Caroline came to us as a new client when her divorce was about to be finalised. She had given up work to be a ‘stay at home mum’ on the birth of her first child some fifteen years ago. This, coupled with the fact that she had not had much involvement with the family finances, left her feeling in a very vulnerable position. But she was keen to take control and gain back some independence. She also had some very clear objectives:

• She wanted to maintain the current lifestyle for her children – being able to afford at least one holiday per year was very important
• Caroline’s children were to remain at private school – although her ex-husband was funding the school fees, she wanted to ensure she was able to afford any school trips and any other expenses that might need to be covered
• She planned to return to work, but was concerned that working full time would mean that she wouldn’t be there for her children at a time when she felt that they really needed her support – let’s not forget, they’d also been through the emotions of the divorce
• With her mother having died early, Caroline was all too aware that life can be short. She hoped to be able to retire early and have the time to enjoy her retirement

We have helped Caroline by:

• Developing a detailed cashflow analysis and financial plan, proving to her that she would be able to balance her various needs and objectives – she would be able to afford annual holidays with her children, and the ongoing costs of their current lifestyles, whilst balancing this with her longer term objectives

• Investing some of the cash received as part of her divorce settlement, giving her the potential for greater and tax efficient returns, whilst ensuring she had sufficient emergency funds in case something should happen in the short term
• Confirming that she could retrain for the career she’d hoped for, being there to support her children whilst studying but only returning to work full time when the children were older
• Consolidating her existing pensions, with new monies received from her ex-husband’s pensions, giving her greater clarity around her future pension income
• Demonstrating that she would be able to reduce her working hours in her late fifties with the objective of retiring completely at age 60

We have helped Caroline to achieve the following:

• When looking for employment, she now has a much clearer understanding of what income she needs – importantly, she also has the time to make these important decisions
• She can continue her desired lifestyle, safe in the knowledge that it will not impact on her future financial security
• She can be confident that her pensions and investments are invested in a portfolio that suits her attitude to risk, whilst being on target to achieve the growth she requires for her retirement
• Feeling more in control of her finances, she feels that she has achieved the independence she required following her divorce