Page 64 • The HERALD • 26th October 2023 v THE HERALD - Proud to be part of your community v ASK A PROFESSIONAL In my 27 years of advising I have had so many conversations with clients where they have shared their worries and concerns about certain aspects of their nancial future. Maybe they were approaching an age where they felt, they shouldn’t still have a sizeable mortgage even though they have earned well during their career. I have had clients who have not been able to get beyond the fact that they still had to nd a way to pay their mortgage o , even though they had very respectable well-paid employment. ey couldn’t see the wood for the trees, all they could see was this red mist of debt clouding their immediate horizon. I had a conversation with a family a few years back who had plans for a lovely travel packed retirement yet there was an issue. ey wanted to retain their family home, keep their daughters’ bedrooms as they were so when they ever came home as adults with their own kids they could stay in these rooms. e Mum in particular DID not want to sell to keep this sentimental dream alive. e downside of this heartfelt dream was that keeping the family home and not downsizing their 5-bedroom house at retirement was that they would not have enough cash to support the lifestyle they wanted in retirement. In both of these cases with the help of our Aspire Lifestyle Financial Planning process I was able to show the rst clients how with a careful plan and a longer time horizon everything would be absolutely ne by not just focussing on the short-term red cloud of debt. In the second scenario I was able to show the couple and the mum in particular that understanding the role the family home and downsizing had in their nancial enjoyment in retirement was very important. ey were then able to get used to the idea 10 years before the downsize was actually needed and this time was su cient to so en the blow of not being able to keep her daughters’ rooms the same for them when they came to visit with their own children. Having a robust, yet uid and interactive nancial plan allows clients of all ages and circumstances to see clearly now! To learn more get in touch with Michael at Oyster today on: 023 8084 8410 or email: enquiries@ oyster nancialplanning.co.uk “I Can See Clearly Now… I have a Financial Plan” by Michael Osman, Oyster Financial Planning Michael Osman, Oyster Financial Planning
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