What sounds like a quite rude response to a particular situation becomes less so when it is used by a client to describe a Financial Planning situation.
A client meeting last week involving a husband and wife who are trying to plan their future as they transition into retirement.
He is going through something of a stressful time as he applies for a job within his current employer that may or may not replace the current role that he has.
She, on the other hand, loves her work and isn’t overly keen to stop work just yet.
Situations can change though, and it wasn’t that long ago that they found themselves in the opposite position.
As well as considering their long-term financial future, including the consequences of having to pay significant care fees in the future, they wanted to look at the impact of both of them retiring immediately.
The title they gave to the scenario of both of them stopping work now was “stuff it!”
In this Financial Planning scenario, they would immediately resign from their jobs and start to take their pension benefits.
They would undoubtedly spend more time with their grandchildren and a lot more time travelling.
Both are in the “caring professions” and feel a sense of duty and responsibility to the people they help.
But the “stuff it!” situation demonstrated that they could stop work now and have sufficient financial resources to live the life that they want.
What title would you give to that part of your Financial plan that might result in a dramatic change in your life?
