In 1989, the passing comment of an older gentleman changed the course of Relaxing Retirement Coach founder Jack Phelps’ professional life and launched a crusade that has now entered its fourth decade.
As Jack explains: “He and I were casually discussing a new savings discount that allowed parents to prepay all four years of college tuition. His kids had already graduated, he said, or he would have jumped at the chance.
It hit me like a lightning bolt. I thought he was nuts! Like this man, my father had been a high school teacher, but my parents didn’t even take a vacation for twenty-six years. Why did this guy believe he could have prepaid for college? How was he so relaxed when my parents worked hard and saved, but always worried, and never got to enjoy what they’d saved for? (Unfortunately, in the Spring semester of my freshman year, my mother developed an inoperable brain tumor. After a very long 19-month battle, she passed away at the very young age of 57 during the Fall of my junior year.)”
Working to answer those questions, Jack came across a disturbing statistic: after a forty-year career, only a tiny percentage of Americans has saved enough to free themselves of their dependence on their paycheck from work and still maintain their desired lifestyle.
This struck him as incredibly sad. What made that tiny percentage so fortunate?
Jack’s first thought was the obvious one; they simply had more money. But that wasn’t the case. “In the thirty-one years I’ve worked to develop The Relaxing Retirement Formula™, I’ve met with hundreds of men and women who did a phenomenal job saving money during their working years, but who still faced every morning with enormous anxiety, and lived like they might run out of money that night!
What we’ve witnessed over and over is the same, tiny percentage of Americans who exercised the most discipline and took pride saving and investing a large portion of their earnings during their working years is the same minority who has the hardest time “flipping the switch” from saving what they’ve earned to spending what they’ve saved when their paycheck from work ends.”
We call this The Paycheck Dependency Threshold™
“It just feels strange” is the phrase we hear the most! After all those years of ingrained habit, spending what they’ve taken a lifetime to save feels irresponsible to them. The unfair result of this dilemma for too many of these dedicated savers is one of two paths they end up taking:
They work longer than they need to because they think they have to, or
Path #2: They stop working and “retire,” but because of their fear of making a mistake and running out of money, they spend their retirement years worried they’ll run out of money.
We’ve had the privilege of running a retirement coaching program to help dedicated savers navigate this complex transition for over 30 years so we know just how hard it is. Right at the point of your life when you most deserve it, you’re not as confident as you need to be!
Unfortunately, all those years of discipline and saving, of building up money and investing it, are of no value to you now if you don’t have the financial confidence to spend and enjoy it.
Fortunately, there are very specific mindsets and strategies that a very small percentage of successful Americans practice and adhere to that too many dedicated savers who remain stuck in Path #1 or Path #2 are not taking advantage of.
And, this is Path #3 that we help our Relaxing Retirement members transition to: You make confident, informed decisions and enjoy the rich, full life you’ve earned 100% on your terms.
With the tools, strategies, checklists, and systems our Relaxing Retirement Coaching Program™ provides, we are on a crusade to help dedicated savers confidently transition down Path #3 to the life they’ve earned free of dependence on a paycheck.