3 minutes
3 minutes
3 minutes
3 minutes
to read
to read
to read
to read
Friday 20 March 2015
Friday 20 March 2015
Friday 20 March 2015
Friday 20 March 2015
Human beings, in general, are notoriously bad at calculating risk and weighing up reward – it’s almost hard-wired into us.
Thousands of years ago, survival depended on focusing on immediate needs – such as “eating today” – rather than worrying about the future. While this worked well for hunting mastodons, it’s far less useful when planning our financial futures.
This article explores key life moments where professional financial advice can make a significant difference to your wealth and long-term happiness.
Buying Your First Home
Before the 2008 financial crash, Britain’s housing market was booming, and house purchase decisions were being made at lightning speed. Easy access to mortgages and cheap credit resulted in many first-time buyers finding themselves in negative equity after the crash.
For others, the end of their “sweetheart deal” mortgage rates led to skyrocketing costs that made their homes financially unsustainable.
The Cost of Financial Missteps
The consequences of negative equity or expensive mortgages can be severe:
Feeling “trapped” in a property that can only be sold at a loss.
Managing an unsustainable mortgage that impacts other financial goals.
Professional mortgage advice from an independent financial adviser can help prevent these costly situations. Mortgage advice is often included as part of the overall loan cost, making it an accessible and invaluable resource.
Marriage: Combining Finances and Responsibilities
Many people cringe at the thought of discussing money alongside the romance of tying the knot. However, it’s essential to be realistic about the economics of marriage.
Getting married, sharing a home, and having children together means you’ll need to consider:
Life insurance
Wills and inheritance
Ownership of shared assets
A financial adviser can guide you through the maze of:
Life insurance policies
Critical illness cover
Other provisions tailored to your needs
Expert advice at this stage can ensure you get the best deals and save money in the long run.
Divorce: Navigating Financial Challenges
Unfortunately, for many couples, divorce becomes a significant milestone. Ending a marriage is emotionally and legally complex, but financial advice is just as important as legal guidance.
During a divorce, you might experience:
A reduction in income or the responsibility for maintenance payments.
Receiving or paying out a divorce settlement.
Becoming the sole provider for children, requiring a reassessment of life insurance and critical illness cover.
Financial Advice for Divorce
Reviewing or updating existing life insurance policies to reflect maintenance payments.
Guidance on investing any lump sum settlements to secure long-term value, such as funding children’s education or boosting retirement savings.
Disentangling pensions, which often requires the expertise of a financial adviser.
Retirement: Planning for a Secure Future
In savings terms, your retirement starts today. The earlier you begin planning, the easier and more cost-effective it is to build a comfortable retirement income.
If you’re unsure where to begin, a financial adviser can help you navigate pension options and products.
For those with existing portfolios, advice can be equally valuable:
Reviewing your current pension providers to ensure they’re performing effectively.
Auditing investments to see if your money could be working harder elsewhere.
Taking professional advice allows you to make informed decisions and ensures your retirement plans stay on track.
Knowledge is Wealth
The more expertise we access, the better informed we are – and the less likely we are to make costly, irreversible financial decisions.
With limited time, money, and options, it’s important not to rely on pot luck. If a significant life milestone is on the horizon, speaking with a financial adviser could provide the clarity and confidence needed to make the right choices.
Human beings, in general, are notoriously bad at calculating risk and weighing up reward – it’s almost hard-wired into us.
Thousands of years ago, survival depended on focusing on immediate needs – such as “eating today” – rather than worrying about the future. While this worked well for hunting mastodons, it’s far less useful when planning our financial futures.
This article explores key life moments where professional financial advice can make a significant difference to your wealth and long-term happiness.
Buying Your First Home
Before the 2008 financial crash, Britain’s housing market was booming, and house purchase decisions were being made at lightning speed. Easy access to mortgages and cheap credit resulted in many first-time buyers finding themselves in negative equity after the crash.
For others, the end of their “sweetheart deal” mortgage rates led to skyrocketing costs that made their homes financially unsustainable.
The Cost of Financial Missteps
The consequences of negative equity or expensive mortgages can be severe:
Feeling “trapped” in a property that can only be sold at a loss.
Managing an unsustainable mortgage that impacts other financial goals.
Professional mortgage advice from an independent financial adviser can help prevent these costly situations. Mortgage advice is often included as part of the overall loan cost, making it an accessible and invaluable resource.
Marriage: Combining Finances and Responsibilities
Many people cringe at the thought of discussing money alongside the romance of tying the knot. However, it’s essential to be realistic about the economics of marriage.
Getting married, sharing a home, and having children together means you’ll need to consider:
Life insurance
Wills and inheritance
Ownership of shared assets
A financial adviser can guide you through the maze of:
Life insurance policies
Critical illness cover
Other provisions tailored to your needs
Expert advice at this stage can ensure you get the best deals and save money in the long run.
Divorce: Navigating Financial Challenges
Unfortunately, for many couples, divorce becomes a significant milestone. Ending a marriage is emotionally and legally complex, but financial advice is just as important as legal guidance.
During a divorce, you might experience:
A reduction in income or the responsibility for maintenance payments.
Receiving or paying out a divorce settlement.
Becoming the sole provider for children, requiring a reassessment of life insurance and critical illness cover.
Financial Advice for Divorce
Reviewing or updating existing life insurance policies to reflect maintenance payments.
Guidance on investing any lump sum settlements to secure long-term value, such as funding children’s education or boosting retirement savings.
Disentangling pensions, which often requires the expertise of a financial adviser.
Retirement: Planning for a Secure Future
In savings terms, your retirement starts today. The earlier you begin planning, the easier and more cost-effective it is to build a comfortable retirement income.
If you’re unsure where to begin, a financial adviser can help you navigate pension options and products.
For those with existing portfolios, advice can be equally valuable:
Reviewing your current pension providers to ensure they’re performing effectively.
Auditing investments to see if your money could be working harder elsewhere.
Taking professional advice allows you to make informed decisions and ensures your retirement plans stay on track.
Knowledge is Wealth
The more expertise we access, the better informed we are – and the less likely we are to make costly, irreversible financial decisions.
With limited time, money, and options, it’s important not to rely on pot luck. If a significant life milestone is on the horizon, speaking with a financial adviser could provide the clarity and confidence needed to make the right choices.
