Making Time for Lifestyle
Last week, after a decent game of golf, a few friends and I reflected on life’s timing over dinner. One of my friends has just fully retired, and we shared insights from our diverse experiences, the different paths we had taken along the way, and we all agreed that significant life events often don’t occur at the most convenient times. Also, it’s the unexpected events that often shape the paths we take.
Our consensus was clear: waiting for the “perfect moment” is an elusive goal. Much like predicting market peaks and troughs—something that, if possible, would make us all wealthy—the ideal timing often remains just out of reach, and most certainly none of us can predict the future.
Many of us continue to work diligently, not only to meet financial obligations but to sustain a comfortable lifestyle, and simply because, “Work is what we do”. Many of my IFA colleagues also say, “My clients need me”. It’s also an undeniable reality that for many, the prime years of life are spent earning and saving for the “Magic pot” of money to spend in our later years.
However, managing time is one aspect we can control better. Many advisors find themselves working out of habit, yet most would agree that having more time for personal pursuits would be beneficial.
For those who enjoy their profession—as I do—the concept of full retirement may not appeal. Instead, consider a “Mini retirement.” This could involve divesting certain client accounts that no longer bring satisfaction or are high maintenance for low returns.
Fortunately, there are a number of firms that specialise in servicing these types of clients, and our consultancy department is adept at helping you strategically segregate your client portfolio. By identifying a suitable buyer, we can help secure a profitable exit for these accounts, thus freeing up your time to develop other activities, or even perhaps steering your business in a different direction.
Throughout our history, we’ve facilitated this type of sale of various business segments of diverse sizes and types.
Why wait for the later years of life to benefit from all your hard effort? Let us discuss how we can do the same for you, ensuring you not only profit now, but also reclaim the time you deserve.