‘Insanity is hereditary, you catch it from your kids’!
If this resonates with you, well, we already have something in common.
I’m a Financial Planner who is a recent survivor of a Cold Feet-style, mid-life financial crisis that seems to come as part of the T&Cs of a life of juggling careers, children and borrowing.
I hope this guide will offer some useful tips, or at least encouragement, so that once your young family is not-so-young, you can excitedly look forward to your hair transplant, facelift or Harley Davidson (other mid-life crisis fantasies are also available!)
Though research tells us that earnings typically peak between the ages of 40-49, this also typically coincides with a period of our lives when outgoings are at their highest.
Mortgages and loans would often be our largest commitments and first priorities on incomes. You may at some stage, need a bigger home, a bedroom each for your children; especially important if they are moody teenagers (is there any other kind of teenager?), and the daily commute is so much harder if home isn’t close to their schools – as my three children’s occasional detentions for my late-arrivals to school will testify!
Potentially this is an age when your own parents would be requiring support, either financially or in terms of time, both of which may well be already stretched.
Holidays outside of term-times are three times (or more) of the price of their non-term time equivalents and that’s before you even get there!
There are, though, quick-wins I often highlight to my clients with families which will make a real difference to the financial comfort of your family….and potentially nip the hereditary insanity in the bud before it really takes hold!
Get all of Martin Howe’s fantastic quick-wins and thought-provoking advice in our free-to-download PDF. Click here for the full guide.