Return on Life not Return on Investment

You would be forgiven right now for worrying about your investments. The markets are very volatile as we all try to get our heads around the ramifications of being in lockdown, due to the Coronavirus.

However, whilst it is prudent to keep an eye on your investments, and make appropriate changes, we always encourage clients to play the long game, rather than make knee jerk changes they later regret.

Rather than focusing on getting a return on your investment, we’d like you to consider an alternative approach – achieving a return on life.

What we do mean by return on life?

Here are some indicators for you:

  • Are you living well within your means? We don’t necessarily mean, are you racking up debt, living a life you can’t afford. This could just as easily be you’re constantly penny pinching, thinking about the future.
  • Investing time, energy and resources into the people and pursuits that give you joy
  • Taking the opportunity to enjoy experiences and opportunities as much as possible
  • Being confident you are living your best life – not comparing yourself to others
  • Not allowing your money to control and define you – instead managing your money to allow you to do what you want with your life

In the current climate, you’re probably shaking your head. But, whilst you may not be able to do exactly what you want right at this moment, it will pass. So, now is the ideal time to evaluate what you really do want.

Ask yourself: “Who and what truly makes me happy?” If you could do anything now, in six months, in a year – what would you be doing and who with?

We are brought up to focus finances on the long term – saving for retirement, being debt free, paying off the mortgage. But that doesn’t necessarily deliver a high quality of life now.

Now, more than ever, we are suddenly focused on our own mortality. So, it’s the perfect time to ask yourself if you are living your best life.

If you could wind the clock back five years, would you still have done the same things? If not, now is the perfect time to change that. Don’t be in that same situation in another five years. Instead, acknowledge what you would like life to look like, and let’s work towards achieving that.

And don’t forget to consider your health when making those plans. What hobbies or pursuits rely on you being in rude health? You need to make those a priority to enjoy now, while you are fit and healthy.

What about when you’re not so fit? You need to think about how you want to live, if and when that happens – would you go into a home, or would you prefer in-home care?

And we haven’t even started on the role you wish to play in your children’s lives, or your parents, if you are lucky enough to have them. But that’s a post for another day.

Right now, we want you to focus on thinking about what you want life to look like, post Coronavirus isolation.

If you would like to talk about your LifePlan in more detail, then please give us a call on 01344 875 310 – we’d be delighted to help.

return on life