Perpetual Service
There are essentially 7 financial stages of life and although there are complementary needs and objectives within, each one is distinct from the other.
These stages can be defined as follows:
First job, new career
Bank Account, Current & Savings. Employee Benefits.
Home purchase
Will. Life Assurance. Sickness and Income Protection. Mortgage Repayment.
Marriage and dependants
Will. Life Assurance. Sickness and permanent health insurance. Retirement planning.
Business launch - Second home-School Fees-Divorce- Career change
Will. School fees planning. Asset splitting. Tax planning. Retirement planning. Family and Business Protection. Remuneration strategy. Succession and Inheritance tax planning.
Empty nesters pre retirement
Will. Tax planning. Wealth accumulation and Retirement planning. Family and Business Protection. Remuneration strategy. Succession and Inheritance tax planning.
Retirement
Will. Wealth distribution for Income and Gifting. Long term care/fees. Succession and Inheritance tax planning. Retirement income options.
Death
Division of assets. Tax liabilities. Succession
The majority of our clients will typically engage with us (although not exclusively) from Life stage 4 with the essential trigger point being Business launch.
This is undoubtedly a pivotal time in one’s financial life as it is potentially the most lucrative period of income growth. Personal wealth can be shaped and cemented at this point if the right choices are made. Wealth can also be diluted and frittered away through inefficiency if you choose poorly or through complacency and inaction.
It is fundamentally important to seek appropriate advice at all Life stages but absolutely critical when you arrive at Life stage 4. The following issues will shape the future of you and your family’s wealth: