In a world that is busy online and offline, we can often get caught up in the pace of life and sometimes trivial conversations. There are many topics that can make us feel uncomfortable, however,  a conversation about death can be one of the most challenging of all. Being confronted with our own mortality is difficult but like it or not death is a reality so it’s important that you live life to the fullest as much as you can.

Bronnie Ware worked as a palliative care nurse in the Australian health system, taking care of terminally ill patients during the last 12 weeks of their lives. During that time she was able to share personal conversations with these people about their lives and more importantly what they regret.

Throughout her conversations, it became evident that there were many people that Bonnie cared for that had similar regrets. Do these regrets ring loud to you?

Doing what’s expected rather than pursuing dreams

Bronnie indicated that this is the most common regret. Many believed that the fear of expectations from family, friends and even society meant that many didn’t pursue the dreams that they had long held. When you’re nearing the end of your life, it’s easier to look back and see all the things you didn’t do and wonder how your life would have changed. Many believed they would have been happier if they pursued their dreams.

Working too hard

This isn’t a hard one to believe as many New Year’s Resolutions include “working less” or “achieving a work-life balance” or something along with those words but also many of these New Year’s Resolutions goes unfulfilled as life gets in the way. Many were regretful that work took more of their time and they spent less time with family and friends.

Surprisingly many said that if they had their time over they would simplify their lives so that they don’t need all that money they felt they needed to work for, so they could concentrate on spending time with people that meant the most to them.

Not speaking up

It’s interesting to note that those terminally ill were upset that they hadn’t expressed their views, spoken up or talked about their feelings more. They realised that holding in feelings and thoughts meant that they bottled their feelings up which turned into resentment, hate, and other unhealthy reactions.

Not staying in contact

Many missed their friends and were disappointed that they hadn’t stayed in touch with friends that had been an important part of their life. Connection with people outweighed the importance of the pursuit of money or material things.

Not being happy

The idea of facing death can make create pivotal revelations but the most interesting is that many get an understanding that happiness is a choice.  In the pursuit of the next thing to make them happy, they didn’t stop to actually feel happy. You should enjoy the life you have now – smile and be happy that you are where you are. Appreciate what you have while still planning for what you want.

Many of us know that feeling of hindsight – If you could go back and do something again you’d change how you acted, what you did or maybe said, so why not learn from those mistakes and keep calm and carry on.

Create the life that you want by setting goals and taking steps to achieve them. Seek a great coach and mentor to help you along the way as well as keep you accountable. But also smile and celebrate your achievements without regret.

Many of your goals will have a financial aspect so getting your money affairs under control is a great place to start. The best way to achieve your goals is to use the cash flow that you have in the most effective way. The JBS Financial Team want to make sure that you are achieving your life goals, those dreams that hold true value to you.

Reach out to us here so we can support you on your pathway to living the life you dream of.

Source Material: Bonnie penned a blog piece on her experiences and further wrote a book called The Top Five Regrets of the Dying – A Life Transformed by the Dearly Departing.

For the majority of us leaving our office desks forever is something we can only imagine about as it’s so far away.  For the luckier ones that are much closer to retirement this can be a time of excitement and relaxation.  Spending our days at the golf course or with our community groups, families, friends and grand-kids all day every day sounds like heaven on earth.  The transition from full time work to full time play however may become unbearable and is sometimes full of trepidation.  Here are 5 facts about retirement that you should be looking at before retiring.

