Richard Branson is a 66-year-old serial entrepreneur and self-made billionaire from England.  This week, he said he has no intention of ever retiring.  He attributed his pro-work attitude to the English philosopher, Alan Watts, who died in the US during 1973.

Among other things, Alan Watt was an Episcopalian priest who said life is not a journey somewhere.  There is more to life than merely travelling to retirement.  What are you doing . . . is far more important than . . . what have you done?  (see https://vimeo.com/176370337 )

While I do believe work is good for the soul, I think this binary view of — working or not working — is too business-specific and does a disservice to the many volunteer activities, which is even more important for some people than working.

So, what should a financial planner advise?  First, we are programmed to encourage saving.  How much savings does a person need?  The answer is always MORE!  It is against our DNA to ever tell a client to stop saving.  That is a moral certainty!  If work is good for the soul, is saving therefore good for the soul?

Certainly, we have clients who have far more savings than they will ever need.  Should we tell them to buy frivolous things?  Who defines “frivolous?”  Do we really have an obligation to maximize inheritance to the children?

How do we tell a client “you’re an employee and therefore need to save more?”

Now, what kind of advice would a computerized “robo-advisor” give to a entrepreneur?  MORE!