One of the more rewarding things we can do is to help someone who has little or no experience with money to become a little more comfortable, and confident in their position. This was the case recently where our client’s husband had died suddenly leaving her with young children and very little knowledge of how to manage her household finances. Whilst there had been a life insurance payout which meant she was going to be OK financially, she had been unable to face the decisions she needed to make as to what to do next. One of her friends who had been a client of ours for many years, asked if we could help.
Our first step was to recommend a simple software tool which would enable her to track her day to day living costs and keep an eye on how much she was spending. We are also able to review this with her regularly to give a second opinion. We then recommended an investment which would provide her with the supplement to her income she needed in order to live the life she wanted. She had dreams of returning to study, so we set aside part of her nestegg to allow her access to liquid funds while she completed the course, and also gave her a buffer should something unforeseen occur.
None of this was rocket science, but our client was extremely grateful to have someone to call on should she need support, and to be reassured that the least of her worries were financial ones. We have been delighted to be able to provide at least this level of comfort.