Financial planning is particularly important during times of transition when stress and anxiety can be high and can affect decision-making. Examples of this include:
Retirement planning – issues to think about here include how long until you stop working, whether you’ll stop completely and how you’ll manage your time when you do stop. Generally speaking, the further in advance you plan for your retirement, the better.
Business planning – How do you make sure your business is successful? Considerations here include deciding how to get assets from the business into your name if you’re the owner, ensuring your employees are looked after and planning for your exit and succession.
Estate planning – This usually revolves around inter-generational passing of wealth to children or grandchildren and mitigation of inheritance tax, where appropriate.
Divorce planning – If you’re going through a divorce you may need to consider your options after a settlement, for example a property or an asset. At First Wealth, we are often involved before the divorce goes through, but we can help at any stage.