“I should be okay…I’m doing everything I know to do” John said to me in call discussing ideas he had read in my book.
You work hard, you give to causes you care about, you pay your taxes, and save as much as possible for retirement. As time goes on you start to use words like these when you think of retirement and your future: “should”, “I think”, “everything will work out, I hope”, “I’ve done all I know to do” and “it will be okay”.
These are not comforting thoughts when you can know exactly the kind of security net you are creating for yourself…and whether or not it will it hold you, and your family.
Forbes Magazine printed an article that talked about these two factors being a killer of retirement: inflation and living longer.
While this is true from the financial perspective, there are still other factors to consider. And to stay within the theme of “two” let me suggest a bigger picture that isn’t often considered.
There certainly is a financial aspect that kills retirement but the two most overlooked retirement killers are: Personal and Social.
Focusing on the financial too much tends to leave you with indecision and confusion. Not because you aren’t smart but because the industry is broken…built too leave you confused so you are dependent on them for products and solutions.
You break-through and break-free by focusing on the Personal and Social.
The Personal dimension of wealth/money is about Dreams and LifePrints. Dreams are like having a “bucket list” but more concrete about how you’ll use your finances to achieve the things that bring you energy, fulfillment and satisfaction in life.
LifePrints are the unique mark you will leave in this world, in the community and on your family like a fingerprint. LifePrints have to do with the mark you make and leave on people, causes and institutions.
The Social dimension of wealth/money is about being charitable or philanthropic. Every American is philanthropic whether they realize it or not through a system called taxes. Often times there is much that you can do in order to voluntarily philanthropic in the areas that matter to you deeply.
That is too often with too many Americans an involuntary amount of taxes are paid – income, capital gains, and estate taxes – that could be avoided and redirected to places and areas you’d voluntarily like to be philanthropic.
The 2 Most Overlooked Retirement Killers are your Personal and Social wealth. And the best thing about focusing more on these is that it brings the Financial dimension of wealth into focus giving you the clarity you need so you can make the decisions that allow you to sleep peacefully at night.