Background:
Raj and Priya (names changed), a young couple aged 36 and 34, with two kids aged 1 and 3, were exploring the possibility of taking a sabbatical and pursuing higher education for Priya, as well as planning for an early retirement for Raj. However, their limited investments made it challenging for them to achieve these dreams without a well-structured financial plan.
Our Approach:
Our team at Finanza Personel conducted a thorough assessment of the family’s financial situation, considering their limited current investments, home and personal loans, income, expenses, and future goals. We collaborated closely with Raj and Priya to understand their priorities, concerns, and aspirations, and designed a tailored financial plan to help them achieve their desired lifestyle and milestone goals.
The Plan:
We built a comprehensive plan that included creating an emergency corpus, enhancing their insurance cover and overhauling their investments to support their goals as the first step. This gave them the confidence and allow a 5-year career break for Priya to pursue higher education, while ensuring all their lifestyle and milestone goals would be achieved. Our plan also accounted for the early retirement of Raj, as well as the education and future needs of their children.
In addition, we presented different scenarios and strategies to help Raj and Priya understand how their milestone goals could be achieved within the anticipated timeframes, while considering various factors such as market fluctuations and changes in their personal circumstances.
Outcome:
By following the financial plan provided by Finanza Personel, Raj and Priya gained the confidence and clarity needed to pursue their dreams of a sabbatical, higher education, and early retirement. With the right investment strategy and financial planning, they can now work towards achieving their lifestyle and milestone goals, while ensuring a secure financial future for their family.