One Page Financial Plan (The LAB Method)

(Retirement planning for the 21st century)

L(ife 2.0) -

With those in their 50’s and 60’s planning what they are going to do for the next phase of life in what  I prefer to call Life 2.0. After all is’t that what it is? A chance to hit the reset button. A new phase of life. For some it may mean working in a new or different  career that we always wanted. For others, maybe starting that business for something we are passionate about. In reality it is our last chance to create a happy life.

With modern medicine most of us in our 50’s and 60’s still feel strong and not ready to “retire” and sit on the couch or surf the net. It is a fact that we are living longer. I assume most of us want to contribute something to the world in which we live. I tell my clients who are preparing to go into this phase as a “work optional” mentality.

A(lternative Thinking) - 

If money were the only concern in planning a successful next phase in life, happiness would take a back seat and that is the most important part of Life 2.0. So I put happiness first and money is only a means to that end.

Life 2.0 planning is more than wealth management. Although money is important to all of us in maintaining our lifestyle, I coach a mindset change incorporating mental, physical AND financial health. A term some call holistic in scope however I call it required for a successful Life 2.0 Plan.

B(usiness Modeling) -

Looking from above at a 30,000 foot view of Life 2.0, business modeling is an important part of success. After all aren’t our lives often like a business? We often have to sell others to get what we want so that we can generate happiness. The profits and losses from our Life 1.0 are going to affect how we live life 2.0.