Spend time with family

I was working long hours and spending a lot of time away from home: I had climbed the corporate ladder for 20 years and now the CEO of a successful company.

With two children in private schooling, a family home and second property in the country, we enjoyed quite a comfortable lifestyle. However I wanted to spend more time with my family and have more control over our financial future.

The business I worked for was likely to be sold within the next few years. I had a reasonable equity stake and needed to determine if I could move to consultancy based work, and whether I would have enough money to support the family and still do the things we enjoyed. We wanted clarity on how much was enough to sustain our lifestyle and how long this would last.

We arranged a meeting with Mike from Carrington. He took time to understand our current situation and what was really important to us, as well as our concerns.

Using cash flow analysis Mike worked out how much we would need to live on. He also determined the number I would need to achieve when the business was sold, so I would not to need to work again.

The result provided absolute clarity on the potential outcome. One that would allow our family to be comfortable for the rest of our lives – the number was surprisingly low compared to the value of the company.

Through the analysis we also discovered that in the event of my death, my wife Emma would have to sell our second home to support our children’s lifestyle and education. The new plan has eliminated this financial weakness.

By implementing the agreed plan, we have also benefited from a tax efficient investment strategy. This includes making sure the school fees are paid from tax efficient sources, helping to reduce the overall cost.

Mike at Carrington has helped us to take control of our financial future, putting a proper plan in place. I now know exactly where we stand and that I can move to a consultancy role, without the pressure of needing to secure another big job.