This may at first seem like a strange analogy, but we see your future a bit like a bathtub with some water in it.
Think of your current savings and investments as water in your bath and the taps at the end as your income or salary. At first this paints quite a rosy picture as constantly topping up the water at one end will ensure that the bath fills up and your savings accumulate. Unfortunately there is a plughole at the other end which constantly lets water out (your monthly expenditure).
Now most people can ensure that the bath never runs dry on a month by month basis whilst they are earning money, but it takes a lot more skill to top it up to just the right level before the taps are turned off (when you retire).
Your first and most obvious challenge is to ensure that the water never runs out! The implication being that you can’t afford to do anything.
The opposite problem is less obvious, but happens…..accumulating too much water and letting the bath overflow. This is just wasteful and in monetary terms means that having paid copious amounts of income tax, capital gains tax, vat, fuel duty, corporation tax and stamp duty you might just be setting up your estate to pay inheritance tax.
What’s even worse than paying Inheritance tax in our view is that you should have spent more money whilst you were alive doing the things you really wanted to do, but were too afraid to do for fear of running out of water (money).
So we help you regulate the water level in your bath by showing you ways to increase the flow at the taps and/or slow down the leakage through the plughole. This is achieved by having regular meetings to help you identify whether the level has increased or decreased unexpectedly, and to make sure that you have taken the very first step…..designing the best style of bath for you in the first place.
If you haven’t done so recently you might want to consider getting some help. Remember though that the bath can be any colour you like, we just help you to fill it!