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PERL
Hello Fight Fans, welcome to Fight Night on channel CONTENDER! Let's get ready to RUMBLE! Introducing in the red corner weighing in at 13st 2lb THE.CONTENDER! In the blue corner weighing in an impressive 16st 9lb is THE FUTURE. 
Tonight's fight is over 12 rounds. The prize is for the UFF (Undisputed Freedom Fight) Belt 

THE.CONTENDER has been training for the future for some time. Since he was born actually; just like everyone else. THE.CONTENDERhas been fighting to achieve his goals and desires; funnily enough just like everyone else. THE.CONTENDERhas searched for the key to making them happen; just like everyone else, where is it damn it!

So this post is about THE.CONTENDER's personal thoughts on what this key could look like. In particular could it unlock the secret to an effective Early Retirement and Life Planning approach? THE.CONTENDER's approach is based on three key parts: 1) Maslow's hierarchy of needs, 2) a concept called LEAN and 3) Monthly Planning process. This is what it looks like in THE.CONTENDER's world:

1) MASLOW

Maslow placed the most important aspects of life at the bottom of a PYRAMID. Water, food and shelter at the bottom as they are essential through to self-actualization at the top.








2) LEAN

THE.CONTENDERwould like to introduce Tachi Ohno of Toyota. He is considered the father of  LEAN in the manufacturing world. LEAN is all about removing waste (Japanese for waste is "muda") and making the products as close to the point of  delivery as possible (JIT - just in time).

What is interesting is that LEAN principles have been simply represented as a house. You need strong foundations, build the walls and top off with the roof while regular maintenance will keep it in tip top condition.

3) PLANNING (Making it Happen):

Project management has lots of models and different approaches depending on what the project is. It can can be very complex such as building a skyscraper or simple in the case of planning a journey to the Zoo.

Over complication and missing steps, have put THE.CONTENDERin hot water in the past. THE.CONTENDERhad to learn how to mange projects and people effectively to make sure he could not see the wood from the trees. 

THE.CONTENDEReventually learnt that planning really is a simple process wits for key repeating steps PLAN - DO - CHECK - ACT. When carrying out these steps a list of checks and skills must be used. Below is a list of the key aspects of planning, leading and execution that THE.CONTENDERhas been rigorously trained on. In THE.CONTENDER's opinion consider all of them, in a robust review process, and you won't go too far wrong:
  • What is your VISION - what do you want- your end goal - Early Retirement and Happiness?
  • Do you have a PLAN to get there - this can be on the back of a biz card or a spreadsheet?
  • Are you keeping everything SIMPLE?
  • Be prepared to ADAPT your plan and goals, make sure you have regular checks
  • Do you have the right ATTITUDE - are you really committed to being frugal for early retirement?
  • Do you see the PROBLEM clearly? is it that you have to pay your debts first or get a new job close to home?
  • Have you DISCUSSED this with your close family / friends and do you have everyone on board?
  • Who is in CONTROL - tracking progress and spotting deviations, obstacles and opportunities and getting back on track if you fall behind.
  • ASSERTIVENESS - get on with it, have a go, back up your convictions
  • INVOLVE everyone in the decision making progress - THE.CONTENDER and his tribe are moving to France, the reason is that the living standard is higher, decent warm weather and it has good schools for the kids; so THE.CONTENDER turned to the grandparents: "what do you think?"
So what if we try combining the life (Maslow) with the continuous Improvement and removal of waste of Lean (Tachi Ohno), with the principles of planning and financial freedom? Here is THE.CONTENDER's interpretation, please read on ;)
PERL (Planning for Early Retirement and Life)

A key part of LEAN is the house this is at the core of the above model. Strong foundations, solid walls and a roof keep the rain and wind out. The LEAN principle of reducing time to delivery is mirrored in planning for early retirement. The continuous improvement part of lean is now geared towards the individuals learning and self improvement (independence and life planning skill building). The core of the house represents MASLOW's human needs and advancement. The PLANNINGprocess encompasses the house, to make sure change happens.

