Have you ever thought about whether you could achieve a better work life balance, or how you could even determine whether it is feasible?
There are certain things you need to achieve in your life. Determining if you have enough for needs like housing, day to day living expenses and leisure is not that difficult, but how do you know if you have made adequate provision for longer term needs like children’s third level education and funding for your retirement?
If you want to optimise your work life balance you will need to determine the adequacy of your long term finances.
The most effective way to ensure that you achieve all of your financial and life objectives is to model your finances using Cashflow Modelling. You can find out more about this here.
If the figures indicate that you have more than you need to achieve your objectives, this may open up new possibilities for you.
Our recent article in the Sunday Times illustrates the benefits of Holistic Financial Planning.
About Financial Planning
Financial Planning is concerned with determining the cost of your objectives and structuring your finances so that you accumulate enough to achieve each of them. The process involves quantifying the cost of your various life objectives (housing, children’s education, retirement etc) and, based on your assessed attitude to risk (which will determine the likely return), calculating the required investment to achieve each of your objectives. If the figures show that you have sufficient resources to achieve your objectives, not only will this help you to reduce risk, it will afford you the freedom to make choices which you wouldn’t otherwise be aware that you had. If the figures indicate that you currently don’t have the income or resources you need to satisfy your financial objectives we have strategies for dealing with this to ensure that your financial plan is optimal.
We have three types of client;
Not enough
They have time but they don’t have enough money. Think of a young couple, possibly in their thirties or forties, with a large mortgage. Like most people they are managing but they haven’t made sufficient retirement provision or funded for their other financial objectives so if nothing changes they are going to have to work for as long as they are able to.
Too much
They have money but they don’t have time. Think of a very well-off retired couple in their seventies. They have enough money to maintain their lifestyle for several decades but they have average life expectancy of only 10 – 12 years. They could have done more with their lives. They could have worked less.
Just right
They’re fine but here’s the thing, the vast majority of the ‘just rights’ don’t know they have enough. The ‘just rights’ need to be told;
- “You are ok”
- “You can do things”
- “You can switch to a three day week or retire at age 55”
It is only by addressing all of your financial and life objectives that you can ever be in a position to assess whether you can optimise your work life balance and have real freedom. This is the absolute kernel of what we are about.
So how much do you need to accumulate to say that you are wealthy? We used to talk about being a millionaire. Wealth is not a round figure amount or a number dictated by someone else. When you set your financial objectives you define what wealth is and if you achieve it you are wealthy.
It’s wealth with a purpose.
- If you don’t quantify what you want to achieve, then you don’t have a target.
- If you don’t have a target you’ll never know when you have enough.
- If you don’t have a finish line that means you’re never finished.
- And if you can never finish this means you’ll never be free.
Most people have capacity to achieve a better work life balance but unfortunately by the time they realise this it is often too late. We can help you to achieve this when you are still young enough to enjoy the benefits of a more balanced lifestyle.
CONTACT US FOR A FREE NO-OBLIGATION CHAT
By Telephone 01 546 1100
Use the Form on this Page
Email to [email protected]
Book a Zoom call with us here.
Happy to start the process? Click here to complete a factfind and tell us your objectives
The material and information contained on this website is for general information purposes only. Neither the writer nor Highfield Financial Planning Ltd makes any warranty as to the completeness, accuracy or reliability of the information or the suitability or availability of products or services, referred to on the website, for any purpose. You should not rely on any information contained on this website as a basis for making any financial, legal, taxation or other decision. The information presented does not include all the considerations which are relevant to the topic discussed as to do so would render it un-readable. When considering any financial issue you should seek the advice of a suitably qualified adviser.
BOOK A FREE NO-OBLIGATION CHAT
By Telephone 01 546 1100
Use the Form on this Page
Email to [email protected]
Book a Zoom call with us here.
