When life changes, so should your financial goals

Marcus and Fleur, both in their 40s, led active, healthy lives with two teenage kids. Their financial plan was straightforward: work hard until their mid-50s, then retire at 60 and travel the world. They worked with a financial adviser, balancing their careers and family time.

That all changed one weekend. While heading to their kids’ sports event, Marcus suddenly felt unwell—dizzy, pale, and struggling to catch his breath. A coach with first-aid training noticed something was wrong and called an ambulance. Marcus was rushed to the hospital, where he was diagnosed with a pulmonary embolism (a blood clot blocking his lungs). Despite being young and fit, Marcus faced a life-threatening condition. He spent a week in the hospital and was prescribed lifelong blood thinners.

During his recovery, Marcus had time to reflect. He realised that while their financial plan was solid, it was built around the assumption that they’d always have time. His health scare forced him to reconsider what was most important—spending time with family and enjoying life now, not just waiting for retirement.

Reassessing Financial Priorities

Once Marcus was back home, he and Fleur contacted their financial adviser to adjust their plan. Their key priority was clear: they didn’t want to sacrifice the future, but they also didn’t want to miss out on life now. The adviser helped them reassess their goals and made some strategic adjustments to accommodate these new priorities.

Key strategies included:

• Reviewing their investment portfolio: Their adviser shifted the focus from purely long-term growth investments to a more balanced approach, allowing for both future security and flexibility in the short term.
• Revising their savings and spending: By refining their savings strategy and reallocating some of their spending towards experiences they valued, like family travel, they could enjoy more now without jeopardising retirement.
• Building in flexibility: The new plan accounted for their desire to cut back on work by age 55 while still being on track to retire at 60.

With these adjustments, Marcus and Fleur planned a family trip to Europe for the end of the year—something they had always dreamed of but thought they had more time for. Their adviser also helped map out another longer trip after their eldest finished high school, all while maintaining their retirement timeline.

Financial Planning for Life’s Unexpected Turns

This experience reinforced for Marcus and Fleur that life can change in an instant. Marcus now encourages others to review their financial plans regularly, especially after major life events. His key takeaway? You don’t have to choose between living for today and planning for tomorrow—you just need the right advice and a tailored plan.

Financial advisers can help navigate life’s uncertainties, offering solutions that allow you to enjoy life now while ensuring a secure future.