Retire Now Movement!

{Part 1: A Great Exercise}

Before I get 400 phone calls of clients giving their 2-week notice, let me expand upon this concept.  The “Retire Now” movement, that I just started, is one I hope can help many of us gain clarity in our lives.  The concept is simple, regardless of your age close your eyes for 5 minutes.  Now start to envision what that optimal retirement would look like.  What do you see?  How does it make you feel? 

The question I hope this exercise can answer is one of purpose and meaning.  Also, I hope this can give you a clear picture of what you are working so hard today to accomplish.  I’m going to take the next few minutes to walk through how this exercise might look and help for every age range.  Hopefully, when I am done you can get a better sense of how the Retire Now Movement can add value to your life.

Retire Now – In Your 20’s

20’s– I’ll start this concept with those in their 20s.  Boy, do I both envy this group of individuals and also feel your pain.  I remember my first day of post-college work.  My alarm went off at 6 am and all I could think is, you got to be kidding me I have 40 more years of this!  That said, boy my 20’s were some fun times. 

Anyway, how can picturing retirement benefit those early in their careers?  For starters, it can give you a goal in your working life.  Do you want to have 3 homes and travel the world?  Or do you yearn for the simple and want to live on an island somewhere waking up to sunshine and beaches?  Depending on your answer it may shape how hard you work and how much you need to earn. 

If all you want out of life is an inexpensive carefree lifestyle then no sense burning the midnight oil for 40 years.  Conversely, if you want to be on the next episode of Lifestyles of the Rich and Famous, with Robin Leach you better start climbing that corporate ladder now!  Picturing retirement can really shape the type of career you go into and what you need that career to provide you financially.

Lastly, picturing retirement in your 20’s can have one other impactful implication on your pre-retirement life.  That is the benefit of not waiting 40 years to experience those things you yearn for.  Now, this isn’t to suggest you can afford 3 houses today or to travel the world non-stop.  However, perhaps you realize traveling is very important in your life and you are going to start doing that now.  Or even you love the beach vibe and you’ll pursue a career in a town that can give that to you day-in and day-out rather than joining the rat race in the big city.

Retire Now – In Your 30’s

30’s– Now that I am officially 5 months removed from my 30’s I can speak to the benefits of the Retiring Now mindset.  In your 30’s you really start to solidify your career and family.  You probably have more clarity of your priorities in life and what is most important to you.  So, what can this exercise provide you 30 somethings?

First, picturing that retirement can help set your current priorities.  Are you living a lifestyle today that is aligned with your long-term goals?  Or does something need to change today?  I’ve fallen trap to this where I had to stop and realign my priorities.  Put that cell phone down, be more engaged with my family, and prioritize those closest to me.  This is how I want to spend my retirement, so why not start doing it today.  Think of it as a course correction as there is probably no time in your life, you’ll be pulled in this many directions.

Next benefit in your 30’s of Retire Now is it can put financial planning at the forefront.  This is when most people start to build a little bit of wealth.  Additionally, for many, your income breaks away from your expenses as you have money to put to work.  This can be on investments, homes, insurances, leisure, or all of the above.  The point being – if you don’t start getting your financial house in order in your 30’s it may jeopardize that ideal retirement in your 60’s. 

Finally, as your career is well on its way you should have a clearer picture of what is realistic.  Is your career path one for upper management, or is it simply not in the cards for you?  Does this mean you have to change your ideal retirement or change your career possibly?  I’ve seen both of these happen and the important thing is you are aligning your current and future priorities.

Next Up

The Retire Now concept is simple to understand.  It can have a massive impact on your life both today and well into the future.  I understand this is no easy task as I work with retirees every single day and even they have a hard time picturing retirement.  That said spend a few moments thinking through what the future will bring.  You might just find it can help shape your decisions this very day.

Don’t think I forgot about you 40 plus individuals.  You are the topic du jour in next week’s blogs.  Stay tuned! 

Stay wealthy, healthy, and happy!

If you prefer to watch a video instead of reading the blog, the vlog version is here: