What if you’d started 10 years ago?
There’s that saying: “The best time to plant a tree was 10 years ago. The second best time is now”.
As business owners and entrepreneurs, we like to feel in control. We have a vision; we plan and we take action.
We think about what we want to create, so when we look back in future, we’ve done something to be proud of.
But money?
I mean, do you want to look back 10 years from now, and wonder where all the money went?
Probably not. And it’s true that the earlier you start, the more impact you can have.
Take investing. If you invested £670 a month into your pension or ISA for 30 years, you could have a pot of about £1.5million when you come to use it.
If you wait 10 years to start putting the money away – so it only grows for 20 years – you’ll have just £513,000.
Still a nice lump! But you’ve lost out on £1million (!) by not taking action sooner.
I’ve made a few assumptions over a ‘typical’ investment and of course, not all will perform in the same way. BUT the point is that the earlier you start, the more you will have. It’s a compound effect. And the growth happens while you sleep.
And in case you’re wondering, £670 a month is 8% of a £100k salary – which is what you’d be paying via NEST if you were an employee. It’s a good place to start in terms of contribution size – but you can put in more, as long as you and your business can afford it!
The same goes for overpaying your mortgage. Making overpayments reduces the balance and the sooner you start, the bigger impact it has.
So NOW is the time to start thinking about what you want to achieve in future. And then you can decide which things you need to start getting on top of first.
If you cast your mind back 10 years, I bet a lot has changed.
It definitely has for me – I’ve had another baby, got married, got divorced (not in that order!).
And I started a brand-new part of my business, Peace Together Money Coaching, which adds on to the financial advice I’ve been involved with for the last 13 years.
Why? What was the point when I already had a successful 6-figure business? How on earth did I come up with the name Peace Together?
Well – I loved helping my financial planning clients, but I realised something massive was missing.
So many of them didn’t understand their money and how it could help them build their dreams. So many felt overwhelmed by complexity of the whole financial world and even scared – and there was nothing out there to help, except a load of inaccurate and out of date info on Google.
I wanted them to see how exciting money can be, when you use it as a tool to build your dream life and help others do the same.
That’s where the idea came from. But I needed a name!
I wanted to set it up as a limited company (which can be a great way to reduce your tax bill, by the way).
So my husband and I cracked open a bottle of wine and sat down, to try and come up with something that felt right.
The ‘peace’ bit came first – our family’s initials (Philip Edwin and Claire Elizabeth) – but ‘peace’ what? What did I want to say to people about our business?
Together. We’re in this journey together.
I didn’t want to tell people what to do. I wanted to hold their hand while they did it. While THEY took control.
Because when something is scary and you need to take a step forward, you need someone to hold your hand.
Because sometimes you have a mental block rather than a physical obstacle (so often the case when it comes to money!).
When I walked the Great Wall of China to raise money for the hospice in 2007, most of it wasn’t anything like you imagine.
It’s not all castle on a hill stuff like you see on TV – it’s a little teeny path, on a 20ft wall, on top of a blasted mountain.
No safety net, no barrier, just a path you hope your clumsy size 8s will stay on.
At one point, I needed to step from one broken bit of wall to the next.
It was only a gap of maybe 4 inches.
But I was 60 feet up and found myself frozen, unable to move forward.
Until the guy who was one step ahead of me turned around and held out his hand. Taking it, I relaxed, let out a huge breath and took that next single step forward.
That’s what I do for the amazing women I work with.
And that’s what I’m offering to you, too.
Reaching out my hand and giving you the confidence to take that step, whatever that looks like for you.
The Wealth Builder Experience isn’t for everyone.
It’s about piecing your financial future together, one step at a time.
It’s called the Wealth Builder because over 6 months working 1:1 together, we’ll work on taking your surplus business income and turning it into £500k+ of passive income assets in the next 5 years (yes, really!).
We start with an intensive in person day together. We’ll organise your financial foundations (whether you have anything in place right now or not!), get a clear picture of what your future looks like and create your Wealth Strategy Plan.
You’ll leave the day knowing your exact next steps, before we meet again.
Then, we’ll have Zoom calls at the end of month 1 and month 3, with a final session together and celebration lunch (someplace nice!) at the end of month 6.
You’ll get 1:1 email and Voxer support from me throughout.
At every stage, you’ll know your exact next step and your financial milestones and markers, to keep you on track.
You’ll know EXACTLY what to do; what your money is doing, how it’s growing and where, with total clarity and confidence.
If you’re ready to take that first step to sorting out your finances, here’s where you can book in for The Wealth Builder Experience now.
If you’ve got questions or want to chat it through, here’s where you can message me now.
Like I say, it’s not for everyone. So many people never do take real control of their finances (and therefore their future).
The best time to start saving and investing was 10 years ago. The next best time is NOW. Right now. Today.
Shall we get started?!
Until next time,
Claire