Grow, protect and plan your personal finances

2 March 2020

We all have that goal and dream of becoming financially independent, but how many of us really know what that journey looks like and where we are on that journey today?

Forecasting what the future might look like, understanding key milestones and planning for both the expected and more importantly, the unexpected, is something many of us have failed to do. It’s this extra layer of detail and focus, that allows us to truly understand when financial independence is achievable, that’s so vital. The saying goes “time is money”, which in this case is very true. Taking the time to plan your finances is a crucial investment in itself.

Scoping out income required over your lifetime, including life events such as children’s weddings or a holiday home, in addition to your own retirement needs, enables you to understand any income gaps and hurdles – and gives you time to plan around these.

The tax landscape

In respect of the constantly changing tax landscape, we advise our clients to commit to a tax strategy, looking at how they can optimise their cash flow and mitigate the impact of legislative changes.

Having a plan that outlines your future, personal and business goals, and the tax triggers along the way, gives families a clear understanding of what tax liabilities to expect and importantly sufficient time to plan for them – ultimately of course, provide “peace of mind”.

Why tax and personal finance advice should always be taken holistically

As many of us work towards financial independence, we strive to seek greater financial returns on investments, bonds, shares and pension funds.

Making sure the network of professionals around you work together, is therefore crucial. Ensuring your investments increase in value whilst falling outside of your estate for Inheritance Tax purposes, can be achieved by having the right team working collaboratively with you. By failing to engage the right people, you could miss out on significant opportunities through a lack of understanding the full picture.

By having a strong partnership and working ‘hand in hand’ with financial advisors, we’re able to offer this holistic approach for both tax and personal finance support and in doing so, guarantee all bases are covered when providing you with insights and advice on your options to both maximise and protect your wealth.

Need more information?

Get in touch with Chris Wilson on 0113 3239180