Monthly Archives: May 2018

Landscape – Why Delay? You Can Start Improving Your Health Right Now!

A busy 40- to 50-hour work week, kids that need shuttling to and from school and extra-curriculars … and a gradually decreasing metabolism.

Sound familiar?

Young, working couples with no kids may have more time to be active and healthy. Long morning walks, three trips to the gym every week playing sport with friends cooking their way through gourmet recipes.

Then life happens. Children, promotions at work that lead to more responsibility and longer hours.

A couple’s free time together begins to dry up. Five-a- side night turns into crashing on the couch for a few hours before bed. Weekend bike trips or trivia nights turn into weekend rushes to and from kids’ parties or sporting activities and gourmet cookbooks are replaced by fast food menus.

Then there’s the money crunch. Even couples with a financial plan in place tend to worry more about money once a mortgage, car payments, and children enter the picture. Many couples start pinching pennies at the expense of their creature comforts and well-being. New clothes and a replacement for that worn-out mattress aren’t as important as saving for college tuition or eventual retirement. Frozen meals and take-aways are quick fixes when there’s so little time to cook a good meal before your daughter’s dance lessons.

The Result

The risks involved when we start neglecting our health are real, and harder to correct as we continue to age. But there are emotional consequences as well, especially if one spouse slips out of shape faster than the other. Innocuous suggestions like, “Let’s take a trip to the farmer’s market” or “How about we re-start our gym membership?” can feel laced with criticism. A loss of confidence, feelings of depression, and inattentiveness to basic hygiene and appearance can follow. Money – already the most common source of marital friction – will continue to be a barrier to self-improvement. Unhealthy people don’t like being told they’re unhealthy, and will often put off preventative care, like annual checkups.

If you or your spouse are struggling with a similar scenario, take a moment to work through the following questions and suggestions together:

Questions to Ask

Are you and your spouse able to maintain your health without any financial stress?

Do you and your spouse regularly confirm your health and overall well-being with your doctors?

Is your level of physical activity higher or lower now than it used to be? If you’re about to retire, do you anticipate a more or less active lifestyle?

What are some physical recreational activities that you enjoy?

What is a recreational activity you’ve never tried, but deep down always wanted to try?

How old is your furniture, especially your bed and mattress?

How many fresh meals do you and your spouse cook and eat at home every week?

Steps to Take

Landscape – How Will You Practice Your “ART” in Retirement?

A hammock on the beach. Your favourite chair in the living room. Waking up when you feel like it. A blank diary. Doing what you want when you want. Doing nothing if that’s how you feel that day.

After a lifetime of working 35 hours or more every week, this scenario sure sounds appealing to many soon-to-be retirees. But the surprising reality is that a life of unstructured leisure can create stress, strain spousal relationships, and lead to feelings of uselessness and depression.

When today’s successful retirees stop working, they learn the “ART” of retirement. It’s about Activity, Relationships, and Time. They experiment. They try new things. They make new connections. And eventually, they create a new daily routine focused on the people and passions that make their lives fulfilling.

Activity

Jack just retired. He has no idea how to spend his time anymore. So, he potters around the house, fixing stuff that isn’t broken, rearranging things that don’t need to be rearranged, watching a lot of TV … and driving his wife, Jill, crazy.

We chuckle when we see a scenario like this play out in a film or TV show. But Retired Hubby or Wife Syndrome is a very real problem. Many senior couples have spent eight hours or more apart from each other every single day for decades. Then, suddenly, they’re together all the time!

Often, this is the moment when spouses realise they each have very different ideas about what retirement is going to be like. One spouse might have visions of a spending their time in the garden whereas the other might have plans to see the world. Somewhere in between those expectations are the activities that are going to make retirement worthwhile for both people.

The things you do in retirement should be meaningful, stimulating, and energising. Your passions should be your guide to a new routine – both with your spouse, and apart from him or her. Take professional lessons to turn a hobby like golf or painting into a real skill. Volunteer at a charity that’s close to your heart. You and your spouse can indulge your inner foodies with weekly date nights to try out all the new hot spots in town.

