The case of "How Much is Enough?"

Neil & Sue Builder worked hard, very hard. But then they enjoyed the lifestyle which they had created for themselves and their daughters Rebecca and Lucy.

Neil was 45 and he had a plan - his own financial plan. Because Neil hated three things:

  • His mortgage.
  • Pensions.
  • But most of all, financial advisers!

So Neil's plan was simple - to pay off his mortgage as quickly as possible. Then, mortgage free, he intended to accumulate as much as possible via his business between 45 and 55 - so he could retire early.

Simple!

Neil didn't think he had a problem. And he didn't need any 'advice'.

However, on the advice of his accountant he was recommended to speak with an AFA™ to 'crunch his Number'.

So he & Sue met with our AFA™.

First our AFA™ spent some time getting to know Neil and Sue, then he helped them tune in to the real lifestyle they wanted to enjoy throughout their life. He also wanted to understand why '55' was so important?

Neil wanted to escape at age 55 and pursue his passion of sailing whilst he was still young enough, and fit enough to participate in it. He wanted to cruise the Med. He wanted to cross an ocean. Any ocean. Neil wanted to see the world. He wanted to 'do stuff' – 'before it's too late!'

But why 55?

Neil shared with our AFA™ the fact that his father had worked his whole life, right through to age 65, only to drop down dead at age 67. That was Neil's motivator. He could not bear the thought of that happening to him. He knew - and understood - that 'Life is NOT a rehearsal' and Neil lived it accordingly. That's why Neil worked so hard now, so he could 'escape' early.

So, understanding his clients, our AFA™ said he would work with Neil and Sue to calculate their Number – the amount of money they needed by age 55 to ensure they could live the life they wanted - without fear of ever running out of money.

Our AFA™ built in the cost of continuing private education for Rebecca and Lucy. He built in the cost of two daughters weddings. He got Neil & Sue to really think about the lifestyle they wanted at various stages of their lives.

And then he crunched their Number.

Our AFA™ then broke the news. He explained, that on agreed assumptions, Neil & Sue's current plan - Neil's' plan - would see them running out of money by age 67! Not good.

So ourAFA™ then helped Neil & Sue to understand just HOW MUCH they needed to accumulate by age 55 in order to prevent EVER running out of money whilst living the life they wanted.

It was a BIG NUMBER.

Our AFA™ then worked with Neil & Sue to help find ways of accumulating the money, including how they could utilise their greatest asset (their business) to build their Number.

Neil & Sue are now well on course for their Number and their intended retirement at age 55. Neil now has a reason to work hard; a 'WHY'. Neil is motivated. Neil is inspired. Neil knows where he is going.

They continue to meet with our AFA™ on an annual basis to constantly review their financial planning, to ensure they stay on track. For Neil & Sue our AFA™ plays various roles; that of a planner, a mentor and a coach, mostly inspiring but sometimes nagging Neil & Sue to do the things they need to do to get to where they want to go.

And that's easy to do – when you know your Number.

It pays to speak to an AFA™

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