If you thought building your own financial plan was complicated, starting a family added a whole new level!
Of course, you remain central to the plan. It’s crucial to understand your sources of income, your professional plans and aspirations and the age at which you’d like to retire. But there are so many other factors to consider. Including your children’s’ education, the size of home you may need and the provisions you want to make for each child as they become adults.
UNDERSTANDING YOUR FAMILY GOALS
The best way forward will, of course, depend on where your family is right now and where you want to get to. That’ll mean asking you a lot of questions and doing a lot of listening. With that knowledge, and a more in-depth understanding of your income, your debts and any savings or investments, you may have in place, we can start to build a plan to build the future you envisage for your whole family.
MAKING PLANS AND EXPLORING RISKS
We’ll explore your key landmarks in the years to come. We’ll look at where you want to live, how long you want to work for and the plans you want to make for you and your loved ones. We’ll look at how many children you have and whether there might be more to come! We’ll discuss the contributions that you and your partner may be able to make to the family plan. And we’ll also explore the risks that could stop you from making headway and the events that could require a change of plan.
MANAGING YOUR FAMILY TAX SITUATION
We’ll review your family tax situation, ensuring that you are managing your money and saving for you and your children in the most tax-efficient way possible both for the present and the future.
Let’s Make Headway
Yes, there’s a lot to take into account. And there are no easy short-cuts. Which is why we’d love to start making Headway. Let’s get talking and develop a financial plan built entirely around your needs and plans for the future.
SOME OF THE QUESTIONS WE’LL ASK YOU
Helping you manage your finances throughout your journey, isn’t something we can cut-and-paste. No two families are the same, even if some parents are doing a similar job or earn a similar salary. By chatting to you, we’ll be able to understand what makes you tick and how best to support you. So we’ll ask a range of questions including:
- How many children do you have and how old are they?
- What are your plans for saving for your children’s education and beyond?
- Do your children have any Junior ISAs?
- How are you saving and investing right now (if at all)?
- How long do you want to keep working for?
- At what age would you like to retire, and how much do you need to enjoy that retirement?
- When would you like to be mortgage free?
- Do you have any protection in place such as life or critical illness insurance cover?
- Have you written a will and begun to plan for your own inheritance?
- Have you considered putting money into a trust for future generations?
WAYS WE CAN SUPPORT PARENTS
Building a financial plan around your needs.View
Managing savings and investing in stocks, shares, property, ISAs (e.g. Junior ISAs).View
Pension planning, pension consolidation, pension finding and managing your pension contributions.View
Advising you on income tax, inheritance tax and capital gains tax plus investing tax efficiently into ISAs and pensions.View
Residential mortgages, commercial mortgages, buy-to-let mortgages and remortgages.View
Income, critical illness and life insurance.View
A retirement plan to allow you and your family to relax.View
Will writing, trusts, estate planning and administration.View