under pressure: Peter & Lilly

When Peter & Lilly* came to us in 2009, Peter was feeling the pressure.  His exciting, but demanding job in financial services was taking its toll and he was wondering how much longer he could keep going. 

With these high levels of stress, Peter & Lilly were also concerned about what would happen in the event that Peter was ill and not able to work.

life goals

With our help, Peter & Lilly agreed their life goals, in order of priority, were:

  • To be financially independent when Peter was 50 so Peter could ‘live to his own timetable’.
  • To fund the costs of private education & university for their three children, Tom, Rosie & Charlie.
  • To ensure time was made to keep Peter fit and healthy – riding his bike to the station at least three times per week.
  • Lilly to create a wonderful vegetable plot and start keeping hens and sheep.
  • To buy a holiday home in  Suffolk and so have a ‘two base’ life – city and country.
  • For Lilly to train in a new profession so she could start work again now the children were becoming more independent.
  • To provide financial support to Lilly’s sister, if required.

what are we spending?

An important input into their cash flow forecast was Peter & Lilly’s income and expenditure.  Although prudent spenders, Peter & Lilly had not really reviewed their expenditure before and so we set Lilly up with a cash flow spread sheet and helped her compile their first expenditure summary.

good news

With this and other details about their current situation we could financially model their future, using agreed assumptions.  The news was good; they had invested consistently over the years and were not excessive spenders and so Peter could stop work within a year or two, if he so wished.

investments simplified

Peter & Lilly transferred their investments onto an investment platform and so they could see all their investments on-line in one place.

Peter also extracted a considerable proportion of their wealth from an ‘old style’ pension (with opaque and high charges) and moved it into a pension with full flexibility.

Using his industry knowledge, Peter has invested in a couple of VCTs which sit alongside his future perfect portfolios on the investment platform.

 the outcome

Four years later and Peter is still working (too hard, says Lilly!) and they have bought their house in Suffolk and are enjoying their ‘two base’ life.

  • Peter’s career has progressed very well over the last few years and he is now working because he wants to, not because he has to.  Our financial life planning process has provided great comfort that his family is well provided for and he knows the age at which he can stop work, should he wish to do so.
  • They’ve bought their house in Suffolk, confident that it is affordable and not compromising their other life goals.
  • We have simplified Peter & Lilly’s investments and they are ‘low maintenance’ for them.  It’s all available to view on line too, so it’s easy for them to get a top line feel of how their investments are doing.
  • Lilly has created her veg plot, the hens and sheep are thriving and she is currently training to be a primary school teacher.

a financial life plan for you

Would you like to feel the way Peter & Lilly do – confident that you are making informed financial & life decisions that will benefit you, now and in the future?

We would be delighted to help.  Just email Nick on nick@futureperfectfp.co.uk.

 *these are real stories – names and some details have been changed to preserve our clients’ anonymity.