Five Keys to Unlocking Financial Comfort

With the world being fast paced, there are many changes that are occurring constantly that can have us worrying about the future and whether the past has prepared us. One of the biggest changes in your life is retirement. It marks a new phase in your life, as did leaving home or moving into a full-time job for the first time. Having to worry about your financial position simultaneously to the mental challenges that come with retirement can be difficult. For some of us thinking about money and finances can cause a headache at the best of times!

There are five keys to achieving that definition of financial comfort in your retirement transition:

Key One: Education on Financial Matters

Throughout your life you may have made your living through being financially savvy or picked up knowledge from your own mistakes, others mistakes or from the basics you learnt throughout your education, part time jobs or current jobs.

What is most important to remember are the investment options open to you, tax considerations, where interest rates and heading and investment markets. It is not about becoming a financial expert but understanding enough so that the issue of money is less stressful.

Key Two: ‘The Meaning of Money’

We have all grown up with views on the meaning of money and for many it acts as an emotional catalyst. Understanding how you view money and how this links to stress is important is maintaining a sense of comfort.

Key Three: Efficiency

Speaking of efficiency, you know where you spend your money and allocate resources to maximise it.

Key Four: Efficacy

Part of financial comfort comes from the knowledge that you are using your money in a way that moves beyond just looking after the cost of living and normal expenses and moves towards using you money in ways that promote your core values.

Key Five: Equilibrium

All these elements must be balanced and at an equilibrium. “It is not only what money is, but what money does that matters.”

The content from this blogpost is from our book ‘So You Think You Are Ready To Retire’ a self-guide book to prepare you for retirement, it can be purchased here:

Contact us to buy a copy of the book

For a made to measure advice around your retirement contact us.

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