Most of us take financial decisions based upon not only current circumstances but also on what is predicted for the future. For example, if you are buying a new home with a mortgage and are being offered a discounted interest rate for the first three years, you would certainly consider the likely costs to you once this discounted rate expired.
This, in turn, would involve making a forecast of what interest rates would be in three years’ time and working out the costs, and your ability to meet those costs, accordingly.
This is a sensible approach to financial planning, but it is also limited. It focuses on a single, though major, aspect of paying for your new home. However, there are many other potential actions or events in the future – scenarios – that might have an equal or even greater future impact on the decision taken now.
Evans Hart’s professionally trained Life Planners can help you to identify, discuss and monitor the various possible scenarios surrounding the major decisions in your life with a view to ensuring that decisions made are as fully informed as possible and are then regularly reviewed going forward.
Decisions that may well make perfect sense from a pure financial standpoint, may well be flawed elsewhere once you take into account your overall life goals and desires. Our process is designed to help you to avoid such issues.