THE.CONTENDER is developing a set of planning tools for PERL - they are not finished yet; we are only in round 6 of a 12 round fight! Still working on the pillars:

Pillar 1 - CFFP (Contender Financial Freedom Planner) for early retirement
"Compound interest is the eighth wonder of the world. He who understands it, earns it ... He who doesn't ... pays it"
   - Albert Einstein
Pillar 2 - CILK (Contender Investigation of Life Knowledge) for the independence and life pillare is well underway in the last few posts. THE.CONTENDER has considered health, career and education. Next on this list is self awareness and spirituality. THE.CONTENDER's challenge is to have a go at creating simple tools for PERL. Time for a plan:


THE.CONTENDER's lofty goal for this project is to get the PERL (Planning for Early Retirement and Life) toolkit up and running with
  1. A calendar - short to medium term planning, holidays events and financial planning reviews
  2. A whiteboard - a weekly to do list and re-occurring activities for health and diet
  3. A spreadsheet planning tool - Early retirement planning, lofty goal setting and keeping everything on track
Do we have what it takes to unlock Early Retirement through a MODEL and some simple tools? Is this really possible? Will it get us through the front door on the way to the combination of the safe.......who knows?

Humankind has an inherent desire to make the life of our children better than our own. Not so long ago it was envisioned a future of robots and leisure. Basic human needs would have been met \ provided for. Work would be to the advancement of humankind and civilization such new planet colonization, WOW that gets THE.CONTENDER's vote! Does the quest for early retirement and independence work towards this utopian future? Would it free up people from poverty and hard labor to "work" on becoming Nobel prize scientists? THE.CONTENDER would like to think, it might help, just a little bit.

THE.CONTENDER has THE FUTURE on the ropes in the corner of the ring, he is dictating the fight, is he going to win the UFF (Undisputed Freedom Fight) Belt?










Welcome New CONTENDER Readers! Take a look around. Start at the first article, browse the all posts or just go for a Random Post. Please feel free to play with the FREE planning tools and checklists.

Keep in Touch:  RSS Feed, follow THE.CONTENDER on Twitter or subscribe to posts by email:

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  1. Isabella30 January 2018 at 10:08

    Different scholars have given different theories about early retirement and wealth management. With the right steps, as mentioned in this article you can certainly attain perfect retirement planning and avoid any issues later. Just remember the chart of the plan – do- check- act.

    ReplyDelete

Are you planning for financial independence and wondering what to do with it. If so is any of the content on this blog of use to you? I would appreciate any comments you have. All the best C

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Welcome to FISH !
You have come here looking for answers. How to get out of debt? How to save and invest? How to retire early and how you want to live in retirement.

Well this is the right place for you as out tribe has been through all of these steps. We no longer work for a corporate employer and have saved enough to retire early. How we did this is shared here on this site for you.

Our little tribe found out these secrets to financial independence in our late 20’s. Since then we have taken early retirement, in our late 30's, in just 7 years. We now live in the South West of France with our two young children.

Along the way I decided to share everything I learnt. My articles and tips on aggressive saving and compound investing are there to help you meet your financial goals fast. I discuss ways to help you decide what you want by building a life plan. This helps to work out how to get where you want to be whilst avoiding the pitfalls along the way.

My expertise was built up working in blue chip corporate jobs, extensive reading and putting it into practice. I have condensed this knowledge into simple strategies to help you meet your goals and not those of the bank or the place you work.

There are free planning tools on this site that help you make a life plan. A plan for your future. The tools calculate how to reach your financial goals in a timeline that suits you. The tools help set out your life goals, make them happen and how to exceed them.

There are tips on how to simplifying your life to remove day to day headaches. These include ways to pay off debt fast buy eliminating wasteful spending habits. How to reduce your monthly bills through choices that actually improve your health and wellbeing. Identifying things you don’t need that sap your time and wallet.

There are little sustainability projects to reduce your dependence on shops and utilities whilst saving money to spend on things you want.

All of these little steps will show you how save 50%+ of your salary so you can meet your goal whatever it is. This huge saving rate can be compounded for very early retirement. I am sure you will find something here for you.

Darren Lee (A.K.A the Contender as in my blog)

 
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