A little while ago I was fortunate enough to welcome the birth of my first child and son, Luca to the world. After doing almost nothing to the creation and arrival I’m keen not steal the credit and should rapidly thank my wife for doing such an amazing job – he couldn’t be more healthy and happy which is only our main aspirations for him after 5 weeks! The amount he squeals, wriggles and eats we suspect he could have been a small pig in a previous life but coming from someone who scoffs food down like it’s going out of fashion, he must take after me!
Having arrived, during the great storm of 2022 and in to a potential WWIII with constant musing of a cost of living crisis 2022 thanks to certain Brexit based outcomes and covid, it got me thinking of how best to set him up for a happy, financial anxiety free and stable future. I’ll try to dress this up more positively to him when the times comes!
No doubt, healthcare, (higher) education if he chooses house prices and many more “givens” will have increased dramatically by the time he reaches 18 due to inflation but at least it’s unlikely he will have a driving test and lessons to pay for due to the probable expansion of driverless cars! It got me thinking that financial literacy and understanding how to protect my inevitable inheritance to him as well as his own wealth creation is very close to a no1 priority.
Many people see Cathedral Wealth Management in Chichester as just “pensions” or “savings” but it’s much, much more such as various life insurances, tax free products (always popular with our clients!), numerous ways to make your existing money work for you to make more money and update to date, tailored advice for all situations from the cradle to the grave.
I have very few demands of him as his father that extend past the 2 bits of advice my late mother gave me: if your kind, happy, positive, and loyal – people will always surround themselves around you
and… probably most helpful “all girls like chocolate” but being able to understand, manage and intelligently govern your own financial welfare to enable to a better life has to be paramount and utilizing the experience and knowledge of a financial expert is a great place to start.
