We have specialists in Lifestyle Financial Planning, which focuses on you and your financial goals, rather than any particular product. By moving the focus from products to you and what your finances mean to you, this is truly independent advice.
Discussing what fund or tax regime, pension or investment is best, whilst often being a necessary part of financial planning, isn’t generally very exciting. Instead understanding what these things mean to you and your lifestyle makes it more relevant and real.
Lifestyle planning looks at questions such as:
What will retirement look like for you? But not just as general as that, instead we may consider more detail such as:
- What type of holidays would you like?
Long exotic holidays, shorter but more regular trips on the continent, happy to stay in the UK or none at all.
- Where would you like to be able to do your grocery shopping?
Marks and Spencer, Tesco, Aldi or a daily walk to your local spar.
- How will you get around?
Need a big car to fit in the golf clubs and ferry grandchildren around, share a car between you, or use your free bus pass and rely on public transport.
- How will you spend your spare time?
What’s the point of giving up work if you can’t have some fun and spend some time on the golf course, and a few trips away. Or are you more home focused, maybe spending time in the garden is your cup of tea.
- You won’t need to buy work clothes any more, but what will your shopping habits be?
You have always liked to keep up to date and want to continue to have a new wardrobe each season or would still like to be able to buy a new outfit for your exotic holidays. Or maybe you don’t want to splash out this way and you will make do with what you have.
By fully understanding what the different stages of life look like to you, we are able to provide a highly comprehensive and bespoke financial plan to help you meet your goals. In order to do this we need to assess your current position such as income, expenditure and goals. This will enable us to provide a detailed picture of how close to your vision of your future you are, and give a year by year forecast of what your financial future will look like.
Once we have a picture of what is important to you we will then be able to answer the questions such as:
- Can I afford to stop work now, if not when?
- How long will my money last, and what do I have to do to make sure I don’t run out?
- What level of investment return do I need to achieve my goals?
- If I can’t achieve my ideal lifestyle what can I realistically expect?
- What do I need to do to pay less tax?
- What happens to my plans, and what will my family’s future look like if I’m ill or died young?
This is a different, and more engaging conversation, than one which may revolve around what type of plan you have, it’s tax treatment and what funds you have, as it’s all about YOU.
The Financial Conduct Authority does not regulate taxation and trust advice.