Retiring is a transition that is different with everyone; some retire fully, while others might transition by working part-time or maybe starting their own business. Personal finances such as savings, investing, estate planning, debt management and budgeting can be difficult and draining which is why you need someone objective in your life to help; a financial coach.
As it is in competitive sports, successful athletes have a coach. Individuals or families are like athletes. It is my job to help those understand and apply the following proven techniques:
- setting goals
- long range planning
Working with someone with clear communication channels makes all the difference. Having a financial planner who can also act like a financial coach helps relieve stress and put you in a stronger financial position in both the short and long term. A successful CEO of an organization knows the power of delegation. He or she knows that they are not the smartest at all tasks so they have to have good help such as in the case of finances.
There is another important differentiating factor; non-financial retirement planning. Therefore, I have been an advocate of holistic retirement planning for many years. It really makes the difference. After all, money doesn’t buy happiness, it is just a tool. As my dear old dad says, “happiness comes from things like peace and contentment!” Having a true understanding of your behaviour and emotions with money is very important. Talking about these factors really helps. We want to reduce stress not mask it.