Retirement. Downsizing. Words that might be in the back of your mind once you reach a certain age, but believe me, it comes faster and sooner than you expect. And the definition of those words, the reasons behind them, and the timing are different to everyone. There might be various reasons you’re choosing any of these options, and you might not be doing them simultaneously. But they’re all a part of planning for a major Life Event, and it’s never too soon to start thinking about what it might look like.
I talk a lot about unexpected Life Events, but it is important to plan for the expected ones as well. I feel that one of the most important definitions of wealth doesn’t include how much money you have, but what kind of options you have for your life.
I am at a stage in my life that I want to not only think about what the next phase is going to look like, but to plan for it as well. I am making decisions that are creating options in my life, from my line of work to where we live. For me, that includes retiring last year from the accounting business I’d been a part of for almost 30 years and joining Jane and Money Mentor Group. This allowed me to follow my passion of writing a book and helping others recognize the importance of organizing and reviewing their important documents. Another very difficult decision that my husband and I have made is to leave our beautiful log home in the mountains so that we can dispose of belongings that are tying us down, be closer to a social life in downtown Frederick, and free up our time and money for more traveling. Both decisions were difficult, but ultimately leading us towards our combined goal of more traveling and free time.
Change isn’t always easy, but if you have a vision or a goal to work towards, it makes it worth it. But it also comes with planning, and as in anything in life, that planning includes how the decisions are going to affect you financially. Can you afford this vision or goal? If not, what do you need to put into place in order to make it a reality?
Whether you are young and talking about buying your first house and/or starting a family, you’re considering a career change, or you’re older and thinking about what retirement will look like, it is important to have a future vision so that you can begin to put steps in place to make them a reality. At Money Mentor Group, our specialty is helping get clear on your vision and put steps into place that will take you financially from where you are now to begin seeing the reality come true.