If we aren’t careful (!!) we can spend a lifetime protecting something we never use.
Two client conversations today really stood out for me.
The first was about a niece who had recently come into an inheritance. She’d used the money to buy a beautiful new home complete with turrets (!!), a grand spiral staircase, the works. What struck me wasn’t the house itself, but where the money had come from.
The person she inherited from had been a client of my father’s. She worried constantly about her investment, requesting frequent telephone valuations and posted statements. She lived very frugally, rarely spent anything, and never really allowed herself to enjoy the wealth she had built. The money had come from a life insurance policy which paid out when her husband was murdered during the troubles. In later life, dementia took hold, and she never experienced the comfort or freedom that money could have provided.
The second conversation was very different – clients had just returned from what they described as the holiday of a lifetime to Canada. He told me that his parents had planned that exact same trip 40 years ago. Just weeks before they were due to travel, his mother got a terminal diagnosis. The trip never happened.
This recent journey was taken in her honour.
Two stories. Two generations. One common thread.
Money is important – it provides security, options, and peace of mind. But it’s also a tool, not the end goal.
At some point, the purpose of careful planning should shift from preservation to permission – permission to enjoy, to experience, to live.
If we aren’t careful (!!) we can spend a lifetime protecting something we never use.
