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[L442]Living The Life Songs

by Ray Prince, Ray

For a new client - how can we as planners really encourage them to think about what they want to do with their lives?

For existing clients - we know their goals and so where are they on this journey? Are there any new factors to consider?

We can think of many examples here, but let's take three that seem to come up time and time again:

- buying a holiday home

- going part time age 50-55

- taking time out, a sabbatical

Holiday Home

Now straight away let's get to the nub. A client who says this to us is not really saying I would like some bricks and mortar in Spain/France etc.

They are usually saying:

- We love the life and culture in this country and want to have a secure base to explore

- We want to have somewhere we feel really at home on day one of our precious holiday

- We have had some fantastic holidays in the last 10 years here. The children are getting older and we hope they bring their children as family life to us is what it's all about

- As we create more time for fun in our 50s, we want somewhere we can pop over to within a couple of hours and have long weekends.

Of course, it's not to say that the investment angle is not important. It may well be a welcome secondary benefit, but drinking that nice glass of dry wine on your first night at your very own home abroad is quite special!

The big question that these clients quite often have though is that, given the financial demands on us, can they afford it? #

Going Part Time

Many of our clients have interests and hobbies - sailing - walking - sports - reading/writing - travelling etc. The thing is, these activities take time out of your working week.

To be able to go for a days sailing or travel to London to see the sights and go to the theatre, you'll probably need a few days out of your diary.

Whether you are a dentist of doctor in general practice or in a hospital, we find that going part time is a superb way to live in your 50s (so our clients tell us!).

The big worry for a lot of medics and dentists is of course, can they afford to do this? What about your pension? Will you run out of money before you die? #

Time Out - A Sabbatical

Another option for a stressed NHS doctor or dentist is simply to say that some time out is needed. A three or six month break can recharge the batteries, and allow you to return to the fray refreshed.

This can be the most difficult thing to arrange. After all, you will have family issues, commitments to honour, colleagues to take into account, and perhaps local politics to navigate.

Then of course, what about the costs? The locum to arrange? What about your pension?

All the above could result in someone giving up before they have started! #

A common denominator with all the above is that many clients do not feel they will be able to realistically achieve these goals. There is a real fear of 'biting off more than they can chew' financially. But in an ideal world, they really want to do these things.

So how do we help clients reconcile all these factors and get what they want?

# Well, we build their own FINANCIAL SAT NAV.

If you live in London and want to get to the Isle of Skye, you need a tool that knows where you are starting from, knows where you want to go, and works out the best route to get you there regardless of traffic jams.

This exactly applies to Financial Planning. Goals and objectives mean little unless you measure where you are in relation to what you want to achieve, and then devise a strategy to get there. You then review this to make sure that you don't end up in Edinburgh!

By asking what goals people have, measuring them with the FINANCIAL SAT NAV and working out a risk assessed strategy, we have in the last few months:

- Arranged the money for a Consultant to buy his Spanish Villa

- Helped a dentist to rearrange his finances to enable him and his wife to have the facility to buy their dream holiday home in Scotland

- Reassured a dentist that he will be able to go part time at 55 to pursue sailing

- Measured that a Surgeon can go to a three day week age 55 when his wife is 47 to spend more time together

- Worked out that a Consultant can cut down NHS work and keep working privately to enjoy his hobby - and NOT to buy additional NHS Pension as did not need it

- Reassured a GMP that she could take a 3 month sabbatical to take time out with her husband

In addition, they won't run out of money before they die!

There is simply nothing more satisfying than achieving these things for our clients, and putting them firmly in charge of their own destiny.

Key Considerations:

So, how long is it since you took time out to realy think about what you want?

Have you EVER done it?

To get you thinking about this, if you did not have to work from today, how would you fill your time?

It really is worth sitting down and thinking hard about what you need to do to lead the life you want.

Why Choose Javea as your relocation destination? Many people relocate to Spain for the climate, but there are many other reasons to move to Javea on the Costa Blanca. This is especially the case if you want Spanish culture, but also the confidence that there are other UK Expats living there that are always willing to help and offer advice to fellow compatriots.

