{"id":981,"date":"2019-02-12T15:42:27","date_gmt":"2019-02-12T15:42:27","guid":{"rendered":"https:\/\/arkenstonewealth.co.uk\/?p=981"},"modified":"2019-02-12T15:42:27","modified_gmt":"2019-02-12T15:42:27","slug":"from-the-corporate-world-to-the-high-seas","status":"publish","type":"post","link":"https:\/\/www.arkenstonewealth.co.uk\/blog\/from-the-corporate-world-to-the-high-seas\/","title":{"rendered":"From the Corporate world to the High Seas"},"content":{"rendered":"

\"\"<\/p>\n

I recently caught up with Dan West, a client I\u2019ve worked with for the past eight years. Dan\u2019s a very positive person by nature, but he was in a particularly upbeat mood when we met, as he\u2019d made an exciting and possibly life-changing decision.<\/p>\n

Dan is in his 40\u2019s and originally hails from Poole, Dorset. He now lives in Buckinghamshire with his wife, their two children, dog and two horses!<\/p>\n

In his teens, Dan nearly made the grade as a professional footballer but it was his interest and education in technology that led him to a career in this field.<\/p>\n

\u201cMy career really kicked off at Marconi in the mid-90\u2019s and I quickly moved up to leadership positions at companies like Camelot, ASOS and New Look.\u201d<\/em><\/p>\n

Around five years ago, Dan decided to leave full-time employment and offer his expertise and leadership skills on an interim basis to large companies (including lastminute.com and KPMG) undertaking major technological changes.<\/p>\n

\u201cAdvisory and interim leadership was great. It allowed me to remain involved with fast-paced and growing businesses, but I could be more selective about the work and my time, which was liberating and empowering in every sense.\u201d <\/em><\/p>\n

Being self-employed (under a limited company structure), Dan was happy with his work-life balance, but opportunity soon came knocking.<\/p>\n

\u201cInterim and advisory work really suited me but for many reasons, the chance to work at a global company like AIMIA (loyalty program operator \u2013 think Nectar points) was just too hard to turn down.\u201d<\/em><\/p>\n

As the company\u2019s Global Chief Information Officer, Dan was travelling regularly and working long hours. Recently, however, major structural changes within the company has seen his position become obsolete.<\/p>\n

\u201cI\u2019ve known for a while that my role was to be phased out, so I\u2019ve had time to really think about what\u2019s important to me and what my next move might look like.<\/em><\/p>\n

\u201cGoing back to interim work comes with risks but I see this as a no-brainer. The more difficult but more exciting decision is to pursue my other passion, which is sailing. My plan is to further my sailing qualifications in the spring with a view to gaining the Yachtmaster Offshore Certificate.<\/em><\/p>\n

\"\"\"\"<\/p>\n

\u201cMy hope is that this will open up a host of work opportunities in the marine industry, which in turn could open up further opportunities and experiences for my family.<\/em><\/p>\n

\u201cThe stars feel like they\u2019ve aligned in terms of timing and, importantly, I have my wife\u2019s full permission to sail ahead and just go for it<\/em>!\u201d<\/p>\n

What reaction have you had from other people?<\/p>\n

\u201cOverwhelmingly supportive. From \u2018You only live once\u2019 to \u2018Follow your dreams\u2019. Not one person has said that I\u2019m mad and should find another full-time job in the corporate world. <\/em><\/p>\n

\u201cWhat\u2019s also surprised me is the social media interest; lots of well-wishers and people wanting to follow my journey.\u201d<\/em><\/p>\n

This could be the start of a very different life, but it begs the obvious question; what about the financial side of things?<\/p>\n

\u201cIf I\u2019m honest, the decision both excites and terrifies me because I\u2019ve no idea how things will work out. I therefore wanted to be sensible about how I approached the change. <\/em><\/p>\n

\u201cAs well as getting my mindset right, I\u2019ve engaged with financial planning in a much deeper way than I\u2019ve done in the past. I had lots of questions in my mind and financial decisions to make.\u201d<\/em><\/p>\n

Dan and I have spent the past year or so answering many of these questions. What were his main concerns?<\/p>\n

\u201cHow would periods without income affect our lifestyle and how much I\u2019d need to keep by for short-term costs and emergencies?<\/em><\/p>\n

\u201cHow will this affect funding the children\u2019s education and getting them started in life?<\/em><\/p>\n

\u201cShould I pay down the mortgage or invest more in markets? What level of investment risk is right for me given my plans and attitude to risk?<\/em><\/p>\n

\u201cWill I need to reconsider my plan to retire early?<\/em><\/p>\n

\u201cIt basically boiled down to understanding just how much money is enough to see all of our plans through.\u201d<\/em><\/p>\n

One particular exercise Dan and I undertook to help provide a framework for his decisions was Cashflow Modelling.<\/p>\n

\u201cBeing able to visualise what your finances might look like at any given point in the future based on the decisions you make today is incredibly valuable. The process helped me prioritise my goals and made it easier to understand if and where compromises might need to be made. <\/em><\/p>\n

\u201cIt gave me more clarity and confidence to take a different direction.\u201d<\/em><\/p>\n

It\u2019s early days in Dan\u2019s sailing journey, but what\u2019s his advice to anyone thinking about embarking on a major lifestyle change?<\/p>\n

\u201cNo-one can predict the future or what life might throw at you, so you have to have a plan. My advice would be to consult your financial adviser in the first instance, as they can help you see the bigger picture and understand the longer-term financial impact of your decisions. <\/em><\/p>\n

\u201cHard work is essential but leave blind faith at the door. I\u2019ve set myself certain targets over the next 12 months and if I don\u2019t consistently hit them, I will adjust my plan or walk away before it has any significant impact on my family\u2019s financial security.<\/em><\/p>\n

\u201cIf my plan doesn\u2019t ultimately work out, I can always go back to full-time work. At least I\u2019ll have a good story to tell at the interview!\u201d<\/em><\/p>\n

This has been a big decision for Dan and his family, so from a personal and professional point of view, it feels very satisfying to be able to play some part in their journey. If you also want to follow Dan\u2019s progress, please subscribe to his blog at www.westafloat.com<\/a>. <\/strong><\/p>\n

Lastly, if you\u2019re in need of some advice, whether that involves a major life change or you simply want to gain clarity about your financial future, please don\u2019t hesitate to get in touch.<\/p>\n

Simon<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

I recently caught up with Dan West, a client I\u2019ve worked with for the past eight years. Dan\u2019s a very positive person by nature, but he was in a particularly upbeat mood when we met, as he\u2019d made an exciting and possibly life-changing decision. Dan is in his 40\u2019s and originally hails from Poole, Dorset. … Continue reading “From the Corporate world to the High Seas”<\/span><\/a><\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"_links":{"self":[{"href":"https:\/\/www.arkenstonewealth.co.uk\/blog\/wp-json\/wp\/v2\/posts\/981"}],"collection":[{"href":"https:\/\/www.arkenstonewealth.co.uk\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.arkenstonewealth.co.uk\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.arkenstonewealth.co.uk\/blog\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.arkenstonewealth.co.uk\/blog\/wp-json\/wp\/v2\/comments?post=981"}],"version-history":[{"count":0,"href":"https:\/\/www.arkenstonewealth.co.uk\/blog\/wp-json\/wp\/v2\/posts\/981\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.arkenstonewealth.co.uk\/blog\/wp-json\/wp\/v2\/media?parent=981"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.arkenstonewealth.co.uk\/blog\/wp-json\/wp\/v2\/categories?post=981"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.arkenstonewealth.co.uk\/blog\/wp-json\/wp\/v2\/tags?post=981"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}