As you may have learned during your working days, 80% of results come from just 20% of actions. This concept, known as the Pareto Principle, can save you time, meaning you have more of it to enjoy during your retirement.
In business, you may have seen that 20% of customers accounted for 80% of profits. Or that 80% of expenses came from only 20% of items purchased.
In your personal life, you may spend 80% of your time in 20% of your house. Or that you wear the same 20% of your wardrobe 80% of the time.
How the Pareto Principle Applies to Retirement
Begin by making a list of all the tasks, activities, and responsibilities in your life.
Decide which of them represents the top 80% of the “results” you’re looking for. In this case, results may be more time with family, downsizing your home, volunteering at a favorite charity, or finally traveling.
Now, look at where you’re spending most of your time.
If you’re like most people, you’re spending much of your time running errands, paying bills, reviewing finances, and organizing your home. And chances are, most of the time, these activities are not bringing you closer to the retired lifestyle you want.
Just like when you were still in the workforce and would delegate or outsource tasks, you can do the same thing!
Hiring a personal assistant and daily money manager to take those tasks off your list will leave you the time and energy to spend on the things that matter to you.
Time is valuable! Even more so in retirement.
Would you rather enjoy your free time or spend it paying bills and running errands?
Don’t be afraid to hire help so you can spend your time doing the things you’d always dreamed of doing.