The Retirement Planning Lessons Clients Wish They'd Learned Sooner

One of the most common regrets shared by people later in life is that they did not protect their time sooner - that they said yes too often, for too long.

We’ve all heard the stories of the financially successful business owner who sacrificed everything for their business. The early mornings, late evenings, weekends and holidays all given over to work may have paid off financially but at what cost? Failed marriages and distant relationships with children due to years of absence are frequent regrets of those who refused to say no time after time. 

Every yes to the business had quietly been a no to something that, in the end, mattered more. It is worth asking yourself: if you knew you only had one year left, would you still say yes to everything you currently say yes to? Learning to say no is not selfish - it is how you protect what actually matters.

By the time most people reach their 70s, there is a common realisation that time, not money, is the real currency. One septuagenarian client told us they would gladly give up half their portfolio for five extra years of energy.

The people who seem to get this right in their 50s are not spending money to appear wealthier. They are spending it to buy back time - outsourcing the tasks they dislike, paying for help and removing the things that drain their energy. This is not indulgence. It is an investment in freedom and it’s definitely worth prioritising time before it’s too late.

It sounds obvious, yet health is an investment far too many people fail to make. Too often, it only becomes a priority once it is already compromised.

The healthiest retirees have focused on themselves as much as if not more than their portfolios. Exercise, nutrition and sleep have long been priorities to protect physical health while mental health is nurtured by continuing to learn, read and stay engaged. 

Of course, it is never too late to start working on these things, but starting early compounds the rewards. As one retired client explained, they used to work hard so they could afford nice holidays - now they train so they can still go on them.

Health is wealth and the return on investment is something you can’t put a price on.

At some point, status stops feeling like success. Many people spend years buying the luxury car, the second home or the boat to impress people who, in the end, simply don’t matter.

So often we see couples who have accumulated all these outer trappings of success, only to find them underutilised and even a source of resentment due to the money and energy required to maintain them. 

It’s worth spending time working out what really makes you happy rather than accumulating status symbols for the sake of it. As we age, it’s often the simple things that bring the most pleasure - waking up able to do exactly what you want, spending time with grandchildren in that precious window when they love being with you, gifting to loved ones when it makes a real difference to them and seeing the effects of your generosity. These things bring infinitely more joy to most people than assets sitting in the background.

When people reflect back from their 70s, relationships come up more than almost anything else. They wish they had called that friend back or spent more time with their children. Few people wish they had worked more weekends, and no-one regrets making memories on that special family holiday.

Your time left on the planet is limited - invest it in the relationships that really matter.

The happiest retirees rarely stop entirely - they redefine what their time is for. Mentoring, volunteering or starting something new can bring a renewed sense of purpose that a finish-line version of retirement does not offer.

Purpose, more than anything else, is what keeps people engaged and youthful in later life. Retirement, approached this way, becomes less of an ending and more of a fresh chapter.