1. One of the first things retirees discover about retirement is that they have too much time on their hands with nothing to do. Playing a round of golf with mates, or enjoying a drink at the bar will only fill up a certain amount of time in the day and you can’t go doing the same thing day after day.  Couples and singles alike will quickly become very unhappy once they run out of ideas on what to do with their time.  Having ideas in your head on what to do in retirement is one thing; however actually doing them is another.  We often hear clients who have a weekly plan on what they want to do are those who enjoy it most.  You will never be as busy as you were pre-retirement so it’s important to map out ongoing hobbies, part time work and social events before embarking on retirement.  That way you might be one of the clients who say to us they are so busy, they don’t know how they had the time to work!
2. Retired husband syndrome – Many couples get very excited about retiring together, travelling the world together and spending intensive time together. If this is you then consider the fact that you and your other half may have been together for the past 30 years working full time.  Aside from weekends and holidays, you never have to see each other for more than a couple of hours in the morning and night.  Now all of a sudden you see each other 24 / 7 and may even start to discover that you can’t stand being together for a prolonged period of time.  Each of you having your own hobbies, goals and friends will ensure you don’t spend intensive time together.  As my mother said when my father retired, “I married you for better or worse, but not for lunch”.  In other words, she wanted to ensure he also had his routine and didn’t interfere in hers.
3. Not having enough money to fund retirement – Once retired you might have the goal to travel, see the world and complete your bucket list, unfortunately you might not have the funds to do so. Travelling can become very costly.  A single international trip can set you back many thousands of dollars.  By the time your second trip comes around you may find that you don’t have enough funds anymore, so eating out may be out of the question and this year you won’t be able to travel overseas to see your grandchildren.  Having a good financial planner early on can prepare you and set realistic goals for your retirement and help you build your super to achieve them.  This way at least you have a more clear expectation of what you can afford in retirement and prevent any nasty surprises once you’ve retired.
4. Entitlement to social security – At present, the Australian pension age is age 65, which is subject to rules, regulations and changes in the future. During retirement some retirees aren’t aware of what social security benefits they’re entitled to.  Even if you are receiving funds from your Superannuation benefits, you may still be entitled to government age pension (subject to income and asset tests).  Having a good financial adviser will ensure you’re kept up to date regarding any social security payments you’re entitled to.
5. Losing your identity from not being at work – For those of us who are passionate about our profession, this becomes our identity. Anytime your friends or family think of Engineer, Accountant or Doctor, they think of you.  So it’s no surprise that once you retire you may feel like you’ve lost your identity, which may lead to discontent and even depression.  Without the daily interaction of your work colleagues, your mental and even physical health may start to deteriorate.  Retirees who are not very active tend to decline rather quickly mentally and physically.  Joining up to the local gym, taking up classes and just continuing to meet new people will have a longer lasting affect for you.  After all, we all need something exciting to look forward to in the future.

If you are one of the lucky ones thinking about retirement, make sure you start to plan early and talk to the team at JBS so there are no nasty surprises.

My partner and I have always taken it upon ourselves to build towards our family’s financial future. Having a roof over our heads and bills paid was one thing but we also wanted savings put aside each week for a rainy day, some savings in the kid’s bank accounts and back up plans for unexpected life events. From time to time I get asked how we’re able to have a mortgage, with 2 kids and think about saving all with me being the only one working. I simply explain that it all comes down to planning well before committing ourselves to any major long term commitments. Then it’s just a matter of defining the steps required and sticking to our guns.

Before we bought our home we decided that it was important to set out the financial ground work regarding what we needed to do in order to fund our loans, living expenses and at the same time able to save each week. So we sat down to determine what our repayments and bills would be once we moved into our home. From there we were able to work out the exact amount we were realistically able to save each week and made a commitment to put those funds aside without fail. Furthermore we made a commitment to put aside funds each week into our son’s bank account. Again this was a realistic figure and we stuck to it each week.

The main point we focused on was to be realistic in what we set out to achieve and how much we could achieve. Often I would think to myself that I’m able to save a certain amount each month; however my bank account does not reflect my theory. Once our second child was born, we again went through the same process to ensure we were continuously building towards our family’s financial future.

We also knew that having a saving’s plan and strategy in place wasn’t enough. Being the sole income earner of the family, I also took it upon myself to ensure my family was protected if I was suddenly unable to earn an income. Several months before we bought our house, we discussed the amount of personal insurance I would require in unforeseen circumstances, which takes into account future long-term loans and living expenses. I then made sure my personal insurance cover was all in place months before we started to look for a house. As you never know what might happen.

