We’re Young And Financially Stable – Why Do We Need An IFA?
Lynda Croome is a Chartered Financial Planner and Independent Financial Adviser with over 30 years’ experience. Her first goal is to understand your objectives so that she can work with you to build a financial plan to realise your future vision. In this consultative process she draws out what is important to you, learning about your financial position and priorities to establish and recommend your next move.
With a young couple in their 30s, there was nothing I could do to improve their current pension plans, as they are both benefitting from paying into public sector funds.
However, one of them is also building a side business and wanted to know how to put together a financial plan that would enable them to build up additional retirement funds to allow them to retire early.
By going through the financial planning process, I was able to show the couple what that picture could look like.
Perhaps more importantly for their future financial stability, I also identified that they would face significant hardship if one of them dies prematurely or can’t work due to poor health. With a young child, it was important for the couple to put in place financial protection against the unexpected, and to make Wills.
I advised them on both aspects of ensuring their financial stability, and now we are looking at the most tax-efficient ways to build up wealth through the business, setting them on a path to a more secure financial future.
This is just one example of why it is never too early to start planning your journey towards financial freedom – and how an experienced IFA can help you to anticipate and avoid financial potholes along the way.