Supporting You in Your Wealth Journey
At each and every stage of life, people’s needs and objectives develop and evolve.
This is why you need a Financial Plan, and a financial partner who can be flexible enough to work with you throughout your life, to help you meet and tackle the challenges you’ll inevitably face.
Wealth Journey: Twenties
For any long-term goal – be it sport, a career, or a hobby – the earlier you craft a financial plan and begin to focus on what’s important, the greater your chance of achieving that goal. By starting your investment journey early, your money has more time to grow and work for you.
The act of buying your first home involves many years of planning, saving for a deposit, estimating your future salary to project potential borrowing, and more. Meeting a financial planner early can help bring all of these variables under a single, easy-to-manage plan.
Finally, protection and life insurance products are priced more attractively for younger people, as the risk to the insurer tends to be less. With so much uncertainty ahead, putting in place some low-cost protection at this age could be the most cost effective way to insure against the uncertain and the unforeseen.
Wealth Journey: Thirties
As we reach our thirties, life very quickly becomes much more complicated. You may be fully-focused on your career, but you’re likely also looking to buy your first home or step up a rung on the ladder. You may be thinking about a joint plan with a partner or starting a family. The importance of pension planning is starting to become clear.
As your income grows, so too do your mortgage debts. This could be a good time to revisit your protection arrangements to ensure they are still suitable.
Wealth Journey: Forties
Forty is the age that we often see clients first have that “ah ha!” moment; the point where the need for proper financial planning becomes most apparent. By this point you are doing well in your career. You may now have a growing family and might be thinking of planning for school fees. Retirement is on the far horizon, but it’s something you know you should look into, even if it’s to confirm that you are on track and bring into focus what your retirement will look like.
Many of our clients at forty are looking to scale up their earnings from their job for a better quality of life. Investing is a great way to do this. Depending on your career, you may now be an additional-rate taxpayer and have seen your tax bill rise significantly. Eclipse Financial Planning can help refine your existing financial plan to ensure your overall accumulation plan is as tax-efficient as possible.
Wealth Journey: Fifties
At fifty, your retirement planning should be set, although if it isn’t, we can still help. This may involve consolidating your pensions from previous jobs and helping you understand what pensions you actually have. Having discussions about what a good retirement looks like to you is imperative at fifty. If there is a shortfall, then we can work out how you can bridge this and arrange a suitable investment plan to overcome it.
Many people want to enter retirement mortgage-free, and with our mortgage service we can ensure we give you the best chance of doing this
Will planning, if not already done so, is essential at fifty to ensure assets are passed on in the way you would want, should anything happen. For a similar reason, we like to review our clients’ protection policies at this stage, as by now it is usually too late to recover from a significant shortfall.
You may want to start thinking about inheritance plans, but don’t want to give up control too early. Trusts can be a very good way to do this.
Wealth Journey: Sixties and Beyond
Many clients come to us in their sixties, looking for help and worried that it might be too late. More often than not, it isn’t. By this age, there is an extensive list of different ways in which we could help depending on your own individual journey.
We can help make sense of what you have in terms of assets, in pensions or other accounts, what investments you have. We can look into bringing everything together, under a consolidated plan to best support you in retirement.
Once settled into retirement, inheritance starts to become a primary focus. As you are aware of what will be left, you may want to think about the legacy you leave to the next generation. Thorough planning can help reduce taxes, with the added benefit of retaining greater control of those assets.
“Concerned about my retirement, I sought clarity over my finances, with a view to an increased and more certain income. This was one part of my overall financial planning especially regarding pension level and inheritance considerations.
It was immediately apparent that Tom had done his homework regarding my situation. He had clearly put in some hours to achieve this. This gave me confidence in him.
In the difficult recent climate, and in less than 2 years, it’s doubtful that anyone has seen what they were hoping for. Even so I feel happy with his work. I genuinely do not think he could have done much better. He has been excellent and very professional.”
– Andrew, Scotland –
“I’ve never taken investment seriously but with a young family I felt the time was right – that and I had a number of different pensions, which I wanted to consolidate. Tom walked me through all the options both in terms of pensions as well as other investment options for both myself and my partner, explaining the pros and cons at all stages.
As a result we’ve consolidated two of the three pensions, keeping the third on its own as it is still actively being paid into. Tom also helped us set up an investment portfolio which has initially been started with a small monthly contribution.”
– Michael, Kent –
“We needed a general overhaul on our existing insurances and cover as we had experienced a lot of changes in the last couple of years. We have changed our coverage to make them better for us and pay out less than we needed to but at the same time, being better covered.
Not only that, we were interested in how to safeguard our money and to make our money work for us in a more efficient way to be able to build a legacy for our children, Tom took time to understand our life situation and ongoing needs. What our plans are for the future and also our outlook on life and lifegoals. He then suggested various ways in which we could proceed with the pros and cons for each. At no point did we feel pushed into committing to anything that was advised. How we could plan for the future as well as fix the short term issues. Tom took his time to explain various forms of investing and how they would go alongside our lifestyle.
We also looked at the long term as to where we would be in 5 years and what to do then. We now have a better understanding of where we want and need to be to be able to make a better life for our children going forward.”
– Jason, London –
“I met with Tom to review my current protection. It was refreshing to see that Tom took the time to understand me before offering advice on the policy I had. He really made the effort to understand my specific circumstances and offered information to help me better understand my situation, the risks that I faced and the cost of not covering these.
Through our conversations we looked at a number of options which helped me feel more comfortable about what I could buy and why, whilst staying in line with my budget. When I had questions or wanted more information Tom was swift to respond and gave the detail I needed to be able to progress to the next stage.
I found Tom to be highly professional in his approach, yet personable and enjoyable to work with.”
– Kate, London –
You Define Success
Together We Achieve It
Eclipse Financial Planning can help you at every step of your financial journey, no matter which step – or steps – you feel you need assistance with, to empower you to make the right decisions for yourself, your family, or your business.
The Financial Conduct Authority do not regulate will writing nor inheritance tax planning. Will writing is a service offered in our own right; it is not part of the Quilter Financial Planning offering.