The 7 step journey to financial freedom
This is the story and journey of a real life Opus client, Mr K.
The best part of our job as trusted financial planners is seeing and helping our clients meet their financial objectives. And in January 2020, one of our longstanding clients hit his primary objective:
To hit financial independence at age 60; for work to be an option
He in fact hit financial independence 3 years earlier than planned.
This is how he did it:
1. How it started
Mr K got in touch with Opus in 2009, seeking help with his mortgage and his finances in general. He had a few old pensions and some savings.
He worked as a senior manager in the manufacturing industry. His role involved a lot of travel, which he generally enjoyed but knew he couldn’t do forever.
2. The discovery meeting
During the initial discovery meeting, Ben took the time to understand Mr K’s background, philosophy, needs and objectives.
His overriding financial objective was established: to reach financial independence age 60.
Mr K agreed for Ben to build his financial masterplan that promised to answer the important questions:
1. What does his financial future hold
2. Will he have enough to retire age 60
3. If not, what can he do now to make sure he has enough
3. The Masterplan
Retiring at age 60 was possible for Mr K
He agreed to implement his masterplan. This included:
o a plan to control his expenses
o changing the structure of his existing pensions
o switching to a suitable investment strategy
o introducing regular monthly savings for his future self
o protecting against disaster through the appropriate insurances
4. Maintaining and updating the plan:
Mr K agreed to become an ongoing Opus client
During forward planning meetings, the masterplan was updated and evolved over time
Progression in his career resulted in promotions and pay rises. But rather than suffer from “lifestyle creep” and spending more, Mr K instead ramped up his savings
5. Staying the course
Mr K stayed disciplined, controlled his lifestyle and continued to save
Our job was to keep Mr K accountable and we worked with him to follow through on his commitments
Throughout turbulent investment markets, he most importantly stuck to the plan
6. The outcome
Through a combination of bumper investment returns and increased savings, it was clear that Mr K was due to hit financial independence earlier than planned
The work trips away had become tiresome and Mr K had finally had enough
He agreed his exit from work in January 2020, with his trusted partner in Opus in his corner providing the confidence and security he needed to pass the finish line
7. And now?
Mr K has plenty to do following his exit and intends on spending time doing what he enjoys:
o following his rugby team on tour
o spending time with his family
o reducing his handicap at the local golf club
The dream trip to New Zealand was postponed by Covid, but still remains on the agenda for 2022
He may return to work in some capacity, but doing something he enjoys and on his terms
We are proud to be the trusted partner to our clients, helping them through the difficult times and appreciating the good.
Life is not a rehearsal; a financial masterplan will make your goals a reality.
“After many years of guidance from Ben and the Opus team I’ve finally become financially secure. Opus have always looked after me extremely well through annual reviews and adhoc meetings and phone calls. They have always been professional, knowledgeable and friendly, dispelling any financial apprehensions I might have had. They explain all options in detail, providing a good understanding for me to make financial decisions, aligning to my overall goal. I’d like to take this opportunity to thank Ben and Jordan, who’ve become very good friends, for all they’ve done for me.” - Mr K ,May 2021
Could you be our next success story?
Please get in touch should you wish to discuss your how lifestyle financial planning could help you.