What’s the Target?
Posted by siteadmin on Wednesday 7th September 2022.
Having an exit strategy is often related to an individual selling a business. In such cases, advice and planning support is recommended, particularly with what to do next.
It’s not just an entrepreneur that needs an ‘exit strategy’. Everyone needs to plan for the future, regardless of where they are in the life cycle.
People in their 20s and 30s, may be continuing their education or starting their first full time job. Their career is just getting under way and doing well. They may be settling down, getting married or starting a family.
Moving to the other end of the life cycle for people typically in their 60s, that magic date has come. Here with retirement, people tend to reassess their lifestyle and determine what they want to do with their free time. The hard work has been put in to get here, so now they want to make the most of it.
Ultimately there needs to be an aim, an objective a target. People need to know where they’re headed. Otherwise, it’s like running a 400 meters and not knowing where the finishing line is. Without that, an athlete just keeps running
A lot of people are put off by the planning process. Some might say as it's daunting. But it really isn't that painful. It simply needs clarity, in what the individuals are looking to achieve.
I think one of the key factors when it comes to planning your future lifestyle and the finances that are needed to support, is thinking about what the motivations are.
Whatever it is, we all have different objectives and motives. But the important thing is to identify them and then act to address with what’s required to achieve.
Remember that life is not a rehearsal, and we only get one crack at it. And although the money is important, it’s what we do with it that really counts.