What is Work Optional Lifestyle Financial Planning

What is Work Optional Lifestyle Financial Planning

Having recently sold a proportion of my business, I found myself in a position, at age 57, that with a couple of tweaks to my lifestyle I was in a position where really working was optional.

However, as an entrepreneur, and having been self-employed for a good proportion of my life, I felt that retiring was not something that I was quite ready to do. A big motivating factor with this decision was both of my parents died just before reaching retirement. This put a whole new perspective on how I believed life should be lived. It was quite likely that my dad could have retired 3 or 4 years earlier. He could’ve spent more time with my mum prior to a serious illness and we could have all created more beautiful memories and cherished our time together.

At that point I made it my mission that I would, wherever possible, help my clients to see they could be in a better financial position than they really thought. So what is Work Optional Lifestyle Financial Planning? You are working hard, you’re earning a good income, paying out tax, national insurance and pension contributions, and have a decent standard of living. You don’t get time to analyse where your finances truly are?Your income needs, once you stop paying tax and national insurance and pension contributions, are considerably lower than you might think. Suddenly a work optional financial plan looks very appealing!

I appreciate that as business owners, entrepreneurs and executives you may have a great deal of stress in your lives.This can often be negated if we can show you that a work optional lifestyle financial position is possible. That you already have enough assets in your life to be able to effectively retire if not immediately, then within just a few more years.

Wouldn’t it be incredible to know that, for example, you only really need to work until your 62 not 70 and enjoy the fruits of your labour!

This has many unexpected effects, you may not work quite so hard, you may not feel quite so much pressure, you may avoid the impending heart attack, excessive tiredness, disappointment, relationship struggles and the complete lack of work-life balance.

I have made it my goal to help my clients see that work is optional, either already or within a few short years from where they are now.

Our general philosophy is that your pension, investments, savings and home equity is just cash that is wrapped up in different covers with different tax advantages.

If you would like to find out if you are already, or how close you are to a work optional lifestyle financial position then please do get in touch.

Please do not find that you run out of life before you have completed all of your living!

Read our blog on ‘Goal Setting, Accountability, and Work-Life Balance’

Read our blog on ‘The Consequences of Neglecting Your Estate Planning’

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