Relationships

Your spouse isn’t the only person you’ll be seeing more often in retirement. Your relationships with the rest of your friends and family are also going to change now that you’re no longer working. This too can be difficult, as many of the people you spent your workdays with recede from your day-to-day routine.

But this can also be a wonderful opportunity to connect with the people who matter the most to you. Once you and your spouse make it through the initial adjustment period, in my mother and fathers case this took at least 12 months I have to warn you, you’ll be able to spend time doing the things that brought you together in the first place. Planning trips and extended vacations around your children and grandchildren will create meaningful experiences that you’ll carry with you for the rest of your life.

Your social diary also gets a whole lot bigger. Fill it up! Organize your friends for a weekly round of golf. Plan date nights with other retired couples. If there are people you lost touch with due to the grind of working and raising a family, reconnect.

Time

Time without the structure that work provides can be challenging for retirees. The very notion of time can take on new meaning. Without meetings and project deadlines to worry about, time can seem so limitless that it’s overwhelming. It’s like an artist staring at a blank canvas—where do you begin?

So how will you fill your day? Will you start taking an hour to do things that used to take 10 minutes when you were working? Will you sleep later? What new routines will you start?

The good news is, many of today’s retirees are more active, more connected to their communities, more adventurous, more ALIVE than they’ve ever been! And they organise their time in retirement around the activities and relationships that make them feel happy and fulfilled.

Perfecting your ART

Retirement is an ART you have to work to perfect. You’ll make mistakes, and you’ll learn from them and adjust. You might load up your days with activities, only to find that having a bit less structure allows you to explore your options. You might find the initial lack of structure maddening, and work on a new routine. You might try a part-time job. You might like it. You might not.

There’s no one way to have a successful retirement. But the sooner you start working to refine your ART, the more beautiful your retirement picture will be.

10 Tips for surviving inevitable market falls

It is an inevitable part of investing that at some point markets will fall by an alarming, if not unexpected, degree.  We haven’t seen large market falls for a decade but should expect that at some point we will.  When, and in what magnitude, no-one knows, but remembering the following can help:

  1. Embrace the uncertainty of markets – that’s what delivers you with strong, long-term returns.
  2. Don’t look at your portfolio too often. Once a year is more than enough.
  3. Accept that you cannot time when to be in and out of markets – it is simply not possible. Resign yourself to the fact. Hindsight prophecies – ‘I knew the market was going to crash’ – are not allowed.
  4. If markets have fallen, remember that you still own everything you did before (the same number of shares in the same companies, and the same bonds holdings).
  5. A fall does not turn into a loss unless you sell your investments at the wrong time. If you don’t need the money, why would you sell?
  6. Falls in the markets and recoveries to previous highs are likely to sit well inside your long-term investment horizon i.e. when you need your money.
  7. The balance between your growth (equity) assets and defensive (high quality bond) assets was established by your adviser to make sure that you can withstand temporary falls in the value of your portfolio, both emotionally and financially, and that your portfolio has sufficient growth assets to deliver the returns needed to fund your longer-term financial goals.
  8. Be confident that your (boring) defensive assets will come into their own, protecting your portfolio from some of equity market falls. Be confident that you have many investment eggs held in several different baskets.
  9. If you are taking an income from your portfolio, remember that if equities have fallen in value, it is likely that your adviser has set up your portfolio so that you will be taking proportionately more of your income from the cash held within your portfolio or your bonds; not selling equities when they are down.
  10. Your adviser is there – at any time – to talk to you. He or she can act as your behavioural coach to urge you to stay the course.  They are a source of fortitude, patience and discipline.  Be strong and heed their advice.

Warning – The above information is provided for information only. It does not constitute investment advice, a recommendation or an offer of any services and is not intended to provide a sufficient basis on which to make an investment decision.  The value of investments may go down as well as up and you may not get back the full amount invested.