Future Planning Wealth Management has expert knowledge and systems in place to work with clients in helping to deal with unexpected changes in circumstances to understand what the impact of this means to them. This couple came to us after being referred from someone that we identified did not need to pay for advice, but was happy with our honesty in respect that we will only work and charge fees if there is value for money for the client.
Some of the work involved:
Meetings were held to accurately receive all figures in full including income and expenditure cost of buying and replacing a car as no longer provided by company, and to clearly understand goals so that we could understand the value that we were going to add.
Once this stage had completed, then we ran the number crunching exercises, together with understanding what the cashflow forecast will say. We re-jigged some figures around and stress tested the figures. A Risk Questionnaire was completed and an in-depth discussion regarding "capacity and tolerance for loss" was held. Different models were created to show alternative approaches and the recommended route.
Understanding the tax figures really well both this year and going forward. Obtaining up to date information on existing investments to understand the risk of them.
We presented a clear picture of both what the current position looked like and future position will look like, including answering "can I retire". The great news was that actually they could retire immediately, and even after factoring in hypothetical stock market crashes for the investments to provide additional peace of mind. We covered:
As a result, we showed the client how these changes meant that there would be:
There are many varying factors to consider, different allowances and vehicles to assist with scenarios similar to the above. No two cases are the same and if you feel you are in a similar position to the above, you are welcome to send an enquiry through whereby we can discuss if we are able to add value to your situation.
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