Having a financial goal for our family’s future is great but to achieve it, planning and commitment is key. Time and time again we have experienced that thorough planning has many benefits. It firstly provides us with a realistic expectation of what we’re in for and more importantly provides motivation to achieve the financial goals we set. Once our plan is in place it was then up to us to commit, keep each other accountable and more importantly encourage each other to achieve what we set out to achieve.

– Andy –

The great thing about welcoming in a new year is it gives us an excuse to reset things in our lives, whether it be our lifestyle, expenses, finances and the list goes on. We find the best way to do this, is setting yourself some goals that you can work towards.

Start off by sitting down, including with your loved ones, and write out all your goals. Write them down no matter how small, silly or crazy you may think they are. They also don’t necessarily need to be goals that involve spending money, and can even be things you want to work towards over the next few years.

Once you’ve written down all your goals, you then need to work out which ones are the most important to you, and start prioritising all your goals from the ones you feel are really important and want to achieve first, to the ones that maybe can wait until you’ve achieved the others.

The final thing to do is work out the cost (if any) of achieving each of your goals and your expected time-frame on achieving that goal, i.e. is it something you want to achieve in the next 6 months or something that you want to achieve by 2020 for example. Once all these details have been panned out, it can then make working towards your goals easier, because now you know which ones you want to work towards first, how much it’s going to cost you (so you know how much you need to start saving), and finally what your time-frame is.

Another handy thing to do is sit down with someone else and talk through your goals with them, who knows they may even be able to give you some insight on how best to achieve them, or potentially help you get your priorities right. Here at JBS we are big believers in setting goals and working towards them so we’re always happy to talk through your goals and work on a plan to achieve them, so don’t hesitate to pick up the phone and give us a call!

– Peter Folk –

At the start of every new year, many people set new goals for themselves however not everyone is successful. Many of us identify what we want to achieve, however we don’t think about and plan how to achieve it. It’s proven that people who develop action plans can experience less anxiety, increased confidence, improved concentration, greater satisfaction about achieving their goals and are more likely to succeed.

We can often also have goals wondering around in our mind that we end up forgetting so “ink it, don’t think it”. By writing down your dream or goal, you make a conscious commitment that this is what you want to achieve. Once you have made this commitment, put it in places that can easily be seen. Put it on your home screen of your phone, tablet or computer, your bathroom mirror, in your gym bag or on your kitchen fridge. These reminders and a positive mindset will help you stay motivated for achieving your goals.

One of the most exciting things that JBS are fortunate enough to do is celebrate with our clients who achieve their financial goals and are living out their dreams. Contact the team at JBS to book an appointment so we can help you achieve your financial goals.

Bring on 2018!!

Whether it’s to save for that new car or to sign up to the gym, the beginning of the New Year is often the time where we look to start new goals or review our existing goals.  This year I’m again looking to renew my dieting goals, which weren’t very successful in the past.  For anyone who knows me now wouldn’t believe it if I told them I weighed 63kgs and still standing at 180cms at the end of high school. I would be able to eat whatever I wanted and whenever I wanted, without having to be concerned about the consequences. I suppose many of us are in the same situation, whereby we find our metabolism slowing down as we get older.

Fast forward 12 years after high school, I now find myself married with a 3 year old son and weighing a lot more than the original 63kgs I was back in high school. I first noticed my weight during my regular visit to the scales at the gym. I would normally weigh myself just to ensure I was putting on muscle mass and not fat, but in reality it was a bit of both.  It was however a visit to mum and dad’s house that really made me think about getting my weight and health habits back on track. ‘Luckily’ for me I’m from an Asian family, which meant mum and dad’s very upfront and sometime blunt about what they tell me.  So one day, dad (purely from a visual observation) told me that I was getting really round on the edges. Well those weren’t the exact words he used, he was actually a lot more blunt. I didn’t take this to heart at all cause I know my parents meant well and frankly I’m used to the bluntness.

