How clients can retire while they work

At Adams Wealth Partners, founder David Adams has a unique approach to retirement planning – something he calls “Retire While You Work.” He says this novel approach to wealth management helps his clients start living their best lives while they still can.

“So many people in my parents’ generation work themselves to death,” Adams says. “They get to 65, have a couple of million dollars saved and suddenly think it’s time to retire. But a lot of times, unfortunately, they’re then hit with poor health or they find they don’t actually have any hobbies. So, they end up just going back to work – they don’t get a chance to enjoy their money.”

This startling observation led Adams to question the typical life plan that prioritizes work over well-being. And his philosophy is not just theoretical; it’s deeply personal – rooted in his father’s story, which he explores in his book, The Currency of Time.

“The book details a whole retirement strategy where we find time in our 30s, 40s, and 50s to retire a little bit more each year. That means saving money in a way that allows you to take more time off – so you eventually get to your 50s, and you’re able to move to a passion project. Maybe you wanted to open a yoga studio, or you have a dream to launch a new restaurant – you’re able to then do that.”

Adams’ philosophy is backed by studies suggesting that people who engage in work they love tend to lead longer, healthier lives. According to research from the University of Michigan, published in the Journal of the American Medical Association, working and living with a sense of purpose and meaning led to people actually living longer.

“You don’t necessarily need $5 million saved up because you’re staying active, you’re healthier, you’re enjoying what you’re doing and continuing to gain an income,” Adams says. “The word ‘retirement,’ the way our industry explained it when I started my career, is an antiquated term. Most people nowadays are looking at ways to not retire but to spend more time doing things they love with people they love.”

This holistic approach to financial planning is something that emanates throughout the DNA of Nashville, Tennessee-based Adams Wealth Partners. Adams believes that when an advisor focuses on only one aspect of portfolio management without understanding a client’s unique cash-flow needs, retirement date, and different life events, it’s really doing them a disservice. Instead, customizing financial plans to fit the individual needs of clients is where Adams’ expertise shines, and is the future of the sector at large.

“You have to have a team that’s nimble, holistic, can offer all of those services and not operate in a silo,” he adds.