Don't hesitate to enjoy your hard-earned money.

Life is a marathon not a sprint, there are times for saving, investing, and even times when growth takes a back seat.

It all hinges on your family's unique goals. No one family has the same goals so you can throw those comparisons out the window.

During my early years of advising when I worked retirees, I saw many clients pass away with substantial savings, often reaching into the millions.

Australia boasts a high life expectancy, with most inheritances going to individuals in their 50s or 60s. Typically, this money goes to people who have already established their financial security.

Sadly, many of these people receiving these big lump sums of money don’t have the strongest relationship with their late parents due to a lack of bonding time. “Dad was always working” is a phrase I have heard too many times.

The key is to strike a balance.

If you have a clear understanding of how much you need to achieve your goals, you can decide how much you should allocate for spending. Conversely, if you're comfortably ahead of your financial targets, consider investing more time in meaningful experiences with your family.

I've had the privilege of working with many parents nearing retirement. I've heard the sentiment echoed time and time again: “I worked too much; I should have spent more quality time with my kids”.

Now I work with families in their foundation years in their 30’s and 40’s, it’s about passing on this message during these year when you are time poor.

Want to know more?

1) You can click here to book a free 15-minute free clarity call with Sam Woodhouse to discuss how this may relate to you.

2) Join our Your Money Simplified email list to start taking control of your money today. And when you subscribe, I'll give you a PDF called My 3-Step Process for Building Your Road Map to Financial Freedom.

The information contained in this article is general information only. It is not intended to be a recommendation, offer, advice or invitation to purchase, sell or otherwise deal in securities or other investments. Before making any decision in respect to a financial product, you should seek advice from an appropriately qualified professional. We believe that the information contained in this document is accurate. However, we are not specifically licensed to provide tax or legal advice and any information that may relate to you should be confirmed with your tax or legal adviser.