3 Must-Have Assets for a Successful Retirement
Is retirement planning all about the numbers or is there more to it? Do you know someone that’s wealthy yet lacking purpose? This article unpacks the 3 must-have assets for a successful and fulfilling retirement.
From our experience successful financial planning involves more than just managing financial assets. True retirement success comes from nurturing three key assets - financial, human, and intellectual. By recognising and valuing all three, you can create a retirement plan that not only ensures financial security but also brings purpose and peace of mind to your golden years.
When people are asked about their assets, most people tend to list their investment portfolio's, businesses and property holdings. While these are undoubtedly important, they only represent a portion of your overall wealth. It’s important to take a holistic approach, understanding that true wealth includes more than just the monetary aspects.
Three key assets:
Financial Assets: Your financial assets are your cash savings, superannuation, equity in the home and investment portfolios. This part of the three assets is key as it brings peace at mind knowing there are funds to pay for an emergency, bills and life’s necessities.
Intellectual Assets: Your knowledge, skills, and experiences form a treasure trove of intellectual assets. These unique qualities define who you are and play a vital role in shaping your retirement journey. Nurturing your intellectual assets and continuing to grow and learn during retirement can enrich your life in countless ways.
Human Assets: Your loved ones, family, health, and relationships are equally crucial assets. These human assets hold immeasurable value and contribute significantly to your overall well-being. Recognising their importance and nurturing these connections can lead to a more fulfilled and purposeful retirement.
The Importance of All 3 Types:
Imagine if you could pass on only two of these assets to the next generation. Which one would you choose to leave behind? Surprisingly, many people opt to part with their financial assets, realizing that their family or loved ones can rebuild these assets if equipped with strong human and intellectual assets. This perspective underscores the paramount importance of nurturing and investing in all three categories.
Building a Retirement Plan Based on Your Values:
At York Wealth Management, our mission is not solely focused on managing your financial assets. We understand that true financial planning involves discovering and aligning your values with your financial goals. By creating a plan that reflects your core values, every decision becomes clearer, and your path to a fulfilling retirement becomes more defined.
Growing Human and Intellectual Assets:
The challenge lies in exploring creative ways to grow your human and intellectual assets. Strengthening family bonds, pursuing hobbies, engaging in personal development, or contributing to your community are just a few avenues to invest in these essential aspects of your life.
Conclusion:
Incorporating financial, human, and intellectual assets into your retirement plan is the key to a successful and enriching retirement journey. At York Wealth Management, we prioritize these three elements and aim to help you achieve not just financial security but also a retirement that is purpose-driven and brings you peace of mind. Connect with us today for a complimentary conversation about your most important values and how they can shape your personalised financial plan.
Until next time.
IMPORTANT DISCLAIMER
York Wealth Management Pty Ltd ABN 46 605 610 679 is an Corporate Authorised Representative of Samuel Allgate Investments Pty Ltd AFSL No. 420170; Financial Adviser Authorised Representative Number 001007979.
This article has been prepared without taking into consideration any investor’s financial situations, objectives or needs. Accordingly, before acting on the advice in this article, you should consider its appropriateness to your financial situation, objectives and needs. Every reasonable effort has been made to ensure the information provided is correct, but we cannot make any representation nor warranty as to the accuracy, completeness or currency of that information. To the extent permissible by law, no responsibility for any errors or misstatements is taken, negligent or otherwise. SAI or its authorised representatives may also receive fees or brokerage from dealing in financial products, see the Financial Services Guide for information about the services offered available at York Wealth Management.