Autumn [50 to 65]
Increased income
During this stage of life you may find your disposable income increases significantly –through a promotion at work, lucrative business deals or an inheritance. It's important to ensure that increased wealth is managed to the best advantage, enabling longer term goals to be achieved.
Your Financial Planner will help you decide whether additional money will be used for your short term or long term goals and guide you through any complexities towards a secure future.
Many families find they have accumulated a vast array of financial products that seemed a good idea at the time, but no longer make sense to their investments, tax planning and so on. This is where we can help.
Working overseas
Working outside of the UK places you in a very complex area of financial planning. Your Financial Planner can advise you on matters such as taxation, where you should hold your money and other issues that arise from working abroad.
Redundancy
For some this can be a time of emotional stress and self-doubt.
If you are made redundant you may well have a redundancy payment that needs to be used wisely. It could be that you will use your money to start up a business, or because you have found another job you are able to incorporate your redundancy money into your plans for the future.
A Financial Planner can help you emerge out of your likely state of confusion with a concrete action plan.
The mid-life crisis
Children may have flown the nest, your earnings are at their peak and you have already bought the sports car or the motorbike.
With your disposable income so high, it is a good time to put a little extra away for the future. Take a fresh look at your long and short-term objectives and make contingency plans for the possibility that during retirement, ill health may require long-term care.
Early retirement
For some, this means a voluntary and happy decision to leave behind the world of paid work and start a life of leisure as soon as financially possible. For others, early retirement is forced on them by altogether less pleasant circumstances.
Whatever your particular circumstances, successful retirement depends almost entirely on successful planning through your working life, particularly if your retirement starts earlier than expected.
Separation or divorce
Sadly you and your partner may separate or divorce. At this time you will naturally take legal advice, but it is also a time to take advice from your Financial Planner.
Together you will consider all your financial affairs as you reassess your plans and aspirations for the future.
Falling ill
If you fall ill, how will you support your family and pay for the additional care caused by your illness? Your Financial Planner can suggest ways to provide your family with adequate cover during illness.