Do you know what allowances and reliefs are available to you and are you taking full advantage of them? Are you prepared for unexpected financial costs or a loss of income? Do you have a financial plan that addresses issues such as budgeting, debt, financial protection, savings and investments, retirement, mortgages and tax efficiency?
Knowing that you can reach your financial goals is key to achieving financial wellbeing. What are yours? Maybe you want to pay for a family celebration in five years’ time or would like to be financially independent by the age of 55. Maybe you want to enjoy your wealth now while you can, or is your ambition to pass on as much as possible to future generations?
You may be surprised how, with a little thought, patience and planning, you may be able to free yourself from financial worries, whatever your circumstances and stage in life. Here are some general areas to address.
Protect what you’ve got
You probably have taken out insurance on your home and its contents. However, have you taken out insurance that pays out if the family’s income dropped suddenly and unexpectedly? Or stopped totally? Have you given any thought to how the family would cope financially if this happened?
That is what financial protection is about – making sure that you and your family would be able to manage financially if one of the main earners were off work for an extended length of time because they were made redundant, had a bad accident or fell seriously ill, or if they were to die prematurely.
To find out how you can protect your finances book your complimentary*, no obligation, initial consultation call 08000 85 85 90 or email appointments@lighthousefa.co.uk.
Time to give your personal finances a mid-life MOT?
As you get older your priorities change, and the way your personal finances are organised needs to change too. It’s time to give your financial planning an MOT.
Do you know how many pensions you have? And how much they are worth? Maybe you would like to help your children buy their first home but are not sure of the best way of doing this. And, with retirement just over the horizon, you may be worried that you won’t have enough income when you retire.
Giving your personal finances a thorough overhaul can help you resolve these and other concerns and the best way of doing this is to book a mid-life financial MOT.
To book a mid-life financial MOT with one of our professional financial advisers call 08000 85 85 90 or email appointments@lighthousefa.co.uk.
The financial implications of life-changing events
Life doesn’t always run smoothly. Most people experience at least one unexpected event during the course of their life. As well as being emotionally devastating, these events can have a serious impact on your financial situation.
When things go wrong it can be difficult to see beyond your immediate predicament. Yet life moves on. We can help you get back on track so that when the dust settles, you can still realise your longer-term goals. It is advisable to take professional financial advice if you go through one of the following:
- Get married or start living together
- Start a family
- You spouse, partner, a parent or other close relative dies
- Get promoted or change jobs
- Retire or start using your pension fund
- Move abroad
- You or a close relative are going in to long-term care.
To talk about the financial implications of a life-changing event book a complimentary*, no obligation, initial consultation call 08000 85 85 90 or email appointments@lighthousefa.co.uk.
Making life a little more comfortable in retirement
Are there things that you would like to do, but don’t have the cash available? If so and you are over 55, you may be able to take out a special type of mortgage on your home and receive either a cash lump sum, or additional regular income for the rest of your life. This is known as equity release or a lifetime mortgage. You can spend the money you receive as you wish.
There are a number of ways you may be able to release equity from your home, and it is important to understand exactly what is involved. Equity release is not suitable for everyone. As specialist, professional advisers, our job is to recommend a suitable option for your specific circumstances and objectives.
To book your complimentary*, no obligation, initial consultation call 08000 85 85 90 or email appointments@lighthousefa.co.uk.
Appoint a professional financial adviser!
As professional financial advisers, it’s our job to help you organise your finances in a way that leaves you free to live your life without money worries. We will find out what policies you already have, even if you’re not sure where the paperwork is. We will look at what financial support, if any, your employer provides, and confirm what you’re entitled to from the state. We will tell you where the gaps in your finances lie, how you can plug them and how, generally you can make your money work harder. You will then be able to relax and live your life free from money worries.
- The buck stops with them: with something as important as your finances, you don’t want to worry that you’ve got it wrong. A financial adviser, on the other hand, is a specialist in this area. They’ll keep up-to-date with the latest products and changes in the market, and take responsibility for making the best choice on your behalf.
- Practical help: if you ever need to claim on any of your protection plans, your adviser will help you with this. Whether that’s making the initial claim, or following up with any paperwork for you. It’s an adviser’s job to support you throughout your partnership with them – and that includes the aspects that can often be more difficult for you during an emotionally challenging time.
- Proactive support: they can provide ongoing support to make sure the plan you have is still right for you. For example, you might need to adjust your cover if you move house, have children or change jobs. Rather than leaving you to manage this yourself, your adviser can make the relevant changes so your plans are always valid and up-to-date.
It’s true that we buy so many things ourselves online now, from flights to pizzas and fridge-freezers, without having to go through a middle man. But when it comes to something as important as our finances, it pays to go to an expert.
To book your complimentary*, no obligation, initial consultation with one of our professional financial advisers call 08000 85 85 90 or email appointments@lighthousefa.co.uk.
* The initial consultation is designed to discover whether or not you would benefit from financial advice and there is no obligation on either side to proceed further. Any advice related fees will be clarified with you before any commitment to proceed.
The value of your investments can go down as well as up, so you could get back less than you invested. A pension is a long-term investment. The fund value may fluctuate and can go down. Your eventual income may depend upon the size of the fund at retirement, future interest rates and tax legislation. Trusts and tax advice which contains no investment element is not regulated by the Financial Conduct Authority. Equity release may involve a lifetime mortgage or a home reversion plan which is secured against your property. To understand the features and risks, ask for a personalised illustration. Equity release may impact the size of your estate and it could affect your entitlement to current and future means-tested benefits.
Lighthouse Financial Advice Limited is an appointed representative of Lighthouse Advisory Services Limited (FCA registration number 195199), which is authorised and regulated by the Financial Conduct Authority. The Financial Services register can viewed at https://fca.org.uk/register.
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