Twenty years from now you will be more disappointed by the things you didn’t do than by the things you did.”
– Mark Twain
Financial Independence – are you there yet?
Many people tell us they are thinking about their retirement and all the lovely things they want to do with their time when they no longer have to work.
But we don’t use the ‘R’ word at Magenta. Whilst a significant proportion of our clients have reached the point where they can draw their state and private pensions, many of them continue to work and there is a growing body of evidence which suggests that there are substantial health benefits in doing so.
For many years we have preferred to use the term ‘financial independence’. We define this as the point in time where you are able to choose how you spend your time and where you continue to work because you want to, not because you have to.
So do you know when you will reach financial independence?
Are you on the right path? Do you know whether a slight adjustment in what you are doing today would enable you to bring that date forward? Whether you choose to stop work altogether, or gently – or never– to wind down to not working at all, do you know what level of lifestyle you will be able to afford?
Or are you already there but just don’t know it? You may be in the position where you haven’t stopped to look at your finances to see if you have enough money to last for the rest of your life – and you have no idea what sort of investment return you need to ensure you never run out.
If you work with us you will have a plan and you will know what your future looks like. All of our clients who have reached financial independence work because they choose to. Those who are still on the road to financial independence have a pretty good idea of what they need to do and when they will get there.
Our Lifetime Cashflow modelling gives all our clients a very clear idea of where they are now and what lies ahead. So they can plan their future lives with confidence in the knowledge that they will have enough to live the lives they want and be financially independent.
If you want to achieve financial independence sooner rather than later, contact us and we can start a conversation….