Your Financial Journey

A Guide for Every Stage of Life

Life's a journey full of milestones, and your finances evolve alongside them. Understanding the unique financial considerations at each stage can help you make informed decisions and achieve your goals.

We know that one size never fits all, but hopefully this guide help to show you some of the main considerations that we look at when personalising your Financial Plan.

Use the age ranges at the top of each section to find where you might fit.

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Studying

The world can be a confusing place for teenagers, who are often preoccupied with their studies and navigating the complexities of social life.

While financial planning might not be at the forefront of their minds, it's crucial to encourage them to start thinking about their financial future. Even small steps like putting aside a small amount of money each month can make a significant difference in the long run.

This is also an ideal time to introduce them to fundamental financial concepts like budgeting, saving, and the power of compound interest. By fostering healthy financial habits early on, you can empower them to build a solid foundation for their future.

Exit

As retirement draws nearer, it's essential to ensure that your financial house is in order.

Scrutinise your retirement savings and assess whether they are sufficient to support your desired lifestyle. Explore options like downsizing your home or relocating to a more affordable area to maximise your resources.

Engage in conversations with a financial advisor to develop a comprehensive retirement plan that addresses your income needs, healthcare expenses, and any other financial goals you may have.

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Family

The 30s often mark a significant turning point for many, as they start families and purchase homes.

These milestones, while joyous, can also bring about financial challenges.

It's crucial to maintain a disciplined approach to saving, even as expenses increase.

Consider increasing contributions to your retirement savings and exploring options like Junior ISAs or child trust funds to secure your children's financial future.

Additionally, review your insurance coverage to ensure adequate protection for your growing family.

Career

The 30s often mark a significant turning point for many, as they start families and purchase homes.

These milestones, while joyous, can also bring about financial challenges.

It's crucial to maintain a disciplined approach to saving, even as expenses increase.

Consider increasing contributions to your retirement savings and exploring options like Junior ISAs or child trust funds to secure your children's financial future.

Additionally, review your insurance coverage to ensure adequate protection for your growing family.

Exit

As retirement draws nearer, it's essential to ensure that your financial house is in order.

Scrutinise your retirement savings and assess whether they are sufficient to support your desired lifestyle. Explore options like downsizing your home or relocating to a more affordable area to maximise your resources.

Engage in conversations with a financial advisor to develop a comprehensive retirement plan that addresses your income needs, healthcare expenses, and any other financial goals you may have.

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Adventure

Retirement is a time for embracing new adventures and pursuing long-held passions.

Whether it's traveling the world, volunteering for a cause you care about, or simply enjoying leisure activities, ensure you have the financial means to support your desired lifestyle.

Review your budget regularly, factor in potential healthcare costs, and consider exploring part-time work or consulting opportunities if you desire additional income or intellectual stimulation.

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Legacy

As you enter your 70s, thoughts of leaving a lasting legacy may come to the forefront.

Consider establishing a trust to manage your assets for future generations or making charitable donations to support causes close to your heart.

Review and update your will and estate plan to ensure your wishes are clearly documented and your loved ones are taken care of.

Additionally, explore options for long-term care insurance to protect your assets and ensure your well-being in later years.

Legacy

As you enter your 70s, thoughts of leaving a lasting legacy may come to the forefront.

Consider establishing a trust to manage your assets for future generations or making charitable donations to support causes close to your heart.

Review and update your will and estate plan to ensure your wishes are clearly documented and your loved ones are taken care of.

Additionally, explore options for long-term care insurance to protect your assets and ensure your well-being in later years.