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Juggling it all


Mr & Mrs Hope (all names have been changed): A full and extensive Financial Plan was undertaken several years ago but, given a change in personal circumstances, needed to be amended recently. The impact of these changes upon their longer term lifetime cash flow analysis led to an adjustment in their shorter and medium term goals and objectives. Our analysis allowed the clients to clearly identify which goals were more important to them as their Financial Plan indicated they could no longer provide for all of their desired objectives.

The clients, with our assistance, needed to choose between maintaining private education for their very bright child and moving to a more desirable and larger family home. Their finances would not allow both. They also travel extensively, in business class, and wished to continue to do so.

Following extensive discussion we were able to clearly identify that the most important of these objectives was their child’s education followed by the ability to travel in style and the purchase of a more desirable house was least important. A revised Financial Plan was therefore devised showing that, in the short term, they continue to live in their current property whilst maintaining over the longer term these other more important objectives.

Incorporating lifestyle planning with financial planning appropriately provides guidance to clients to clearly identify what matters most to them.