10 Minutes for the Next 50 Years Of Retirement (Story)by Ari Taublieb, MBA
The biggest fear for many people is running out of money in retirement, and this is a major concern for many of my clients. However, I believe that success in retirement is not just about having a good tax strategy or investment plan, but about having the right mindset.
I've now helped over 100,000 people retire early and I believe that success in retirement starts with ignoring money. Instead, I recommend that people take a piece of paper and write out what they want to do from when they wake up until they go to sleep. This exercise helps people get a clear sense of what they are excited to do and create that sense of upcoming fulfillment.
I argue that money isn't the end goal, and that the most successful people I know who are retired (both clients and from messages I've received) travel without worry, fund their children's weddings without worrying about their retirement, and write down everything they've put off for years before they retire.
I ask every potential client the same question: "What's one thing you do right now that you cannot wait to never do when you are retired?" This question helps people get excited about their retirement plans and makes saving and investing a whole lot easier.
The key takeaway is that success in retirement is not just about having enough money, but about having the right mindset. By ignoring money and focusing on what you want to do in retirement, you can create a sense of upcoming fulfillment that will help you achieve your retirement goals. So if you're worried about running out of money in retirement, take a step back, focus on your mindset, and start planning for the retirement of your dreams.
You may be in a position to retire now because you've been a good saver. Unfortunately, being a good saver can be detrimental to you in retirement because you don't spend what you otherwise could have. If you're on track to never run out of money through a comprehensive plan that resonates with you, the real risk is that you forego activities/trips that you could take and still be confident you'll never run out of money. It's time to be a SUCCESSFUL SPENDER.