Is your financial life ready for takeoff

Do you feel like you have been stuck on a plane on a runway waiting for it to finally takeoff? That place where you know you need to get somewhere, a place where it’s difficult to turn around and go back, a place of anticipation, trepidation, expectation? Many of us are feeling this way as we move into live our lives without Covid restrictions, we are ready to return once again to what we deem normal - we are ready for takeoff.

But what about that time on the runway? We asked what was it like for our client, an airline captain who has had that physical experience, but metaphorically what did that mean for him and indeed all of us? For Captain William, pre-Covid, life was good, he had a good job, a decent income and job security. But, for William and millions of people like him, his salary was slashed as the world, and the airline industry, ground to a halt. William faced a daunting time and with two young children this made matters worse. 

The news that his income was being cut came as a blow to him and his whole family, suddenly he felt like he was emotionally stuck on the runway. Imagine the flight deck at its peak, after hours of checks he waits for the words from air traffic control – ‘you are cleared for takeoff.’ But imagine when the call doesn’t come and there is little indication as to when he might be cleared to fire up the engines and hurtle down a runway at full speed.

William found himself in a situation where he couldn’t physically go anywhere and suddenly, he had a lot of time to think, life was delayed. Saving money wasn’t high on his agenda pre-Covid, he didn’t feel it necessary to be proactive in this area; he felt as though life would take care of itself as long as he had a steady job with the airline. 

But Covid threw up some turbulence and he decided it was time to buckle up and knuckle down. William said to his father he wanted to start saving seriously for the future because he never wanted to be in that situation again. True to his word, as soon as he was flying again, he got in touch with us and we helped him put together a workable plan with timely objectives. Finally, he felt like he was squeezing the thrust levers forwards, the dormant engines were awoken. 

At the beginning of his savings journey we told William how easy it is to get going, we explained how a lot of people can start with just £50 per month. He was surprised at how easy it was to make a start. He ended up with a bespoke plan and now he is starting to build up a pot of money. You can imagine the relief he feels not having to borrow in the future.

William knows that the way forward isn’t going to be smooth all the way, but he knows now he will have a nest egg for the future. He told us it was like the magical moment when the wings bite the air and the aircraft eases into the sky. 

Clearly William has a passion for flying and we celebrate with him our journey back to normal flight as we live our lives post pandemic. Our passion is to help people like William to realise a more financially secure future.

The first couple of years is the hardest as you build up your initial pot of money, however, it is always accessible; you can access some or all of your money at any point. From then onwards you will always have this nest egg to make sure your future is more secure.

William was reassured when we told him not to worry about being tied into anything. Flexible contributions allow you to stop and restart at any time. You can build your savings from as little as £50 per month. William found this very’do-able’ and he liked the flexibility to be able to increase or decrease the amount of money which he could contribute to at any time. He decided he would add a couple of lump sum payments when he could. Even though William had no intention of withdrawing money he had accumulated he was reassured by knowing he had no tie in period. He said it gave him confidence to know he always had access to some or all of his money if he really needed it. 

We sat down with William to explain the concept of risk, this helps us to set a strategy. Some people have a greater appetite for risk and reward, in the case of William, because of his age and his job he had a slighter greater appetite for risk than perhaps someone who is retired. We tailor your savings plan to suit your risk appetite. If you are saving for something big that you anticipate will happen in the next few years then perhaps your money is best placed in low risk investments. You can potentially opt for a more aggressive strategy in the longer term – these are things we can discuss with you; we will be able to find out your situation and your appetite for risk and help you make your money work well for you.

Are you ready for post pandemic takeoff? Aircraft don’t just get airborne by luck. Pilots know how much runway is needed and how much engine power and speed they need for lift off. We know what you need for a successful savings plan, it’s not a matter of luck. Call us today for a free consultation and one of our experienced advisers will be happy to chat. We are in the business of making sure your savings plan is cleared for takeoff. 

Call us today on 754449 and visit our website www.hbfs.co.je to find out more.