Case Study: Mick Jackson’s Human Capital Development Journey
From Redundancy to Resilience: A New Chapter in Retirement Planning
Mick Jackson, a 52-year-old office manager, finds himself at a crossroads when he receives a redundancy notice. For over a decade, Mick had thrived in his £60,000-a-year role, but advancements in technology rendered his team unnecessary, leaving him with just three months of employment before being left to figure out his future.
With £350,000 in his pension pot, £80,000 in savings, and a mortgage of £40,000 on his £250,000 house, Mick isn’t starting from scratch, but his situation presents some serious challenges. His living expenses of £36,000 per year, coupled with lifestyle spending, mean that his current financial resources will be stretched thin long before retirement. And, with his pension locked until age 57 and the state pension unavailable until 67, Mick faces a harsh reality: he risks outliving his financial capital.
A Crisis of Confidence
Confused and anxious, Mick turns to a trusted financial adviser friend for guidance. The advice is blunt and dispiriting: he’s been told he left it too late to build his retirement fund. The recommendation? Downsize his home, cut expenses dramatically, and find any job that can carry him through the next few years until his pension kicks in.
It’s not the future Mick envisioned, and this advice leaves him feeling even more uncertain. Selling his home feels like admitting defeat, and taking on any old job feels like a step backward. He wonders: Is this really the only way forward?
Enter Planning My Life
Unwilling to settle for a bleak retirement, Mick decides to take control of his situation by joining Planning My Life, a community dedicated to self-directed financial planning. He starts using HapNav, a powerful cash flow planning app designed to help individuals make informed decisions about their financial future.
Mick enters his financial details into the app and is quickly faced with two glaring red warnings: his savings are insufficient to cover his basic expenses for the next five years, and his pension, when combined with the state pension, will likely fall short, risking depletion of his assets. The message is clear: Mick needs a strategy to bridge this gap.
The Spark of Human Capital
Mick sends a message to the Planning My Life team using the Bottomless Email service, hoping for a new perspective. Instead of focusing solely on financial capital, the team responds by asking a more personal and probing question: What are you good at? What do you love to do that the world needs and will pay for?
After some reflection, Mick realises that, beyond his office management skills, he has a deep passion for the outdoors, especially for organising trekking expeditions along the scenic trails of Northern England. Not only does he enjoy the activity, but he’s also great at leading teams and coordinating events—a skill set that could easily translate into a business opportunity.
Crafting a New Future
With this fresh perspective, Mick is invited to complete the Human Capital Development Framework, a tool designed to help people leverage their skills, passions, and experience into a sustainable livelihood. Working through the framework, Mick begins to see a new future unfold—one that doesn’t require him to downsize or scramble for a mundane job.
Mick sets his sights on creating a business around what he loves—coaching newly retired individuals on how to start and run a successful trekking business. The business model is structured around a value ladder, where Mick offers personal coaching for £750 per month to two mentees, runs a monthly masterclass for £200 each with 10 attendees, and provides a video-on-demand subscription service for £15 per month to 100 subscribers.
With an initial setup cost of £5,000, the plan is designed to break even by month six, worst case by month 18. It’s a sustainable business model that Mick can operate for the next 15 to 20 years, giving him both financial stability and the opportunity to enjoy work that doesn’t feel like work.
Financial Clarity and Peace of Mind
Mick drops these new financial assumptions into HapNav and watches as the numbers transform his future outlook. He can now see a path where he not only maintains his current lifestyle but actually improves his work-life balance. There’s no need to sell his home, and his anxiety about running out of money fades as he realises he can build a business that supports him for years to come.
Beyond financial security, Mick discovers something even more valuable: peace of mind. He’s no longer relying solely on his pension or savings but has unlocked a new chapter in his life by tapping into his human capital.
A Journey of Transformation
Mick’s journey is a testament to the power of a human capital development strategy in retirement planning. Rather than accepting the traditional path of cutting back and downsizing, Mick chose to invest in himself, using the tools and resources provided by Planning My Life. His new business, based on his passion for the outdoors and his skills in leadership, not only secures his financial future but gives him a renewed sense of purpose.
Planning My Life—at just £19 per month—helped Mick turn his redundancy into a reinvention, proving that it’s never too late to plan for a fulfilling and financially secure future.
Visit http://www.planningmy.life for more details.
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