Page 66 • The HERALD • 20th June 2024 v THE HERALD - Proud to be part of your community v ASK A PROFESSIONAL You Need The Right Foundations To Build Security by Michael Osman, Oyster Financial Planning Everyone knows that to build a house, your home or any kind of structure it’s so important to lay the correct foundations to ensure that the building remains intact and strong regardless of extreme weather conditions or any other threat to its wellbeing. It’s the same for you and your life, to ensure you and your family are protected now, tomorrow and throughout the rest of life’s journey. So as with laying the appropriate foundations when building a property, the same applies to looking a er your family. Yes, you need to earn money to pay for your lifestyle, the mundane house stu and the nicer things in life. Whether you rent a property for your family to live in or you buy a house it’s important your income is protected against illness or disability. Likewise, if you are buying your family home as well as protecting income, paramount will actually be clearing your mortgage should severe illness, disability or even loss of life occur. If everyone could guarantee at the age they are now that they would never get ill, injured or indeed die before the mortgage was paid o or the kids were no longer nancially dependent on you then life would be easier. No need for expensive but important insurances to provide peace of mind. Sadly, life doesn’t work that way, nothing is guaranteed in life. at’s why every family should look to balance their life and how they prioritise what they spend their hard-earned money on. In an ideal world you would earn enough, to pay for the house, renting or buying, pay the bills, have a bit of fun, look a er the kids and give them some life experiences. As well as balancing these essentials you need to ensure if illness, disability or worse strikes that all of these things can still continue. So, when looking at the pounds and pence coming into the family home each month, you need to do the above but also where a ordable allocate a balanced sum to protecting the family home, your income and against illness, disability or loss of life. In these expensive times this isn’t easy but prioritising a balance that looks a er the short term and protects the family beyond that is really important. Laying the foundations for your family’s future happiness and prosperity is so important. Having an understanding of how you can ensure nancial stability whether you live healthily through to retirement or if hard times strike due to illness or loss of life is easily done if you seek professional guidance. If you want to learn if your foundations are secure please do get in touch with michael@ oyster nanciaplanning.co.uk or call 023 8084 8410 or pop into our o ce in Hythe village centre. Michael Osman, Oyster Financial Planning
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