Ian was introduced to us by his accountant 18 months ago. He’d built up a profitable business in the construction industry. The first thing he said when we met was “I want to find my way out of this”. He’d enjoyed what he did and worked extremely hard but at the age of 53 felt that it had taken its toll.
After getting to know him, it transpired that Ian had taken some fairly big risks in growing his company, but not with the profits he had made from it. He’d bought a couple of run down three-bedroom houses which he’d done up himself and rented them out as he felt that he knew the property game well. Most of his other assets were sitting in cash deposits within the company and in his personal name. He was aware that inflation was eating into his cash with interest rates having been so low for several years and this was starting to grate a little.
Armed with a much better insight of how his financial future looks and the things he can afford to do with his life, Ian is still running his company! He realised that there were aspects of it that he really enjoyed and at 53 felt too young to retire. He has brought in someone who in his words can help with the “heavy lifting” and is in the early stages of creating a succession plan for the company to be sold to him when Ian decides to retire. Ian is now working 25-35-hour weeks rather than the 60 hours he was previously working and is taking more time off during non-peak times for the business.
Ian was relatively wealthy when he came to us. What he couldn’t do was find his way through the maze of this wealth and work out how things looked in the long term, partly because he was too busy to. We have helped him to link his wealth to his life and family goals.