If you’re in your late 40′s or older, ensuring that time and your comfort zone play well together is easier said than done. I tend to be a stickler on comfort zone, as, like you, being anxious isn’t something for which I strive. In fact, along with the Sominex Account (cash reserves for newish readers), a real estate investor’s comfort zone resides at the top of the A-List of ‘must haves’.
The friction, of course, is caused by the practical need to get things rollin’ with a sense of urgency, while keepin’ at least one foot firmly entrenched in the Zone of Comfort. Frequently this results in the investor takin’ a step back to define exactly which comfort level they’re gonna salute, cuz there’s a couple, not just one — and their demands are often in conflict with each other — irritatingly so.
We all have that Right-Now comfort zone. We like to do things like, ‘test the water’ or ‘check things out’ in terms of process and results. It’s not by any means a stretch to say that this is, more or less, universal — not to mention, prudent. Problem is, when we’re talkin’ about our own retirement, it dawns on us that insisting on the appeasement of our Right-Now comfort demands can take us completely out of our too fast approaching Retirement comfort zone.
What to do?
I often suggest an old fashioned gut check. Preparing for and investing for the purpose of building a wicked cool retirement when time ain’t yer friend, is gonna involve choices. Do ya wanna be a tad outa your current comfort zone — or — be comfortable now — knowing your retirement will be less than it coulda been? It’s a tough call forced on many who wake up one day realizing they need to ‘power up’ their current Plan. I get calls from those folks the next day, all the time.
Here’s some advice based on over 40 years of experience.
Learn the difference between feeling anxious about doing more now than perhaps you’d prefer, and doing something that is flat our too risky, and born of panic instead of a Purposeful Plan. The difference is huge. The former is anxiety, generated from a personal preference. The latter is your gut tellin’ you to slow down and back the heck away from the cliff’s edge.
The two are worlds apart.
Overcoming your personal preference for doing less than is indicated as necessary to accomplish your goals, given your timeline, is doable on an objective level. You can empirically see the prudent moves resulting in the retirement you’ve always envisioned. It’s kinda like workin’ out in the gym, right? Some physical stress today, for what you confidently perceive as worthwhile rewards tomorrow.
Playin’ the silly game of catch-up by doing things you know aren’t wise, is analogous to the gambler tryin’ to make up his losses by doublin’ his bets and throwin’ caution to the wind. Whether you have lots of time, or are watchin’ the last grains of sand in your retirement hourglass hit the pile below, this approach is never, as in never ever the way to go.
BawldGuy Takeaway: Whatever answer you choose is probably gonna be right for you. You wanna make sure whether current comfort or a comfortable retirement is more important to you. Comfort means different things to different people, so understand — there’s no right answer for everyone. It’s gotta feel right for you. Just understand the more or less predictable results of whatever decision you make.
As you’re pondering how to make serious progress towards retirement the next 8-15 years, don’t let the loud ticking of Big Ben intimidate you. But do understand the message it’s delivering — loudly and clearly.
Wondering what you can do to get your retirement Plan back on track? The first step is to gimme a call at 619 889-7100. Have a good one.