Time to reset: Can I find the balance?

After a few months in lockdown plenty of people have had their eyes opened to a new way of living…

– More time spent at home

– Down-time with the family

– More sleep, exercise or enjoying nature

– New hobbies or old ones reignited

– Not spending 4 hours a day sat in traffic

COVID-19 has accelerated development in a number of businesses. but has it also transformed the way you want to live? If so, how do you strike the balance in our ‘always-on’ world?

Now is the time to adapt and flourish.

You might find yourself in one of three situations:

1.You want to strike a better balance between work and your personal life

2.You’ve realised your retirement date, set a few years out, needs to be brought forward

3.You’re already retired but you feel your time could be better spent

Click below to explore each of the options:

Work vs. personal

You probably have a smart phone, email account, laptop, tablet, WhatsApp, Teams – a combination of which can make it hard to switch off.

Perhaps over the last few months you haven’t wanted to switch off! You’ve rolled up your sleeves and got stuck in for the sake of survival. But now we’re emerging from the fog and you’re left with an opportunity to really strike a balance – not just for you but those around you. Think about these three areas to help you do that:

1.Routine – As much as flexibility is enjoyable, building ingrained habits can bring just as much joy. Are there any gems you’ve really loved in lockdown? Daily walks, meditation, a morning coffee with your partner, sleeping in for an extra half an hour, chatting to friends on Zoom over a glass of wine – whatever it may be, make it a habit!

2.Time-blocking – Use your online calendar to keep track of what you’re doing when. This will let you, and those around you, know when you’re free. For example, if you don’t want video calls after 6pm, or take a yoga class at 8am make it clear.

3.Values – Perhaps your mindset has shifted, and balance means something different to you now. Write it down. Talk to your family about it. Let the team around you know what matters to you. With everyone on the same page you’ll find it easier to achieve your new normal.

Work vs. winding down 

Perhaps the change forced on us in recent months has opened your eyes to things you want to do, how you want to spend your time and whether a back to back schedule still appeals to you.

If you’re thinking about retiring or working less hours, you might be wondering if you can afford to. There are ways to know what’s within your reach:

1.Goals – What do you want this new way of life to look like? What freedoms will it allow you? Get an idea of how you want things to pan out – write it down, chat it through with a loved one.

2.Seek advice – You’re probably thinking it’s all well and good wanting to do these things, but can you afford to make them a reality? That’s where cashflow forecasting comes in – something we include in all our financial plans. An easy way to view your overall financial situation and what it could look like as factors in your life change.

3.Taking action– You’ve got the plan and the means but what next? Finding a way to put your plan in to action will be key – don’t sit on your ideas, now is the time to make sure momentum isn’t lost by working with your adviser to plan for the future.

Work is a thing of the past for me

Did you think you’d found the right balance when you retired? More time for family, friends, fun? It can be easy to let time run away with you and just because you’ve stopped working doesn’t mean time slows down. Before you know it, you’re a few years into retirement and that list of things you dreamt of doing is still just a list! Put aside some time for the following:

1.Think about what you want these golden years to look like – We’re always talking about making life count here at CPW. The meaning of that phrase is personal to you. But without knowing what it means to you how do you expect to be able to bring it to life? Do you want to spend your time at home, with family, travelling the world or a combination of a few things? Deciding what making life count means to you means you can start living out your goals.

2.Don’t waste time worrying about money – Are you wondering whether you’ve got enough? Do you know if you can cover the cost of additional care or who will manage your affairs when you’re no longer around? Your retirement years are there to be enjoyed, so, find out the answers, make a plan and crack on with the fun stuff!

Bringing it all together

So, when you’re asking yourself if you can find the balance in this new world, the answer is undoubtedly yes. Make the journey as easy as possible by updating or creating a thorough financial plan built around your personal situation. Don’t lose precious time to confused goals and a chaotic schedule. Let 2020 be the year that things become clear.