Mike Milligan discusses highlights of results beyond money
Listen to the interview on the Business Innovators Radio Network: https://businessinnovatorsradio.com/interview-with-mike-milligan-founder-of-1-oak-financial-discussing-results-beyond-money/
Mike Milligan, the founder of 1 Oak Financial. He delved into the concept of achieving results beyond just financial metrics, emphasizing the importance of emotional well-being, family legacy, and long-term vision in retirement planning.
In today’s fast-paced and often materialistic world, the emphasis on financial success can overshadow the deeper, more meaningful aspects of life. While it is undeniable that money plays a crucial role in achieving comfort and security, focusing solely on monetary wealth can lead individuals and families to overlook the importance of legacy, emotional well-being, and the values that truly enrich our lives. As discussed in a recent episode of the podcast “Influential Entrepreneurs,” hosted by Mike Saunders and featuring financial expert Mike Milligan centered around the idea of “getting results beyond money.” This concept urges to shift our perspective from merely accumulating wealth to building a lasting legacy that reflects our values, aspirations, and the impact people wish to leave on future generations.
The discussion highlights that living a fulfilling retirement—or any stage of life—requires a comprehensive approach that balances financial growth, safety, and flexibility. According to a 2024 Schwab survey, retirees who feel confident about their finances report higher life satisfaction and lower stress levels. This confidence stems not just from having a substantial bank balance, but from having a well-structured plan that encompasses various aspects of life, including emotional health, family legacy, and long-term goals.
To achieve this balance, individuals must develop what Milligan refers to as “retirement chi,” a vision that transcends mere financial metrics. This involves understanding one’s purpose and the legacy one wishes to create. By focusing on the emotional and relational aspects of wealth, individuals can cultivate a mindset that prioritizes well-being over worry. This perspective shift allows for a more proactive approach to financial planning—one that emphasizes security, peace of mind, and the ability to adapt to changing circumstances.
One of the key insights from the podcast is the phenomenon of “retirement deja vu,” which describes the anxiety many people feel when approaching retirement. This sensation can create a sense of familiarity with the stress and uncertainty surrounding financial security, even if one has not experienced retirement before. To combat this anxiety, it is essential to break the cycle of fear and replace it with a clear vision of what a fulfilling retirement looks like.
Milligan suggests that this can be achieved through a structured financial plan that addresses critical areas such as tax management, income stability, investment strategies, and long-term care. However, he emphasizes that the ultimate measure of success in retirement is not found in numerical figures but rather in the feeling of security and comfort. This feeling comes from knowing that one’s family will be taken care of, regardless of external economic pressures.
To foster a mindset focused on legacy rather than just money, individuals must engage in self-reflection and ask themselves meaningful questions. What do I want my life to represent? How do I want to be remembered? What values do I wish to pass on to my children and grandchildren? These questions can serve as a compass, guiding individuals toward identifying what is most important to them beyond financial gain.
In his discussion, Milligan references Simon Sinek’s concept of “Start With Why,” which encourages individuals to explore their underlying motivations. By understanding the “why” behind financial goals, people can align their wealth-building efforts with their core values and aspirations. This alignment creates a sense of purpose that transcends mere accumulation and fosters a desire to contribute to the well-being of others.
Ultimately, focusing on legacy involves recognizing that wealth is not just about what people have but about what they give back. It is about creating opportunities for future generations, supporting causes that matter, and nurturing relationships that enrich our lives. By prioritizing legacy, individuals can cultivate a sense of fulfillment that money alone cannot provide.
Mike shared: “I believe everyone is One of a Kind; and You deserve a One of a Kind Financial Plan
that is about You.”
In conclusion, Mike Milligan serves as a powerful reminder that while financial security is important, it should not be the sole focus of our lives. By shifting the mindset to prioritize legacy, they can create a more meaningful existence that leaves a lasting impact on those who care about them. As people navigate our financial journeys, let them remember to look beyond the numbers and embrace the values and relationships that truly define our lives. In doing so, they can ensure that our legacies are rich—not just in wealth, but in love, purpose, and lasting significance.
Video Link: https://www.youtube.com/embed/SI0TK0vw2vo
About Mike Milligan
Mike Milligan, a Certified Financial Planning Professional, author, podcast and radio show host, and university lecturer, brings 26 years of experience to the financial planning industry. After beginning his career in large banks and insurance companies, he founded his first firm 15 years ago with the belief that “everyone is One of a Kind; and they deserve a One of a Kind Financial Plan.”
Challenging the “One Size Fits All” approach to financial advice, which he refers to as “Retirement Déjà Vu,” Mike developed The One of a Kind Financial Plan. This comprehensive plan addresses taxes, retirement income, investments, long-term care, and legacy, enabling clients to live a “One of a Kind Life.” Recognizing the need for a clear retirement vision, he then created Retirement CHI to supplement the plan. This innovative approach focuses on community, health, and impact, further reducing stress for his clients. Mike leads a team of over 20 professionals across the United States, including Hawaii.
Learn more: http://www.1OakFinancial.com
Recent News & Interviews:
- Mike Milligan discusses The Sea of Sameness https://authoritypresswire.com/mike-milligan-founder-of-1-oak-financial-interviewed-on-the-influential-entrepreneurs-podcast-discussing-the-sea-of-sameness/
- Mike Milligan discusses “Deja vu Traps” in the Context of Retirement Planning https://authoritypresswire.com/mike-milligan-founder-of-one-oak-financial-interviewed-on-the-influential-entrepreneurs-podcast-discussing-deja-vu-traps-in-the-context-of-retirement-planning/
- Mike Milligan discusses Insights of the Paralysis Penalty https://authoritypresswire.com/mike-milligan-founder-of-1-oak-financial-interviewed-on-the-influential-entrepreneurs-podcast-discussing-the-paralysis-penalty/
- Mike Milligan discusses the concept of your retirement CHI https://authoritypresswire.com/mike-milligan-founder-of-1-oak-financial-interviewed-on-the-influential-entrepreneurs-podcast-discussing-your-retirement-chi/
- Mike Milligan discusses The Five Pillars of a Unique Plan https://authoritypresswire.com/mike-milligan-founder-of-1-oak-financial-interviewed-on-the-influential-entrepreneurs-podcast-discussing-the-five-pillars-of-a-unique-plan/
The information provided is for illustrative purposes only and does not constitute investment, tax, or legal advice. Information is obtained from sources believed to be reliable, but accuracy and completeness cannot be guaranteed. Neither Mike Milligan nor his guests are liable for the use of information discussed. Always consult with a qualified investment, tax, or legal professional before taking any action or schedule a meeting with Mike Milligan. Annuity guarantees are based solely on the financial strength and claims-paying ability of the issuing company. Individuals should thoroughly review the contract for specific product features and costs. Income payments and withdrawals from deferred annuities are generally taxable as ordinary income in the year they are taken.
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