Early Future Planning
Time to check out your finances

As your life flies by in the age of text jargon, emojis and bitcoins, it’s time to take a 5 minute break, step back and check your finances. Let us help you simplify your journey through the realms of financial planning and take away the worry.

By planning earlier you can open possibilities of earlier retirement and remove the uncertainty for you and your families’ long term security.

  • “With every passing year, the traditional view that Investing Ethically entails sacrificing profits looks increasingly outdated. In our latest survey, ethical funds have more than held their own.”

    Richard Eagling, head of Pensions and Investments, moneyfacts.co.uk
  • “People who receive either independent or restricted financial advice are on average £40,000 better off than their unadvised peers.*”

    International Longevity Centre-UK (ILC-UK)

So how ethical are you?

You may have strong ethical beliefs and practices; don’t harm people, animals or the environment, but how ethical are your finances? Might you have been ‘greenwashed?’ Did you know most ethical investments are dependent on your individual views, requiring pre-qualification. Our Chartered Financial Planners can thoroughly check your existing finances (click here for the approaches you can take) and report back on their findings.

Why choose ethical?

With over 100 ethical funds available in the UK, investment choices are substantially greater than ever before. Seen previously as restrictive, ethical products and services are now diverse, meeting a wide range of requirements, including ISA’s, insurance, savings and current accounts. The latest research by Moneyfacts.co.uk reveals that ethical funds are performing remarkably well in the current economic climate, proving that investors can stick to their principles and still enjoy healthy investment returns. The average ethical fund has posted gains of 24% over the last year, compared with 18% growth from the average non-ethical fund.Ethical funds have also outperformed non-ethical funds over three years, with the average ethical fund up 36% compared with 31% for the average non-ethical fund.

Some questions you might have

Should I assess my finances nearer retirement?

No, the sooner the better, those who take financial advice are likely to accumulate more financial and pension wealth, supported by increased saving and investing in equity assets, while those in retirement are likely to have more income, particularly at older ages. *

* Research from International Longevity Centre – UK (ILC-UK)

Don’t let it be due to unfortunate circumstances, bereavements or divorce, be pro-active and allow us to educate you. Take advantage of our expertise, remove your financial worries and plan for the future. We can provide a wealth check-up, ensure you are looking after yourself, your dependents and even your parents.

We will help you understand where your money is now, then we will focus on planning your financial security for the future and you can be confident that you will be best prepared and in control.

When is the right time to think about my pension?

According to research by Unbiased, UK savers who take financial advice save on average £98 more every month and receive an additional income of £3,654 every year of their retirement, based upon a pension pot of £100,000.

What difference can a pension make?

Tax relief – take advantage of the tax relief on your pension.

Are you enrolled into a workplace pension? Your employer will usually match or better your contributions, so this essentially doubles the funding of your pension.

Your pension grows largely tax free, which helps boost the amount you have.

You can take 25% of your pension pot as a tax-free lump sum when you reach age 55. (Depending on your pension scheme rules).

We can help you with other decisions around – deferring your pension, guaranteed income and flexible income.

Do you need a Will?

The government receives millions every year from those that didn’t leave a Will. Only 7% of people have spoken to their parents about inheritance.

Are you aware who will legally inherit your estate? Have your circumstances changed? Try and involve your family in discussions. We can help with understanding inheritance tax and setting up trusts.

What about life or health insurance, can I afford it?

It’s possible you don’t need it but if you’ve children, a partner or other relatives dependent on your income then the answer is yes – you probably do want life insurance, since it will help provide for your family in the event of your death. There are ethical insurers available.

Many providers offer a range of deferred and payment periods giving you the flexibility to put income protection into plans with even the tightest of budgets. You can reduce the premium amount by increasing the length of time before a claim begins to be paid – some providers offer up to 52 weeks. Similarly, you could reduce the amount of time a claim is paid for (perhaps down to a year) to cut the cost a little more.

The right fit – What else should I think about?

We can check out what’s best for you, be it Lifetime ISA’s, auto-enrolment or check how flexible your private pension is? With so much pension flexibility, we can make sure your wealth is passed down to beneficiaries in the most tax efficient way. We can explain your options regarding Trusts, when they can and can’t be used or help mitigate inheritance tax. Writing polices under trust will ensure payments are made to beneficiaries quickly.

Simply get in touch today – call 01603 309020 or email info@investing-ethically.co.uk

We look forward to hearing from you.