A client once shared a poignant regret: “When I was working and the kids were young, I saved too much. It restricted what we did when the family was together.”

This simple reflection struck a chord with me. It got me thinking about the delicate balance between saving for the future and living fully in the present. While we all know the importance of financial security, is it possible to save too much – at the expense of the moments that matter most? 

Common paradox of life 

We’ve all heard the sayings: “When you’re young, you have time and energy but no money.”  “When you’re older, you have money but lack the time and energy.” 

It’s a cruel irony, isn’t it? In an ideal world, we’d flip the script, having the means to enjoy life when we’re young and energetic, while still securing a comfortable retirement. But life rarely works that way. 

Many people save diligently during their working years, focused on paying off their home, raising their children and building a retirement nest egg. 

Yet, some arrive at retirement with a bittersweet realisation: “We saved too much. We missed the chance to create memories when we had the time, energy, and our family around us.”

For me, financial planning is about more than just numbers; it’s about reducing regret. 

In retirement, your job is to build memories and enjoy the life you’ve worked so hard for – not just watch your portfolio grow. And this begins long before you retire. 

Ask yourself: Are you sacrificing too much today for the sake of the future? How will your decisions today impact your ability to create meaningful memories with your loved ones? 

It’s important to recognise that once your children are grown, they’ll have their own lives, responsibilities and families. 

The time to connect, travel, and create lasting memories is when they’re still with you. 

Finding the balance 

Finding the right balance between saving and spending isn’t easy. It’s why I often turn to one of my most valuable financial planning tools – long-term projections. 

• Monte Carlo Simulations: These sophisticated models simulate thousands of potential financial outcomes, helping to account for variables like market volatility and conservative investment returns. 

• Conservative Projections: By focusing on worst-case scenarios, we ensure that retirement goals are achievable without over-saving and sacrificing the present. 

This approach gives clients a clearer picture of their financial future, helping them make informed decisions about spending today versus saving for tomorrow. 

Empty-nester advantage 

One key insight from decades of financial advising is that there’s often a natural progression in savings capacity. 

• Early years: Finances are stretched with mortgages, childcare, and family expenses. 

• Empty-nester phase: As children leave home and mortgages are paid off, disposable income increases. 

This shift often happens in the last 10 to 15 years before retirement, providing a window to accelerate savings without compromising your quality of life earlier. 

Thoughtful planning 

This isn’t a green light to spend recklessly or ignore the importance of saving for retirement.

Rather, it’s a reminder to strive for balance. 

• Ensure your retirement is taken care of through thoughtful planning. 

• Make space for living fully in the present, especially when you’re healthy and energetic and your family is close. 

Because, once retirement and old age set in, the regret of missed opportunities is something no amount of money can fix. 

Finding the balance between saving and living is one of the most challenging aspects of financial planning. 

But with the right tools and mindset, it’s possible to enjoy the best of both worlds: a secure future and a present filled with memories you’ll cherish forever. 

As always, this is general advice. For tailored financial planning, I recommend speaking with a qualified adviser who can help guide your unique journey.

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