Maya had been a client of ours for several years. As part of our ongoing review, we had a discussion with her about the continued need to work.
Although Maya enjoyed her role, it came with significant travel and was, at times, highly stressful. With highly transferable skills and a desire to give something back to society ‘when retired’, we challenged Maya to consider a timeframe for when she would like to step back from her current position.
It had never occurred to Maya that she was in a position where work was an option instead of a necessity. Having prepared some cashflow analysis in advance of the discussion, we were able to demonstrate to Maya that she had more flexibility than she previously believed. At the time, she considered it an interesting exercise, but did not make any immediate changes based on the information. However, within a few months, the discussion was soon to prove pivotal.
Maya’s employer made changes to their reporting structure and placed her in a role that wasn’t as appealing as her previous position. After our discussion, Maya knew that work was optional; it wouldn’t impact on her lifestyle if she retired. She was therefore able to make an immediate decision to take a voluntary redundancy package.
Following this decision, Maya was able to take an extended break and re-evaluate her focus in life. Safe in the knowledge she was financially secure, she was able to explore exciting business opportunities and provide support to a local charity.
It’s important to Maya that she remains active, both mentally and physically, as she continues to transition from working full-time to a more flexible lifestyle. Prior financial planning played a crucial role in avoiding stagnation and helping Maya to achieve her aspirations.