A little bit of planning brings rich rewards
I’ve just returned from a fantastic week away skiing in Les Arcs. The conditions were some of the best I’ve ever experienced; clear blue skies and the most amazing powder snow. It gave us the opportunity to try our skis ‘off piste’. Skiing in powder up to your knees looks easy from afar, but it was quite a challenge to stay upright.
I travelled with a group of long standing friends, some of which are my clients and the camaraderie was great. The trip was a success, very well organised but this wasn’t down to luck it had been planned meticulously by a very organised friend.
It dawned on me that this analogy can be used when it comes to your finances. We were all in the fortunate position to go on the trip as we have the ‘means to’. This isn’t down to luck but to careful financial planning which allows us to pursue our passion. Equally, trips like this aren’t a success because luck is on our side. It’s really down to being organised.
Sadly, my best friend couldn’t join us this year as he decided to stay at home and look after a freind who is recovering from a stroke and unfortunately needs to move into a residential home. Nobody ‘plans’ for their life to take this course but what is in your control is to get your financial affairs in order. Unfortunately, my friend’s friend didn’t. We all secretly think “It’ll never happen to me.” This lady has no enduring power of attorney in place and sadly isn’t mentally well enough to make sound decisions regarding finances herself. Equally, not one of her friends or family members have been given the legal responsibility to do it for her. The situation is a mess and very stressful for those close to her.
The old adage is so true - don’t put off until tomorrow what you can do today. It might be too late.
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