We have recently seen lead stories in media
about aged care and disability concerns,
changes to super, are annuities worthwhile,
accessing the equity in your home – not to
mention the pandemic. All these issues are
disruptive and unsettling.
The common thread is the impact on you – is
there a solution which empowers you to take
more control of your life?
Time is the bottom line
We recently presented a training webinar to
financial advisers called Time is the Bottom
Line. We explained how time concepts
underpin almost every major financial
decision we make, such as:
- how long will my money last
- how long should I be planning for
- how often should I review my situation
- are these time questions different for me and my partner and so on
Planners were impressed enough to begin to
engage their clients with this concept. As we
explained, we all speak time so getting
timeframes clear helps with all decisions.
A broader viewpoint
It’s not just the financial decisions. ‘How
long’ and ‘when’ questions permeate our
days (and too often our nights!)
The good news is that we all speak time and
understand its one-way nature. Once we
have a good sense of a time frame for the
rest of our life, we can take two actions:
- We can decide whether to try and influence that timeframe and devise a reasonable plan of action.
- We can talk more easily with each of our counsellors – whether family or professional – and use the same time frame as the background to our discussions and decisions.
A well-informed time strategy underpins our
decisions for the rest of our lives.
State of mind
With a time strategy we are on the way to a
more constructive state of mind, engaging
with the future rather than fearing it.
Changes to our surroundings (eg pandemic)
are viewed in a longer-term context, which
makes us less vulnerable to short term
anxieties, and able to refocus on important
elements of our future.
Getting it all together
By undertaking all our major decisions in the
context of our personal timeframes, it is
simpler, quicker to adapt to change, easier to
get understandable advice (and much less
expensive) and be more comfortable with
our decisions.
These are just some of the benefits of a well
thought through longevity strategy. It’s why
we designed the process for each person to
develop their own longevity plan, to inform
and integrate with every other source of
advice.
Your Longevity Plan
Start or revisit your own Longevity Plan to
prepare for the future. It’s a calming and
positive resource.
