Blog post by Jamie Kyte, Chartered Financial Planner, Buckingham Gate.
Five weeks ago, I had the overwhelming joy of welcoming my second child into this world. Ella Grey Kyte weighed in at 7 pounds with a full head of hair, very lady-like pout and a healthy set of lungs!
I wasn’t as emotional for the birth of my daughter, not because I wasn’t as delighted, but because the flood of emotions at experiencing your first born being pulled out of your wife’s stomach is so shocking, stunning and precious, that the feeling can never quite be repeated.
Ella has been fantastic over the first few weeks. Of course, she’s caused us night after night of disturbed sleep but the pleasure of holding this beautiful girl at 12am, and 2am, and 4am as she stares intriguingly wide eyed at my face probably not knowing who I am, makes it all okay!
Like with my son Jake, having a baby once again puts everything into perspective. The moment Jake came into this world I realised that I would do anything for him and as he’s grown up, I’ve made sure that I spend as much time with him and my wife as possible.
If you are a client of mine, you may have had me ask you the following in one of our meetings:
‘‘Imagine you visit your doctor who tells you that you have five to ten years left to live. The good part is that you won’t ever feel sick. The bad news is that you will have no notice of the moment of your death. What will you do in the time you have remaining to live? Will you change your life, and how will you do it?’’
When I answered this question, I decided to make a change to the way I lived. Often, I would come home past 7pm on weekdays and on weekends I wouldn’t spend quality time with my wife and son. Having answered this question and gone through the life planning process, I decided that if I were faced with this dilemma I would want to spend as much time with my family as possible and make sure that they are able to continue living our lifestyle when I’m no longer here.
From this, I decided that going forward I would always be home for Jake’s bath time, and on the weekend, we would spend quality time as a family. In addition, I made sure that I had the right protection in place (not just a nice number), so that if I was no longer here my family could continue living our current lifestyle.
Whilst most of Buckingham Gate’s clients are either approaching financial independence (retirement) or are already there, we also work closely with families who are in the same position as myself and that are in the accumulation stage with young children.
If you or a family member would like to pop in for a complimentary meeting to discuss how to put the right planning in place when you have a young family, feel free to call us on 020 3478 2160 or email us at [email protected] to arrange a meeting.