I started thinking about getting out of work a few years back. My accountant recommended a financial planning preliminary visit. First thing she asked was how much does it cost to live. I pulled out a detailed spreadsheet with absolutely everything accounted for by month & week, sundry buffers, allocations still to kids ( all in Uni) Fixed known costs, provisions ( travel etc) & more variable things . She was surprised & said keep doing what you’re doing for now. Knowing that data has been illuminating. 61, super might clock into 7 figures by Christmas. That should be it. Bec’s book has been great among many other resources. It’s an exciting time but one we've found requires a good deal of thought , planning & change of mindset in some ways after many successful years of work.
Hi Bec, that was a fantastic article - I’ve only recently stumbled on your work. I’m a long time financial advisor that is very focused on narrowing the gap between
- what you can actually afford to spend whilst fulfilling your hopes and dreams and
- what you are actually spending.
They are often very different things.
For those who are comfortable playing with numbers, I have an online calculator, free to use, that works out a sustainable spending level bearing in mind everything that’s important, now and into the future. Feel free to use it, I’d love any feedback you may have. I use it in my business every day, but it’s available to all. https://grandplanwealth.com.au/free-tools/
I started thinking about getting out of work a few years back. My accountant recommended a financial planning preliminary visit. First thing she asked was how much does it cost to live. I pulled out a detailed spreadsheet with absolutely everything accounted for by month & week, sundry buffers, allocations still to kids ( all in Uni) Fixed known costs, provisions ( travel etc) & more variable things . She was surprised & said keep doing what you’re doing for now. Knowing that data has been illuminating. 61, super might clock into 7 figures by Christmas. That should be it. Bec’s book has been great among many other resources. It’s an exciting time but one we've found requires a good deal of thought , planning & change of mindset in some ways after many successful years of work.
Love your work Bec! Always gold.
Hi Bec, that was a fantastic article - I’ve only recently stumbled on your work. I’m a long time financial advisor that is very focused on narrowing the gap between
- what you can actually afford to spend whilst fulfilling your hopes and dreams and
- what you are actually spending.
They are often very different things.
For those who are comfortable playing with numbers, I have an online calculator, free to use, that works out a sustainable spending level bearing in mind everything that’s important, now and into the future. Feel free to use it, I’d love any feedback you may have. I use it in my business every day, but it’s available to all. https://grandplanwealth.com.au/free-tools/