Independence has as many meanings as you have clients, but I think it’s safe to say that for most of them it means being able to live life on their own terms. As a financial advisor, you know better than anyone the impact you can have on helping clients achieve independence––however they define it. One thing is certain: curiosity, work, and leisure are all integral to the lifelong pursuit of happiness.
When balanced, curiosity, work, and leisure make our lives rich and fulfilling. A truly independent life is one in which we are constantly learning, engaging in meaningful activities (including work) that challenge and fulfill us, while also reserving time for rest, relaxation, and fun. Anything less will leave us feeling empty and unfulfilled. Liberation comes when we learn to integrate all three.
Curiosity
The only way to keep pace and flourish in this fast-paced world is to be a lifelong learner who continues to grow and experience all that life has to offer. One’s degree (or lack thereof) should never define who a person is, and it certainly doesn’t guarantee independence. Being curious is the doorway to independence. Personally, I have realized the greatest rewards by following my heart instead of chasing a career path that might have paid well but would have taken too much from me. Don’t get me wrong; I’ve taken a detour or two and learned some hard lessons along the way. But the fact of the matter is that being constantly curious has helped me maintain my independence. Not only is it okay to be curious, it’s an essential element of independence.
Work
It is simply not realistic to expect someone who isn’t old enough to purchase a beer to decide on a course of study for employment that will interest them for the rest of their lives, given the realities of the workplace and human nature. Most people don’t have a clue about how their lives will evolve, especially when they are just graduating from high school. Toiling away for decades at something you find unfulfilling can make life miserable.
The days of working for the same organization for life has all but vanished from the landscape. According to the Bureau of Labor Statistics, during their lifetimes, Millennials will have worked for 18 different organizations across six careers. Boomers have faced the hard truth that many organizations no longer value their experience.
During your conversations with clients, encourage them to understand that they have options––options that may require some planning, but that’s where you can help. Clients need to understand that they shouldn’t go through life focused primarily on life after retirement. Work is an essential component of who we are—it shouldn’t end just because someone turns 50, 60, 70, or even 80––and it shouldn’t be a miserable experience. Clients need to understand and plan for this reality, and you can help.
Leisure
What’s the point of independence if you can’t enjoy it? Many people work for years with little or no time off—a few may even brag about it, relegating leisure and relaxation to their retirement years. When they finally get there, they’re miserable because they realized what they missed along the way. Leisure and relaxation are not “nice to have”—they are essential and need to be integrated on a regular basis. It makes us more curious and work more fulfilling.
Encourage your clients to integrate curiosity, work, and leisure into one complete lifeline. Help them understand that their life course doesn’t need a definitive finish line or retirement date. Only then will they discover what true independence is. And once they do, there’s no going back.
Getting the Conversation Started
The question to ask your clients after they’ve shared what they would rather be doing is, “What’s stopping you from doing it?” Get the conversation going by having them articulate what obstacles they need to overcome to get from here to there. Are they willing to take such risks or make potentially difficult decisions? If they aren’t, they will never truly be independent, no matter how much money they have.
Your clients can do what they really want to do if they are serious about making it happen. For some, the motivation comes from facing the fact that they just aren’t happy doing what they are doing—and frustrated with themselves for not being proactive about making changes. For others, the motivation comes from tapping into the dreams, passions, and energies they have stored up within themselves that are not being expressed through their current circumstances. Regardless, the conclusion should be the same: life should not be defined as what you may do “one day” but instead what you can do now to live your best life. Once your clients decide to do what they’ve always wanted to do, they pretty much erase any artificial finish lines. When they stop focusing on retirement as the finish line, they are truly free. And they’ll never forget your role in helping them achieve that freedom.