So with that in mind I decided to commence a diet, which consists of a stringent food and exercise regimes. This original plan initially worked well, as I noticed I was losing a little over 1 kg in the space of several weeks. Furthermore I noticed my muscles were becoming more defined, or it could’ve just been my ego, not sure now. Regardless it was working! I would only eat vegetables and greens along with a small portion of meat every day. All the soft drinks and junk food had completely dropped off from my diet. I have to admit the first week was really tough and having no junk food really made me crave for it even more. It was only after the 3rd week that I decided a chocolate bar wouldn’t hurt. It was also around this time that I caught a cold. I suppose it was only matter of time, before I caught a cold considering my now 3 year old son is constantly coughing in my face.  It’s ok though because he gives me a hug afterwards, so it’s all worth it.  After I caught the cold, all I could think about was getting better and the entire diet regime went out the window. In the space of 1 – 2 weeks, I had gone back to my old eating habits and completely forgotten about dieting. So it’s clear that a sudden strict diet doesn’t work as it shocks the system and can’t be sustained for long periods of time.

After several months have passed my determinations of losing weight have again re-surfaced.  This time I told myself I was going to plan my next attempt instead of blindly rushing into a new diet fad.  I kept in mind my overall goal which was to change my lifestyle with regards to food consumption and exercising.  So this time I’ve decided to put a plan in place. I was going to eat less with each meal and ensure each meal consists of more greens and fewer meat.  I also had days set out where I was allowed to have sweets and which days I wasn’t allowed to have sweets.  On the exercise side I’ve decided to do more endurance and cardio exercises as appose to heavy weight lifting, which I find puts on more body mass.  Again I’ve organised for myself to do cardio exercises on certain days and lift weights on other days.  It’s now been close to 8 months since I’ve put in place my new diet regime and I can’t say I’ve stuck to it 100% of the time, however the diet regime has changed the way I think about my health. I’m still losing weight, however at a slower rate.

So what have I learnt from all this? We all hear those crazy diet fads, which promise weight loss within months, weeks or even days.  I find that some of these fads do in fact work, however only in the short term because let’s face it, we all love fatty /junk food here and there. I found that depriving myself of these types of foods altogether doesn’t work, as it made me crave for it even more. So when I started to eat junk food again, I ate a lot more of it.  I now believe the best way to lose weight is to change my lifestyle in line with my dieting goals and just as important is to plan how I’m going to achieve those goals.  As we’ve just entered the New Year, I’m more motivated than ever to review my health goals, which hopefully will keep my waist line under control.

Top level athletes, successful business people and achievers in all fields all set goals. It gives them something to aim at, something to aspire to, something to dream of. They don’t just meander through life expecting things to happen. They create a goal, plan out the steps to achieve their goal and from there work hard to achieve their goals creating a sense of achievement along the way. Goals can be in relation to anything; whether it be a fitness goal “I want to lose 10kg by the end of the year”, a financial goal “I want to have $1,000,000 by the time I retire”, or a lifestyle goal “I want to travel to Disneyland with the kids for my 40th birthday”.

So why set goals?

There are 5 main reasons why you should set goals:

–  1.    Goals propel you forward – Having a goal written down with a set date for accomplishment gives you something to work and aim for.  Even if you don’t achieve your goal, just by attempting it, you put yourself in a better position than what you were in before. Let’s say your goal is to save $12,000 by the end of the year.  Even if you only save $5,000 by the end of the year, you are still better off than what you were previously.

 –  2.    Goals help transform the impossible to possible – We all have dreams that seem impossible to begin with. However when you break those dreams up into smaller goals all of a sudden it seems possible. Instead of saving $12,000 a year how about saving $250 a week. Achieving these small goals frequently will help build motivation and really drive you towards achieving your bigger goals.

