Morgie's Travels 

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Every journey starts with one step... 

So... today is the day when I start the rest of my life and write the next chapter. It is a real mix of emotions, nervousness, excitement, freedom, uncertainty and happiness all rolled up into one. Apart from a couple of short 'retirement' stints between jobs, I've never had a time since leaving school where I wasn't working, with a monthly salary coming into the bank. It was a big mental barrier to cross, walking away from a well paid, secure job in a great company, to knowing that from this day on, I am reliant on my financial planning, savings and pensions to sustain me through retirement.

 

Top Tip #1.  What I found most helpful to provide the reassurance and confidence that it was the right decision was to engage a Financial Advisor to work through everything and provide a clear financial plan through retirement. I did a lot of research online and interviewed several companies before deciding on  Valour Wealth Management. They spent a lot of time and patience guiding me through options and decision, occasionally challenging my overly conservative approach to eventually come up with a comprehensive financial plan, mapping out finances till my 79th birthday. They are a great company to work with and if you dont already have a financial advisor I strongly recommend them,  

 

Top Tip #2. I  also engaged a good Tax accountant to work through my Tax returns and come up with the details ready for submission. As a relatively new Landlord, renting out my house in Melbourne for the last 12 months made sense whilst I was working and living in Sydney and knowing that I planned to travel for some time after I retired. Tom at Grasmere Ridge was able to work through all the details associated with my Australian and UK finances and prepare the tax return  which ensured I received the maximum tax rebate possible. Again,someone I highly recommend if you are looking for a good Tax accountant.

 

Top Tip #3. Finally, to help with the overwhelming aspects of the major life change, I engaged the help of a wonderful PA - Tash,  from Situation Sorted - to help with moving, packing, organisation and storage as I made the transition into retirement. Tash was and is a highly professional, real rock of support that took on a lot of the challenges associated with packing up your life before embarking on Travel. If you are ever in the position of moving house or just need some support in getting things done you struggle to find the time for, then Tash would be my go to recommendation every time.

 

So... you can see already that a lot of thought and planning went into today. Things were a particular challenge for me personally as a widower of 18 months, not having someone else beside me for direct support as I went through the additional life changing decision processes. Things just become an-order of magnitude harder.

 

Things I have learned through the decision process to retire:-

 

• Talk to friends, family about your choices and decisions. Everyone will have different questions and perspectives on what you are planning. Some of the best ideas and ways forward came from friends recommendations.

 

• Dont try to do it all by yourself. Find the help and support you need to share the workload. Making the transition into retirement  can be as daunting and stressful as losing a loved one, divorce or moving house. Don't under estimate the mental gymnastics this will put you though. I was 'lucky' enough to combine 3 of the above examples into one experience so trust me when I say I know what I'm talking about.

 

• Don't be scared to make decisions, even though it may feel like you are walking off a cliff. Remember that, ultimately, nothing is irreversable, whilst at the same time none of us are promised tomorrow either. Time is the one thing money can't buy and retirement is the one thing we all work to achieve. Make sure you make the most of it while you can.

 

If you want to read more about my life and history before retirement, then check out the all about me pages on here