Financial Planning: Taking control in uncertain times

A recent client experience got me thinking about how we might be able to help you, your friends, family and colleagues in these uncertain times.

Earlier this year we took on a couple as new clients. They wanted to retire in Spring 2021, a year away, but were concerned as to whether they had enough money to do so. Well things have certainly changed since our initial discussions. We’ve all been hit hard by the impact of Covid-19 , but from a financial point of view, these two have been hit particularly hard – he has been made redundant and she was initially furloughed and has now also been made redundant. This could potentially have a major impact on their plans. Can they afford to finish working early? Are they going to have to put themselves back to work in what is likely to be a very uncertain employment market? Is their retirement going to look very different to what they’d planned?

We’ve worked with them over recent weeks to reassure them that they have more than enough.  They will be financially secure and this major “bump” in their journey is not one that will upset their plans. In fact, they can retire a year earlier than planned and have more than sufficient income.  We’ve even planned in extra expenditure, extra budget for holidays (when they can go!) and additional income that means that they can help out their families, both now in these uncertain times, but also into the future. The sense of relief is immense!

Our clearly defined process of financial planning helps our clients first establish their current position, understand their goals and objectives and then plan effectively to meet those goals. In times like this, where there’s very little we can control, our financial planning process helps put our clients in control – with a sense of focus, clarity and direction.

If we can work with our new clients to achieve this, do you know anyone that would appreciate our advice, guidance and common sense approach? Maybe you’ve got a friend or colleague in a similar position?  Or perhaps someone who’s a little further away from finishing work, but feels that they now need to take control of their situation?

We’d be delighted to help and would love to hear from them. It may be that we’re not the ideal people to work with them, but even if we can’t help, we can point them in the right direction of someone who can.

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