Happy to start the process? Click here to complete a factfind and tell us your objectives
The material and information contained on this website is for general information purposes only. Neither the writer nor Highfield Financial Planning Ltd makes any warranty as to the completeness, accuracy or reliability of the information or the suitability or availability of products or services, referred to on the website, for any purpose. You should not rely on any information contained on this website as a basis for making any financial, legal, taxation or other decision. The information presented does not include all the considerations which are relevant to the topic discussed as to do so would render it un-readable. When considering any financial issue you should seek the advice of a suitably qualified adviser.
Highfield Financial Planning in the Media
The Sunday Times
In the sport of target pistol shooting there is a saying, “slow is smooth, smooth is fast”, which refers to the way to approach drawing and firing a pistol quickly and accurately. The learner shooter who focuses on practising the correct technique slowly, only building in speed later, will win the day nine times out of ten.
The Sunday Independent
A pension is a term that can seem distant to many, especially if you’re at the beginning of your career. But it is a vital part of long-term financial planning, designed to provide you with a source of income in your retirement years. As the pension landscape continues to evolve, understanding the fundamentals and staying informed about the changes is crucial. So, what do you need to know?
The Sunday Times
I have been sitting on about €140,000 in my current account for the past year. It’s what was left over when I sold a property. I keep reading about inflation and how banks are paying no interest and might start paying negative interest, and so on.
The Sunday Times
Would-be investors have a difficult decision to make when considering their options. If they are going to increase their wealth, they will need, at a minimum, to beat inflation and whatever they are paying in charges.
Business Post
If you’re at the beginning of your working life or are simply new to pensions, we look at what you need to know
The Sunday Times
The phrase “Morton’s fork” can be traced back to the time of King Henry VII in the 15th century, when John Morton, then the Archbishop of Canterbury and lord chancellor, rationalised that a tax levied by the king was just.
Sunday Independent
Q I HAVE €150,000 which I want to invest for between 10 and 15 years — with a view to using it to fund my retirement in the future. I’m 50 years old. I am interested in property investment and had considered using the lump sum to buy a property outright.
The Sunday Times
If I asked 10 people on the street how long they thought pensions had existed, what do you think they would say? Since the 1960s, the formation of the state, or Victorian times?
Business Post
No matter how far away you are from retirement, it is always a good time to start a pension or to build up your contributions. And the tax benefits are considerable, writes Siobhán Maguire
Sunday Business Post
The area of pension guidance can be a minefield, but it’s one which Highfield Financial Planning is happy to negotiate for its clients
Sunday Business Post
Eoghan Gavigan, a specialist investment adviser and certified financial planner at Highfield Financial Planning, has advice for those looking to start a pension, writes Siobhán Maguire
About Highfield Financial Planning
We provide superior advice on Financial Planning services to business owners, professionals and their families. The principal of the firm Eoghan Gavigan has over 29 years’ experience in banking and finance across Treasury, Lending and Wealth Management and is a Qualified Financial Adviser (QFA) and a Certified Financial Planner (CFP). The CFP qualification is the world’s most respected industry designation, held by only a select number of advisers. As Specialist Investment Advisers we can provide you with detailed investment advice on your pensions and investments.
We want you to be comfortable in your dealings with us. We provide a number of suggestions here for ways that you may be able to obtain comfort that we are the right Financial Planner for you.
Our Process
Why We Changed Our Business To Focus On Financial Planning
Having been involved in Financial Services for over 29 years our experience is that most people feel that they aren’t well served by the traditional financial advice model. Commission based sales creates a huge conflict of interest as in order for a financial adviser to be paid for his work he must sell you a financial product.
Many people who approach us for financial planning services tell us that they feel that what they have been getting is sales, and they want advice.
Our most successful clients use Financial Planning to manage their finances and accumulate wealth. Studies have shown that people who engage in Financial Planning are more on track with their financial affairs and have higher net worths.
Who Is Financial Planning Suitable For?
- You own your own home or are planning to purchase a home soon
- You have surplus income (although you may well feel that it is not being used optimally)
- You may have financial products (pensions, life assurance, investments etc) but they were sold to you by someone who had a target to achieve
- You are interested in developing a cohesive plan to achieve your financial objectives
Want to hear more?
Make contact today and we’ll tell you more about the kind of work we do.
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