OH so I will be able to pay my Son's foreign education fees, only if I do this ?
A client whom we onboarded about 2 months ago, had 1 very important decision to make- home buying.
His son went to Canada recently for 3 year education.
When we sat together, understood all, after proper evaluation, we clarified them that if they buy home today (just by looking at the markets and interest rates), they may not be able to fund their Son's foreign education fees.
This helped not only the decision maker, but all family members not only get that 'home buying' thought out of there mind for now, but it was jointly decided to keep that milestone year as 2025, by then their sons' education would have been done and their loan eligibility would also be more suitable and comfortable at the same time they would also be ready with bigger down payment.
This is how #financialplanning should help remain focused on actions in the right direction.
It is in human behaviour that we cannot see outcomes in future, especially when there are 2/3 or multiple events coming together.
#financialfreedom #financialadviser #financialplanner #personalfinance