If managing money feels daunting you are not alone. It’s one of the main reasons people come to see us for financial planning advice. Often clients arrive feeling overwhelmed about how to deal with their finances. This was the case for Claire. Aged 55 and recently divorced Claire had no experience in handling money. She was fraught with fear for her future and didn’t know what to do.
Fast forward 15 years, Claire is empowered and financially secure. Helping our clients achieve peace of mind is what gets us out of bed each day, so this story is particularly gratifying.
At her first appointment with us Claire was paralysed by a fear of the unknown. Her marriage settlement had left her with a home and sum of money but her lack of experience in managing money meant that she didn’t know what to do, or how to do it. As financial planners, our job was to help her understand how much money she needed to meet her living requirements and to create a strategy for income generation.
Firstly, we established a budget to cover her living expenses. This also included putting some money aside for her son’s education. Once we had established how much money Claire needed to live on we helped her set up a tax effective investment portfolio that would generate the income she needed.
Knowing that she had enough money to live on and to support her son gave Claire the space she needed to focus on recovering from her marriage breakdown. It was pivotal in allowing her to get on with the next chapter. As we always say, life is too short to be worrying about money. It has given us great satisfaction to see Claire go on to enjoy doing the things that make her happy. She has been able to go on many overseas trips where she has met like-minded friends and found her zest for life again.
The investment strategy we implemented for Claire has ensured her portfolio is well maintained 15 years later. Now aged 70 Claire is needing some help to manage the costs associated with healthcare and we have been able to guide her through the process of getting government assistance and healthcare cards.
Having a long-term relationship with your financial planner is one of the best ways to ensure you meet your financial goals. We have clients that we have guided through every stage of the financial journey from wealth accumulation to pre-retirement and retirement. We take your best interests to heart because, at Dobbrick Financial Services, we are all family.
Mastering your money is about creating freedom to enjoy your life. If you are looking for financial clarity and some strategies to move forward get in touch.
General Advice Warning: The information provided in this article is general in nature and does not consider your particular investment objectives, financial situation, or insurance needs; we therefore recommend you seek advice tailored to your individual circumstances before making any specific decisions.
Dobbrick Financial Services (Gympie) Pty Ltd ABN 48 931 205 109 and Dobbrick Financial Services (Ipswich) ABN 86 100 184 521 & DFS Oakland ABN 64 340 527 395 and their advisers are authorised representatives of Fortnum Private Wealth Ltd ABN 54 139 889 535 AFSL 357306.
