Financial Advice for every stage of life

You have landed your first ‘serious’ job

This is often the first time that people will look at pensions and start building up savings. Key goals at this stage tend to be:

• Saving to purchase a property
• Paying off debt, such as student loans
• Beginning retirement planning

You get married

In amongst the whirlwind of wedding planning, there are also important financial goals to consider, such as:

• Wills need to be set up
• Trust planning should be considered
• Joint investments and retirement planning need to be set out

You are planning to have children

Having children often requires a review of household budgets, which can have an impact on savings, investments, and retirement planning. Goals around planning for children typically involve:

• Providing funds for education
• Updating family insurance policies
• Updating wills, assigning guardians, and setting up trusts

You are approaching retirement

As people approach retirement it is vital that they review their financial planning, as this is often the last chance to make significant changes that will affect financial security in old age. It can be important to:

• Start de-risking your pension in order to preserve its value
• Safeguard against potential market volatility
• Plan how to take income from your pensions, savings, and investments

During retirement/later years

For many people at this stage, thoughts begin to turn to leaving assets for family in the most efficient manner. This typically involves:

• Updating wills and trust planning
• Mitigating the impact of Inheritance Tax
• Managing pension income

At each stage, I collaborate with my clients to accurately define their goals and help build a financial strategy. This ‘goal-based’ approach is a critical part of how I work.

If you think you may benefit from a review of your financial plans, whatever stage of life you are at, please get in touch. Your first meeting with us is held at our expense, with no obligation.

About Ben Mulroney