What’s Your Christmas Wish?

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Sadly, Christmas for many is simply a time when they expect to get something.

And it’s a short hop from just expecting something to feeling entitled to something. Entitlement is the scourge of our time and crops up anywhere you care to look.

I live on an estate where the distance between the entrance and the houses is considerable. Residents are encouraged to give employees a lift, if possible, which isn’t always the case. This doesn’t discourage a particular employee from marching into the road, arms held high, and obstructing traffi c to demand a lift. I fear the day when wills collide.

Feeling entitled to a particular lifestyle in retirement is a dangerous, but common, mindset. It’s often felt that a particular income level is deserved, no matter what the resources available are. When this attitude confronts reality, the result is frequently disappointment, usually with the investment manager.

I grew up with the adage “you cut your clothing to suit your cloth” which is very relevant to retirement planning; probably the most crucial planning we will ever engage in. With so much at stake, the guidance of a fi nancial professional can make all the difference.

We have helped many people plan their transition into retirement, often starting with a hard conversation (I’ve had many a wife in tears), followed by some realistic planning and tough adjustments. But we have also had some real successes from those starting conversations.

So instead of wishing this Christmas, why not start planning instead?