Mark and Lindsay Case Study – Part 1, The Problem

By Proposito Team

Mark (57) and Lindsay (55) came to see us in the spring of 2018. They had always done their own financial research but as they’d got older they had become overwhelmed and bewildered with the amount of information available. The result was analysis paralysis. They wanted to regain control and make some big decisions about their future. They had some pension plans but they didn’t have a retirement plan.

Their children had now ‘flown the nest’ and they wanted to start looking at their options for retirement. But there was a problem. They didn’t know what was important to them so they couldn’t describe what they wanted their retirement to look like. It was no wonder that they couldn’t make those big decisions.

We gave them the Money Wheel and this was Lindsay’s Money Wheel:

They had very little idea of what they wanted their retirement to look like (A clear plan for retirement = 3). Despite having all their finances filed in separate folders (financial organisation = 7) they didn’t feel like they knew much about money (Financial understanding = 5).

Lindsay had always kept a close eye on their spending and had run a monthly spreadsheet for their expenditure (spending knowledge = 8) and an outline budget (spending plan = 6) since their wedding.

They thought they might be financially secure but weren’t certain (financial resilience = 4). This made Lindsay increasingly anxious. Despite a healthy income they never seemed to have very much spare at the end of the month (relationship with money = 6). Their different attitudes towards money had created some tension (harmony with others around money = 4).

By seeing their money wheel on paper Lindsay and Mark were able to understand where they were ‘on the same’ page and where they needed help.

As you can see from Lindsay’s Money Wheel above, this wasn’t going to be a particularly smooth ride for her. She had identified her problem areas and wanted some help to improve these.

Want to know what we did?

Click HERE to read part 2 (out how we helped).

Say to find out how we can help you

Download your own money wheel HERE.