As you drink your evening glass of wine take some time to think about the wellbeing of your future self. What? Who the heck is your future self? That person is you in the future. I don’t mean tomorrow morning or next month but rather many years, seemingly an eternity, in the future. The you, sitting in the living room or beside the fire that is enjoying the wine is the now you and all I’m asking you to consider how the decisions you are making today are going to impact your future self, your retired self.
Your future will play out based on all the choices and decisions that you make from now until then, just as your now you is a result of all the choices and decisions you have made until now. Based on this thought, you are in charge of your own destiny so you might as well create something that you want.
If the future you is a happily retired you then let’s talk about retirement. Have you ever wondered why some people seem to have a successful retirement while others struggle to make ends meet? The difference is simple. The successful ones have sent money into the future for their future selves to use. The unsuccessful have not been able to send money into the future and as a result their future selves are dependent on what they can generate today, to support themselves today. They rely on CPP, OAS and income supplement for survival.
If just surviving isn’t the future that you envisioned for yourself then maybe it’s time to think about your current choices and decisions. What things could you choose that would allow you to send money into the future? What intentional decisions could you start making that would help your future look brighter? Some choices might seem small like making your own coffee for the road versus stopping to buy one on the way, but have you ever thought about how much money you spend on coffee pickups throughout a lifetime? Some decisions may seem more significant, like moving into a smaller home to reduce your mortgage or periodically choosing staycations over vacations. By no means am I asking you not to have fun, but what I am asking you to do is take responsibility for the well-being of you. Be intentional in your choices and make yourself an elderly success rather than the alternative.
It’s up to you.
Patrick Jamieson, Financial Services Manager & Insurance Advisor