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PANIC ATTACK?

Planning for the future is all about knowing your numbers and asking

for help from the experts, like financial advisors, if you think you need

to, says Moore.

“If you need help, this is the time that you really have to ask for it.”

Only splash money around on a new car, travel, or a house renovation

if you’re not going to leave yourself short at the other end, she says.

“Decide what’s really important to you. Because once you know

what’s important to you, it ceases to be about anybody else and their

expectations.”

WHAT ABOUT A LEGACY?

Do you want to leave a legacy, and pass something onto your

children?

If you do, you may have a different risk and time horizon, says Joe

Bishop. “You need to factor that into your planning. If your

timeframes are extended by decades, then that could mean you take

more risk with your investment.”

Moore suggests you talk to your adult children.

“You could say to the kids, “I’m going to leave you nothing”, and find

they look at you in abject horror. “What about our inheritance?””

Or they may be happy to see you spend all your money and enjoy the

life you have worked so hard to have.

Sourced from JUNO—Autumn 2019 edition.