Javea is a complete mix of European and Spanish cultures. If you are looking for an expat community, where you can fit in and feel right at home, Javea can work for you. The Arenal area is where most of the British community frequent. But, if you're looking for a life of integration with the Spanish community, the old town and the port can offer you this. Or a few miles inland towns and villages such as Benitachell, Jesus Pobre, Teulade, Gata, Pedreguer, can offer the Spanish life with only a short drive to all the comforts of home products.

Javea has many activities, clubs and societies that cater for all tastes. Obviously the summer season has more in the way of outdoor activities. For the sporting type, there is a football team, a rugby team, a netball team and various tennis tournaments. For the water sport lovers you can snorkel, scuba, windsurf, jet-ski or take out a boat for a fishing trip. For the less active there are bridge clubs, computer clubs, sewing and craft clubs and most of the bars have pool and darts teams if you prefer a pint with your chosen sport! In the summer there are volleyball and football tournaments on the beach and a weekly outdoor cinema.

The Arenal beach area, has many bars and restaurants catering for all budgets, a great time to eat is midday, where the majority of restaurants offer a menu of the day, usually this is 3 courses and includes drinks, around 10 euros a head, depending on the restaurant. In a small back street bar you will often find a very cheap menu and usually pretty good quality. It often works out cheaper to eat out than to cook at home, leaving the washing up for someone else.

Your first few months of living in Javea or any other foreign country can be a bit daunting. If you do not speak Spanish then I would recommend that you make some English speaking friends. There are several bars and restaurants that are frequented by the English speaking community. In such places you will always find someone ready to give you advice on how to arrange services and general living requirements that you took for granted in the UK. Although, Spain has all the same services and amenities that you would expect in the UK, sometimes the bureaucracy can be a little challenging.

As well as the help and advice from the English speaking community there are many Gestors/Abogados/Notarias, who act as lawyers, accountants and general advisers, who will help you to apply for paper work such as your national insurance number, car registration and tax, house purchases, income tax and national insurance payments.

If you have children, there are several privately run, English speaking schools that teach the UK curriculum. You will have to pay between 5,000 and 10,000 euros per annum for your child to attend these schools. In comparison to private school fees in the UK this is very cheap. Private schools in Spain offer small class sizes and pass rates are above average. I would recommend a private school for older children, but, if you have young ones, and considering living permanently in Spain, sending them to a Spanish state school will be more beneficial for them as they will be fluent in Spanish in a very short time and integrated in to the Spanish way of life.

Once you have sorted out all your day to day living requirements, it's time to sit back and enjoy the lifestyle. Probably not, unless you have a very good pension or are extremely wealthy you will have to get a job. The wages in Spain are considerably less than the UK, but the cost of living is much cheaper. There are many positions available and in quite a few cases you do not need to speak Spanish, most English run companies, mainly deal with English clients, thus making Spanish unnecessary. Speaking Spanish of course adds to your CV and will open up the employment market to you.

You may decide that you want to start your own business. I would recommend that you initially work for someone in the industry that you have chosen, just to understand the Spanish systems and obviously if the marketplace is profitable. A lot of businesses open and close after less than year. This is not because of bad economic conditions, it's because the person starting the business has not done their research and has perhaps not run a business before. Starting a business in any country is difficult and especially when you do not understand the language, accounting and tax systems.

There are many very successful businesses run by expats, but usually the owner has had experience in a similar industry back in the UK or has run a successful business before and is prepared for the long hours. There is no easy money to be had in Spain. If you are prepared to work hard and often for very long hours then you can have a good standard of living, with the extra benefits of weekends on the beach, or doing activities you love in the sun.

So six months down the line you've got a job or started a business, made friends and have your favourite hangouts. If you have kids they have settled in school and will probably be speaking better Spanish than you.

What do you do next?

Have a great life, work very hard, play hard and enjoy!

Article Source : Pg. 90

About Author

Both Ray Prince & Jo Ivory are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.

Ray Prince has sinced written about articles on various topics from Finances, Babies and Property Guide. Ray Prince is an Independent Financial Planner with Rutherford Wilkinson plc, and helps UK Resident Doctors and Dentists get the best deals on mortgages, protection and investments, as well as helping them achieve their financial objectives. Click here fo. Ray Prince's top article generates over 33100 views. to your Favourites.

Jo Ivory has sinced written about articles on various topics from Finances, Destinations. Jo Ivory has lived in Javea for 4 years and runs the following property websites and. Jo Ivory's top article generates over 2400 views. to your Favourites.