–  3.    Provide inspiration – Some people just go through life doing what they’ve always done. They therefore achieve what they have always achieved. If you truly want to accomplish something that you can only dream about, you need to make a goal for yourself and work every day towards achieving it. Otherwise you will never ever get there.

–  4.    Goals hold you accountable – If you don’t have and record your goals, how can you look back and see if you achieved them or not, and if not why not? If you set yourself a goal and you don’t achieve it, you can see what didn’t work and make changes to improve your situation and give you a better chance of achieving your dreams.

–  5.    Goals tell you what you really want – Sometimes we set goals that aren’t really what we want to achieve. When we achieve these goals we don’t really get the sense of achievement that we might expect. A goal may be to purchase 10 investment properties by the time you are 40. The question you need to ask yourself however is why? It could be because you wish to supplement your income with the rent and hence spend less time working. Again, ask yourself why. Is it because you wish to have a less stressful life? Do you want to spend more time with the family? Maybe you just want to play more golf. Asking yourself why you want to achieve something will help discover what you really want and you may find alternative ways of getting it.

While we can’t help you lose weight, JBS can help you with the financial aspect of achieving your goals. Whether that be, saving up for a new home, retiring at age 60, building up a passive income or just building up an emergency account, give us a call to help uncover your financial goals and put you on the path to achieving them.

There’s something about starting a new year that brings with it a tonne of motivation. That fresh start where you can re-set, clean-up, and where energy levels are high and excitement at its peak. Where our passion for giving those dreams of ours a really good shot is reignited and our visions of living bigger and better are at the forefront of our thinking.

However, we get to March and the motivation starts to taper off and by April most goals have been abandoned or forgotten about. Research shows, in the end only about 8% of people stick with their good intentions.

So what do this 8% do differently? Are they just more willing to invest wholeheartedly to work towards their goals? Maybe, but experts say it has more to do with how they set themselves up for success. Specifically, they use January to re-set themselves and clean up any messes from the previous year, then invest the time and effort into effective goal planning.

So with the new year having now kicked off, here’s a list of the best results-driven tactics to ensure you are part of that 8% and make 2017 your best year yet:
Get Super Clear

Vague or generalised goals such as ‘save more’ won’t serve you. They need to be specific and well defined so that they can be measured.

–  What?

–  When?

–  And How?

Specific goals such as ‘pay off credit cards by March’ are easier to measure. By then mapping out the action steps required it is then easier to achieve the goal than not.

But there’s also the why? Connecting emotion with your goals will help you remember why they were important in the first place and will reignite your passion for reaching them when things get difficult.

Write it Down

Study after study has shown that those who write down their goals accomplish significantly more than those who don’t. Why? Putting pen to paper forces you to clarify what you want, it motivates you to take action and it makes it easier for you to see your progress and celebrate your successes.

Get Support & Accountability

We’ve all heard the importance of being around the right people, especially when chasing our goals.  When you’re in pursuit of a dream, there are many elements that can resist your path and block your forward motion.  Surrounding yourself with people that are genuinely cheering for you will help you disengage from this resistance and keep you moving forward.

That’s where JBS fits in. We believe (and know!) that the biggest influence of you achieving your financial and lifestyle goals is firstly to have clarity on what your goals are, then aligning your cash flow to help you achieve those goals. Fortunately for you we have a program designed to help you achieve this.

The JBS Cash Coach program is tailored to you, your needs, your goals, and the actions you need to take to achieve those goals.  We take the time to understand you, then design solutions to help you achieve your goals. We help you create a spending and savings plan that is aligned to your goals, and keep you accountable and motivated on a monthly basis to maximise the probability of achieving your goals so you can have the lifestyle you are entitled too in 2017 and into the future.

The early part of 2017 is the perfect time de-clutter your life of the excess build up from last year, clean up, clear your head, set motivating goals, and get moving towards those goals.

The JBS Cash Coach program will help you get the most out of 2017 but only if you take action. Make time and join the best support network around (aka JBS Cash Coach).