The window of (spending) opportunity

Published on February 3, 2020 by Dan Haylett Category: From our team & Personal development

“A man who dares to waste one hour of time has not discovered the value of life.” ~ Charles Darwin

We all know that time is finite, we also know that life is not a rehearsal and that time is a limited resource that we need to use wisely. We know that we need to value our time more preciously than anything else and that as it runs out, so does our ability to fully enjoy it.

But do we really know the impact that it can have on our desires, dreams and aspirations?

In our experience the want, will and desire to fully take advantage of our time and enjoy the finer things that our wealth can afford typically starts to dwindle at 75 and in fact seems to dwindle at a pretty rapid pace.

We have many stories from our clients, too many to tell here, that all share a very common thread around this theme. It goes along the lines of:

“I wish I had spent more money when I was fit enough to do so”

“I noticed that my mental desire to do things started to go at around 75”

“All I’m going to do is give away a load of my money to the tax man”

We also see the very sad ones where our clients who procrastinate about spending their money sadly pass away before they get the chance to fully enjoy the fruits of their labour.

Seeing Through the Window of Opportunity

You see, our experience and specialism of dealing with clients that are going through the transition of stopping work and looking to plan and live the next phase of their lives has led us to create ‘the window of opportunity’

This is the opportunity that exists to front load our spending on our most aspirational and memory-making things whilst our physical and mental health is at the level it needs to be to do and appreciate them!

The one thing I can guarantee is that at some point in life (again typically at 75) we will want to slow down; it may be a choice, or it may be forced upon us.

Either way, at this point we are now very unlikely to achieve those desires, dreams and aspirations if we have not already experienced them.

“Time is more valuable than money. You can get more money, but you cannot get more time.” ~ Jim Rohn

The window of opportunity is slightly different for everybody, maybe it is 5, 10 or even 15 years long. Whatever it may be, it is the opportunity in front of you to realise as many of those ‘moments’ that you desire to have with family, friends and loved ones, whist you can fully appreciate them.

The cruise, long haul flights, walking trips, time with the grandchildren, taking on a project, one off adrenaline experiences are all things that should be high on bucket lists. Robust plans should be put in place to bring them to life whilst ensuring that the expenses that will be incurred as we slow down and approach later life are planned for and taken care of.

I want to repeat what I said at the beginning, we all know that time is finite, we also know that life is not a rehearsal and that time is a limited resource that we need to use wisely. We know that we need to value our time more preciously than anything else and that as it runs out, so does our ability to fully enjoy it.

Because we know all of this, we have a fantastic opportunity to enjoy and fully appreciate the present moment and plan for a window of opportunity that will deliver amazing excitement, experiences and make memories that last a lifetime and beyond.

Our job as Lifestyle Financial Planners is not to concern ourselves with products, markets, investment trends etc. It is to fully immerse ourselves in what’s important to you and your family and put plans in place to ensure that you take full advantage of your window of opportunity, whilst ensuring that you never run out of money and more importantly not die with too much.

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