Paralysis Through Analysis

Paralysis Through Analysis

Are you the patient partner of someone who’s been talking about retirement for months, or even years, but can’t take the final step?

In this week’s newsletter, we’ll show you the one thing to do to get them there and how to help yourself along the way.

We’re talking about those long-suffering spouses and partners of people who either should or wish to retire – or for who you wish to retire!

But, for whatever reason, they’re putting it off…

• They’re doing all of these calculations.
• They’re looking at their pension funds.
• They’re trying to work out if they’ve got enough.

This is what we call ‘Paralysis Through Analysis’.

• They’ve been going at this for months, perhaps even years.
• They’ve got spreadsheets open whilst ringing pension providers, looking at their money going up and saying, “When it gets to here or when it gets to there, I can retire.”

It’s likely though that you both know that this is the time to retire.- Perhaps their health isn’t where it once was.

• Perhaps the job isn’t what it once was, and it’s not enjoyable anymore.
• Perhaps you just want time together.

By continuing to put off the inevitable because they can’t convince themselves they’ve got enough to retire, they are effectively paralysed.

We see this a lot.

Quite often they’re dragged in to see us, plonked on the chair and told:

“Listen to the Planner while they do some calculations.”

“Let’s work out whether we do have enough in our pensions to retire.”

“And if we don’t, how far away are we?”

That’s the key point, because there’s only three types of people when it comes to retirement planning:

•  There’s the ‘got too muchers’
• The ‘got enoughs’
• The ‘not got enoughs yet’

And even if you’re a ‘not got enough yet’, at least knowing when you’ll have enough, frees up the mind because we can actually start working to date in confidence.

But you know what?

When somebody has ‘Paralysis Through Analysis’ and is finally brought in to see us, we do the maths and normally, we’re telling them at the end, “actually you’ve got too much.”

“You could have retired a couple of years ago.”

They just couldn’t see it.

And this is why it’s so important to just say,

“Look, enough’s enough – come on, we’re going to sit down with a retirement planner and work it out because we don’t want it to be too late.”

 

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Joslin Rhodes Pension & Retirement Planning – Real Advice, For Real People