3 Ways to Balance Enjoying the Present While Planning for the Future in Retirement
Retirement can be a thrilling yet challenging transition, and finding the perfect balance between enjoying the present and planning for the future is crucial. In this Q&A, a CEO and a Certified Financial Planner™ share their wisdom on navigating this delicate balance. The conversation kicks off with advice to focus on experiences over things and concludes with the importance of using money as a tool for liberation. Discover these and three more invaluable insights from industry experts to help you live in the moment while staying financially secure.
- Focus on Experiences Over Things
- Set Clear Financial Goals
- Use Money as a Tool for Liberation
Focus on Experiences Over Things
Finding a balance between enjoying the present and planning for the future in retirement can be challenging, especially since retirement can seem distant and the future uncertain. My advice is to focus on experiences rather than things. When we look back, the happiest moments in our lives typically don't involve expensive purchases—our happiest moments tend to be experiences and memories shared with family and friends. The experiences we cherish the most often did not cost much.
Unlike most things we're tempted to buy, experiences enhance your sense of well-being. They contribute to personal growth and relationships—all of which can indirectly contribute to your financial success in the long run. Being aware of the feelings you get from experiences as opposed to things can help you enjoy life now while staying on track with your retirement goals.
I also like to set clear boundaries for my work and leisure time. This allows me to live in the moment, be present in relationships, and enjoy experiences like travel, without feeling guilty or worrying about falling behind on my retirement goals.
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Erika Kullberg, Founder of Erika.com, is an attorney and personal finance expert.
Erika is the most-followed personal finance expert in the world, with over 21 million followers, including 9+ million TikTok, 5+ million on Instagram, 4+ million on Facebook and 2+ million on YouTube.
Her podcast, Erika Taught Me, which launched at #1 in Business and #2 overall for podcasts, is regularly at the top of the business and overall podcast charts.
Erika is known for her viral catchphrase, "I read the fine print so you don't have to!" She discovered her passion for educating others about personal finance after paying off over $225,000 in student loans in under 2 years and now creates content on social media to empower others with her financial knowledge.
Erika has been featured in Inc. Magazine, CNBC, Today, CNN, U.S. News & World Report, Business Insider and more.
www.erika.com
https://www.linkedin.com/in/erika2/
@erikakullberg
media@erika.com
Set Clear Financial Goals
One key piece of advice for finding balance between enjoying the present and planning for retirement is to set clear, realistic financial goals that allow you to live comfortably now while building for the future. It's about creating a flexible financial plan—one that accounts for both short-term enjoyment and long-term security. By prioritizing investments that offer both growth and stability, you can ensure that your future is financially secure without sacrificing your present happiness.
In my own life, I focus on maintaining a balanced lifestyle by budgeting in a way that lets me enjoy the present—whether that's through travel, hobbies, or quality time with loved ones—while automating long-term savings and investments. This approach ensures I am always contributing to my retirement fund without feeling restricted by the need to plan for the future. It's about finding a routine that allows me to enjoy today without worry, knowing that my financial security is also being thoughtfully nurtured for tomorrow.
Use Money as a Tool for Liberation
Let's break it down: Life is unpredictable, and finding a balance between enjoying the present and planning for the future is the ultimate juggling act. My advice? Stop thinking about money as a limitation and start using it as a tool for liberation.
Here's how I approach this with my clients: We start by getting crystal clear on what truly matters to them. If sipping wine in Tuscany or spending time with grandkids is their vision of fulfillment, then we design a financial plan that makes those dreams possible. It's not about forcing them into a box of restrictive budgeting-it's about aligning their money with their values.
For clients, it's about creating a flexible structure. We work to set aside enough to secure their future, but I emphasize maximizing their earning potential and leveraging optimal tax planning to free up cash flow for purposes other than taxes. The goal isn't to sacrifice their quality of life today just to tick off some arbitrary savings milestone. That's not living-it's surviving.
In the end, it's about designing a life that's fulfilling both now and later. Retirement isn't the starting line for enjoying life; it's a continuation of the journey we map out together. The plan should support their ability to live in the moment while staying financially secure-and that's what I strive to deliver for every client.
