My Joy and Responsibility
Last weekend, my family and I welcomed Myla J Coady into our world, marking a new chapter in our lives. As a proud father of now four incredible children — Grace (18), Michael (17), Mason (18 months), and Myla, the responsibilities have magnified. Each of my children has brought a unique light into my life, and Myla’s arrival is no different.
The first few weeks as a parent are a whirlwind of emotions and responsibilities. For Myla, there’s a list of immediate tasks to undertake:
- Registering her birth and obtaining a birth certificate.
- Securing her Emirates visa and British passport.
- Enrolling her medical insurance.
- Updating my will and guardianship documents in both the UK and UAE.
- Adjusting beneficiaries on my insurances and reviewing coverage amounts and terms.
- Opening a children’s savings account, with an additional one set up by her grandma.
- Recalculating future expenses, including education costs, keeping in mind my age (48) and most probable retirement date before Myla’s 18th.
These steps are crucial, not just for Myla’s security, but as a reflection of my duty as a parent. They are also a stark reminder of the advice and guidance I provide to my clients. As we celebrate these beautiful moments, we’re also reminded of the responsibilities we carry for our families futures. It’s a duty that, as parents, we must always be addressing.
In my profession as a financial adviser, I’ve guided many families through similar milestones, ensuring their joy is backed by a solid financial plan. From securing their children’s futures through education planning and insurance to safeguarding family wealth with updated wills and guardianship documents, these steps are not just administrative — they’re acts of love.
My journey with Myla has just begun, and as I ensure these initial steps, I’m reminded of the importance of being proactive, not just in the blissful early days but throughout our children’s lives. It’s our duty as parents to crack on with these essential tasks, ensuring our families are protected and prepared for the future at all times.
For my clients and colleagues, let Myla’s birth be a reminder: don’t wait to secure your family’s future. Whether it’s updating your financial plan, reviewing insurance coverages, or ensuring your legal documents reflect your current life stage, these actions are paramount.
As I embrace the beautiful moments of being a dad to a baby daughter again, I encourage you to reflect on your own family’s financial and legal preparedness. Together, let’s ensure our families are protected, come what may.
