Is retirement all that it’s cracked up to be?

In the 15 years I’ve worked in the financial industry I’ve seen numerous people whose goal in life is to retire as soon as they can. I’m not convinced that’s such a great goal.

Don’t get me wrong, if you have read any of my articles you know I’m always reminding people to think about the future; however at the same time you do need to live your life today. The magical question is, how much now versus how much in the future. 

Statistics suggest that almost a third of the population don’t get to the age of 65, so that can provide good reason to live for today, which is very much the attitude of many of our young people. On the other hand statistics also show that around two thirds of those who get to the retirement age of 65 collect the national superannuation as their main source of income. This is not a lot of money and will not provide a comfortable financial retirement. What a dilemma!

I know someone who retired in their mid 50’s after working towards achieving an early retirement for many years. Not long after he retired he tried to give his wife driving lessons. She promptly said she had been driving quite successfully for 35 years and didn’t need his instruction and suggested he go and find something else to do.  He’s now in a new business that he is more excited, passionate and energised about than anything else he had previously done. 

In another example I had two clients in their early 50’s who wanted to look at adding to their investment property portfolio so they could retire in a few years. After some discussion it wasn’t that they really wanted to retire, more that they wanted more free time. So instead we restructured their portfolio and got them in a position so that one reduced their working days per week to three and the other to four.  They much preferred more time now and working for more years than working fulltime for less years.

Some people love retirement and they find plenty of things to keep themselves occupied. Others struggle to find things to do that they really enjoy and end up feeling a little lost. All of us need a purpose in life, something to make us feel good, to get us engaged.

Have you thought about what retirement might mean for you? Is it the traditional version of retiring at 65, collecting the Super and spending more time in the Lazy Boy recliner watching TV? Or would you prefer an early retirement and if so, what age? What do you plan to spend your time doing? It may seem a long way off however time flies by as we get busier in our lives. The sooner you start giving it some thought and putting some money away the more options you will have.

By Lisa Dudson

Register for Free

Access current investment properties and get an email as new properties become available.

report coverAnd get a copy of our FREE report The Insiders Guide to Successful Property Investment in NZ.

Not seeing what you want?

Don't wait for the market to bring a deal to you, we will help you go out and get it!

Find Out More »

Investor Case Studies

Real stories from clients with different goals and strategies about how they invested successfully.

Access »