Advice for over 40’s

Throughout our many years of helping clients with their finances there are a number of ‘ age related’ questions we have been asked on a regular basis. We strongly believe there is no question too small. They are all relevant…and if they are relevant to you they are important to us and our ability to help you. We have therefore categorised a few of the most common questions which we hope you find helpful.

However, if you are anxious or confused about your financial future feel free to book a free consultation here.

Every decision you make with finances is a balance between instant benefit and a future which is unknown.  Life can throw us curveballs and we need to be prepared so having a conversation about what is important can help to make those decisions a little easier.  Writing down what you want to achieve in life would be a good starting point.  With a long list of dreams and achievements you can then put a price on them and make a start on your finance plan.  Having a written plan can help you stay on track and we can help with that.

If you are in your 40’s then you can be fairly confident you will receive a small State Pension however compared to your current income this will be like a significant pay cut. Setting aside a small proportion of your earnings can accumulate a reasonable fund later in life. We have the software to be able to calculate how much you need to put in every month to generate your desired income as a proportion of your current earnings to help you make those decisions.

In your 40’s you still have plenty of time to make back any losses from taking investment risk, however you still need to be comfortable with the likely swings in returns you may experience. We can show you what ‘risk’ looks like over the time period you are considering and help you decide how much risk is enough.

Having worked for someone else for perhaps 20 years you may have decided to take the plunge yourself. Those early decisions can have a big impact later on, with the status as a Limited Company, Partnership or as a Sole Trader, can have impact on the tax you pay and the control you have. With clients with a variety of small and medium sized businesses we can share their experiences and guide you to the right decision.

With more and more focus on our impact on the environment you may wish to consider the impact of the companies you invest in as well.  Investment funds use the UN Sustainability Goals to assist in their investment decisions and we include these in our portfolios.