Deciding if a Work Optional Lifestyle Financial Plan™ is right for you can seem daunting at first, but we promise that you’ll feel a lot more freedom once you have one.
Just considering our key steps to financial success, detailed below, means you’re moving forward to financial freedom, and we’re glad you’re starting to look into it.
What are the main things you need to consider for a Work Optional Lifestyle to work?
We have gathered our 5 key elements to help ease your mind that a Work Optional Lifestyle Financial plan is right for you.
1. Establish your current resources
Your first step is to look at all your current resources. This could be any assets that have worth, such as your house, cars, stocks and shares.
From here you can see which will appreciate or depreciate over time. Making a list for each category will help put each into perspective. We can help with this process, call or email us for more information. We will then send you our FREE expenditure form.
2. Assess your current Lifestyle
Next, you’ll need to look at your current lifestyle.
Make a note of things you enjoy, things you would like to stop doing, and things you feel you can never stop doing. You will be surprised at what is achievable after you have your plan. Very often it is closer than you think.
We can help you. Download our free Work Optional Lifestyle Financial Planning™ guide here.
3. Imagine your dream retirement lifestyle costs
We’ve noticed that there are actually 2 stages to retirement.
The first stage is where you are full of energy and your main focus is to tick off your bucket list, go travelling and live as much to the max as you can. This of course will depend on your health at the time, but most people at the beginning of their retirement want to be active in some way.
The second stage is where you start to slow down. The travelling isn’t as frequent, and you go out a little less. You start to settle down a bit more and relax more.
With this being said, we recommend you imagine what you would most like to do in both phases of retirement. From this, you can plan appropriately. You’d be surprised by how big a difference there is between the two.
4. Decide on the date
Now for the big one, to decide on the date you want to move from accumulating wealth to spending it.
With this in mind, you can usually start to spend as early as 55. Deciding on what you want to make the change is important as this gives you an end goal in mind. We love goals and helping our clients achieve them. You can check out Doug’s weekly podcast and of course, his book – Goals Do Come True.
5. Put a plan in place
And finally, the last element is to put a plan in place.
Having looked at all of the above factors, you can start to see what needs to be done in order to reach your goal. Whether this is retiring at 55, making sure you can semi-retire or saving for later in life, a plan will help you achieve your maximum potential.
With all of this in mind, we can help you plan your Work Optional Lifestyle Financial Plan™ and help you get the most out of your time being financially free.
If you’d like to see if a Work Optional Lifestyle Financial Plan™ is right for you, then please download our free guide by clicking here.