Enjoy NOW: Don’t Spend Your Whole Life Waiting to Live
I’ve been thinking a lot lately about what we’re actually planning for.
In financial planning, we spend a tremendous amount of time talking about the future. How much should you save? When can you retire? Will your money last? What should you leave behind?
Those are important questions.
But there’s another question I think we need to ask more often:
Are you enjoying your life now?
Recently, I lost two clients to cancer within a very short period of time. Both had worked hard, saved carefully and prepared for retirement.
They did what we’re all told we’re supposed to do. And yet they didn’t get nearly enough time to enjoy everything they had worked so hard to build.
Experiences like that have a way of putting things into perspective.
Your Financial Plan Should Include Your Life
I’m a financial advisor, but I’ve never believed that the person who dies with the largest investment account necessarily wins.
Money is important because of what it allows you to do.
It can provide security.
It can create choices.
It can help your family.
It can allow you to travel, spend time with the people you love and create a home you actually enjoy living in.
That last one has become particularly important to Lor and me.
Over the years, we’ve renovated every room in our home to fit the way we want to live.
Not because it necessarily increases the value of the house.
Not because we’re trying to impress anyone.
Because this is our home, and we want to enjoy it.
We spend a lot of our lives there. Why wait until someday to make it a place that makes us happy?
Stop Saving Everything for “Someday”
We all do this in different ways.
Someday we’ll take that trip.
Someday we’ll renovate the kitchen.
Someday we’ll buy the boat.
Someday we’ll spend more time at the lake.
Someday we’ll take the kids or grandchildren somewhere special.
Someday we’ll slow down.
Financial responsibility matters. I would never suggest spending without understanding how it affects your future.
But there’s a big difference between planning responsibly and postponing your life indefinitely.
Sometimes the job of a good financial plan is to show you that you actually can do the thing you’ve been putting off.
Retirement Planning Shouldn’t Start at Retirement
When people search for retirement planning in Winnipeg, they often want to know things like:
“How much do I need?”
“When can I retire?”
“Will I have enough?”
Those are exactly the kinds of things we can model.
We can factor in your income, investments, pensions, CPP and OAS, taxes, inflation, expected expenses and the lifestyle you want.
But once we know you’re on track, another conversation becomes possible:
What can you enjoy now?
Maybe that means travelling while you’re healthy enough to explore.
Maybe it means renovating your home so it suits the way you live today.
Maybe it means taking more time with family.
Maybe it’s helping your children or grandchildren while you’re here to see the difference it makes.
Your answer will be different from someone else’s. That’s why we do the planning.
There Is a Cost to Waiting, Too
We’re very good at calculating the financial cost of spending money.
We rarely calculate the cost of waiting.
Your health can change.
Your mobility can change.
Family circumstances can change.
The people you planned to share an experience with may not always be there.
None of that means living recklessly. It means recognizing that time is an asset too.
Unlike money, we can’t earn more of it.
Make Your Home a Place You Love
This is one area where Lor and I have decided not to wait.
We’ve changed our home over time to suit our lifestyle because we want to enjoy where we live while we’re living there.
I think sometimes people hesitate to spend money on their home because they’re thinking about resale value or whether they’ll “get the money back.”
That’s worth considering.
But there is also a return that won’t show up on a spreadsheet:
Years of actually enjoying your home.
If the renovation fits comfortably within your financial plan and makes everyday life better, that has value too.
Financial Planning Is About Permission as Much as Preparation
One of the most rewarding parts of financial planning isn’t always telling someone they need to save more.
Sometimes it’s being able to say:
You’re okay. You can afford to do this.
Take the trip.
Fix the kitchen.
Spend the summer at the cottage.
Help the kids.
Make the memory.
When we’ve done the planning and know tomorrow is being looked after, you shouldn’t feel guilty about enjoying some of what you’ve worked so hard for today.
Live for Today. Plan for Tomorrow.
This is why our philosophy at YourStyle Financial is so simple:
Live for today. Plan for tomorrow.
You need both.
Planning for tomorrow gives you security.
Living today gives all that planning a purpose.
Retirement isn’t simply about finally having more time.
It’s about being healthy, financially secure and free enough to enjoy the time you have.
Don’t wait until retirement to start living the life you’ve been planning for.
Are You Waiting for Permission to Enjoy What You’ve Built?
If you find yourself saying, “We’ll do it someday,” maybe it’s worth finding out whether someday needs to be so far away.
At YourStyle Financial, we can map out the numbers and help you understand what you need for tomorrow — and what you can comfortably enjoy today.
If you’d like to know whether your plans for the future leave room for more life right now, I’d love to start that conversation with you.
— Doug