Case Study 4 - Jim

Jim was 82 and very fit for his age. He played golf, had a sailing boat and enjoyed tinkering with a vintage car he had owned for the past 15 years.
When he rang me, he said that his wife had passed away a year ago and even though he lived in a canal home and all his neighbours thought he was wealthy, he was struggling to live the lifestyle he was used to on the single age pension.
 
As his home was valued at over $700,000 he decided that their weren’t any major expenses he could forsee, but he would like have a few extra dollars so he could play with his “toys’.
 
He simply opted for a $400 monthly payment over the next ten years which he found ample to fulfill his needs.  I still see him occassonally out in his boat enjoying the bay.