Tim Walsham of Claritas Wealth Management talks about financial planning and turning 50.
In the next few months I’ll be hitting the milestone of my 50th birthday. It’s interesting because this is roughly the age that many new clients approach Claritas for financial planning advice and I’m now thinking and feeling some of the things they talk about. It’s not that I’m remotely bothered about reaching the age of 50, but I am increasingly feeling that time is passing quickly and that I need to make the most of the one life that I have. It’s not a rehearsal. I’ve obviously done the calculations and know the answer to ‘How much is enough?’ but there’s more to this than the maths. I’ve no desire to retire any time soon but I want my business to continue beyond me so that my clients (lots of them from The Heatons) are looked after in the decades to come. This will take some planning and it’s definitely not too soon to be thinking about this.
“It’s then a case of matching the money that you have to the life you want to live”
It’s unlikely that I’ll be on my deathbed wishing that I’d spent more time at the office, although for me it’s not a simple case of ‘work bad’, ‘leisure good’. I’m lucky that I really enjoy my job so it’s more a case of striking the right balance. We’ve all known people that haven’t made it to old age so I’m determined not to starve on the way to the feast and will look to spread out the fun.
How we can help?
When we meet you for the first time we’ll really try to get to the bottom of what’s important to you and what are the things that you’ll regret not having done (probably not more time at the office!). It’s then a case of matching the money that you have to the life you want to live. Most new clients come to us with a collection of pensions and investments built up over the years but with no clear plan as to how they’ll be used to fund their lifestyle. We can help make sense of it all. So if there are any 50 somethings out there who would like to chat through anything I’ve talked about here, please do get in touch. I think I have a reasonable idea of how you’re feeling!