Quit Cutting Your Own Grass, Ep #208

Sep 6, 2021

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In retirement, you have all the time in the world, but are you using your time wisely? I recently read an op-ed article from CNBC about the power of delegation and it got me thinking about the way we spend our time.

On this episode of Retirement Starts today, we’ll explore that op-ed article, I'll share what I learned about inherited IRAs this week, and I’ll answer a listener question about retirement planning beyond the 4% rule.

Outline of This Episode

[2:22] What I learned in my office this week
[5:24] An inherited IRA example
[6:35] The value of paying others to do services for you
[10:55] A question about episode 193
[14:52] Check out my retirement guardrails video

What is the highest use of your time?

Are you planning to live your best life in retirement? If so, you may want to consider delegating various tasks that could be better handled by someone else. Even if you have lived a life of frugality you should ask yourself if doing certain tasks is the best use of your time. You may receive a better return on investment and return on your health by hiring someone else to do certain services for you. Use your time to enjoy life rather than by doing menial tasks.

Tasks that may be best done by others

If you can afford it, consider hiring someone to complete these tasks for you.

Hire a lawn care service - Not only will having someone else care for your lawn save you time, but it could also save your energy, and maybe even save you from heatstroke, or worse.
Use a travel agent for vacation planning - A professional travel agent can help keep your vacation costs down and save you time on research. A travel agent can also assist you with problems during your trip which can be extremely valuable when traveling abroad.
Grocery pick-up, delivery, and ready-made meals - Many of us discovered the magic of grocery pick-up or delivery services during the pandemic. Choosing a grocery pick-up or delivery service can help save you time on meal prep and also alleviate any COVID-19 related fears associated with shopping in person.
Hire a business coach - A business coach can help you overcome hurdles that stand in the way of your personal and professional goals. They can also help you navigate career options and even reduce stress.
Quit doing your own taxes - Leaving the tax prep and planning to a professional can save you time and money.

Which of these services would best serve you?

How will you spend your time in retirement?

Even though you will have more time on your hands in retirement, it still makes sense to use your time wisely. Think about the highest and best use of your time. What could this extra time mean to you? Would it bring an improvement in your quality of life? Could you plan your bucket list or how to leave your legacy? Retirement is all about the what if, so what if you could take some of these tasks off your plate?

Make sure to listen to hear what I learned this week about inherited IRAs and you won’t want to miss a listener question about using retirement guardrails. This episode is packed full of information so press play now to get started.