Planning to make work optional is the “new retirement plan.” As I continue to visit with individuals and families about preparing to sustain their current lifestyle for 20 years without receiving a paycheck, I’m hearing something different, “Charles, I don’t know if I ever want to retire?” The conversation then moves to clients saying something like, “I’d like to be in a position to retire if I want, but I like what I’m doing, it’s who I am.”
The concept of retirement is changing. Some look as retirement as an end to a mean and currently they are enjoying the journey of life. Planning for retirement is optional gives a person the freedom to stop working, or even working less, having peace of mind and being able to do more of what you love.
To get there, we help answer some critical questions; Should you save more money? Through which tax-favored vehicles? Can you maintain your present standard of living, and for how long? How aggressively or conservatively should your financial assets be invested to preserve your wealth and maximize your chances of success? What happens if you live much longer than expected?
We help make sure that the assets you have accumulated will last for the remainder of your life. For the first time in human history, work is becoming optional several decades before death. This means you need to have the resources and health to really enjoy the fruits of your hard work for 10 – 40 years. We help you plan more of the journey, like adventures, travel, relationships and community involvement and philanthropy that you now have the time and energy to enjoy.
“Mindful Monday” is produced by: Charles Kochel, Wealth Advisor at Yield Wealth Management. The purpose of this weekly Blog/Newsletter is to communicate the principles of good investment working with markets, understanding risk and return, broadly diversifying and focusing on elements within the investor’s control- including portfolio structure, fees, taxes and discipline. Thank you to Brent Kessel, Co-CEO, Abacus Wealth for his research in this article.
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What we do for ourselves, dies with us. What we do, for others, and the world lives on and is immortal. ~Albert Pike?
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