How Lifestyle Financial Planning can help different groups of people

We provide Lifestyle Financial Planning and independent financial advice to ensure you have the right money, in the right place, at the right time, giving you lifelong financial peace of mind. You can find out more in this article.

Here we're going to give you an overview of who it can help, and how.

For individuals, Lifestyle Financial Planning can map out the kind of lifestyle people can, or want to, afford by assessing how much they will need to save to retire at a certain age, where to invest for a return necessary to support their planned expenditure, and how much they can afford to draw from their pension/investments without running out of money too soon.

For business owners, knowing when is the right time to sell their business can be a tricky task. Will you have enough to live on if you sell now, or should you stick it out for a few more years? Using the LFP approach can provide vital clarity when it’s needed most, enabling clients to make an informed decision.

During retirement, families’ priorities can shift from their own lifestyle to looking after their children and grandchildren. Issues like inheritance tax can crop up and cause worries, like will my children have to sell the family home? Getting your affairs in order using LFP will leave you safe in the knowledge that your family receives the most they possibly can from your estate with the minimum of aggro.

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Here are some examples of how we can help individuals, business owners, and families:

Individuals

With individuals, we help to define what sort of life they can, or want to be able to, afford. This involves assessing: how much they will need to save to be able to retire at a certain age, where to invest for a return necessary to support their planned lifestyle, and how much they can afford to draw from their pension/investments without running out of money too soon.

Business owners

For business owners, we have vast experience in arranging things that would simply take far too much time without the help of a professional. These include setting up workplace benefits and pensions, creating exit strategies, and organising business protection insurance in case they, or a key member of staff, should die or fall seriously ill. And the best way of funding a 'Plan B' just in case the business exit doesn't realise as much as you'd hoped.

Families

When it comes to families, we are very keen to bring the clients’ children into the discussion, encouraging them to consider inheritance tax planning and the advantages of gifting money to the next generation.

Find out more here by booking a call with us.