Inheriting money – James and Rachel

James and Rachel approached us when they were about to receive a large inheritance from James’ aunt.

  • In their early forties, neither of them felt that they had enough time either for each other or their young son, William, aged five. Rachel had returned to work part-time after having William, but with him starting school she wanted to be there for him more, and struggled managing a high profile job on part-time hours. James, meanwhile, was working long hours for a company for whom he’d worked for a number of years, and was feeling undervalued and having to commute some distance for a job he didn’t really enjoy.
  • There were keen to move from their current home and buy a larger property in which they could live at least until retirement.
  • They were struggling to work out how their own short term concerns could be balanced with longer term worries, like funding William’s education, retirement and so on.
  • At the prospect of receiving such a large sum of money, they wanted to make sure that it was put to best use, but they also wanted to have a little to play with!

Over the course of our relationship with James and Rachel, we have:

  • Advised them to repay their mortgage in full
  • Invested monies to provide them with the necessary funds for their son’s future education
  • Developed a cohesive investment strategy in line with their risk attitude and suited to the level of risk they need to be taking to achieve their objectives
  • Developed a clear plan to help them retire early
  • Ensured their plans are underpinned by protection plans to provide financial security if the worst should happen

By doing so, we have enabled them to reach a position where:

  • Rachel is confident in her decision to give up work, meaning she can spend more time with William as he starts school
  • James has moved employers, working for a company much closer to home which means that family life isn’t confined to the weekends
  • They have moved to a new home they love
  • Both James and Rachel have spoilt themselves a little, buying new cars
  • They have a clear vision of what needs to happen in the future to remain on track and achieve their plans and aspirations