Raising a Family

Financial advice for people raising a family

Family protection

Saving and budgeting

A plan for the future

Raising your own family can be enriching and joyful. Undeniably life changing. But it’s not all smiles and birthday cakes; often it’s a complex juggle and brings common concerns and issues. We all want to do right by our kids, to protect and provide, whilst trying not to forget who we are as individuals.

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Five of the most common concerns for those raising a family

ISSUE 1

I'm paying a lot of tax and don't qualify for childcare support

You want to maximise the amount of income you have to provide for your family and yourself. High earners can pay up to 60% tax on some of their income and lose access to support with childcare costs. We explore various tax reduction strategies according to employment status. If you're employed we could divert money into pensions via salary sacrifice, tipping you back under thresholds for childcare support. If you’re a business owner we could consider sharing income between spouses. There are options, whatever your situation.

ISSUE 2

Will my family be ok if something happens to me?

Statistically unlikely but parents do get ill, they do die. We can help ease the fears around this challenging issue. We can review your current provision; use financial modelling to work out exactly how much protection will enable your family to flourish in your absence or incapacity. We identify the highest quality protection solution in a saturated market; address who will take care of your kids in your absence and make sure they have the money to do a good job without you.

ISSUE 3

How do I give my kids the best start?

You know what is best for your children in terms of their environment, schooling and extra curricular activities. We'll help prioritise your aspirations and use financial modelling to build a bespoke financial plan which enables you to give them the best. Planning for their longer term financial future can be achieved by utilising their available ISA and pension allowances; leveraging long term investment horizons to give optimal exposure to upward market trends and by devising savings strategies.

ISSUE 4

How can I help my kids as they get older?

You want to see them through university, support them during an internship, help them onto the property ladder. We can use sophisticated cash flow planning to assess how much you can afford to give them whilst ensuring your own financial future. We can help set up long term savings or investments for them in nominated accounts or trusts. If appropriate, we can explore parental loan agreements or pre-funding inheritance and ensure changes are reflected in your will.

ISSUE 5

How do I get more quality time with my kids?

By the time our kids are age 12 it’s estimated that we've already enjoyed 75% of the total time we will ever spend with them. How can you maximise the window of time you have with yours while considering your financial future? Using cash flow tools we can assess the impact of you cutting back working hours, working more flexibly, taking a career break, giving up work altogether or taking any other approach that you'd like to explore.

Check you're doing all you can to secure your family's financial future

We have compiled a comprehensive Family Action Checklist with 10 zero-cost, actionable steps you can take to help your family

“Two things I would choose to have as a parent, the first would be the reassurance that my family will always be ok, and the second would be 7 hours of unbroken sleep every night.”

Kim

Chartered Financial Planner LLB, FPFS, TEP

Your next steps

What happens when you contact us?

Step 1

Listen

We chat, initially on the phone and then either face to face, or via Teams or Zoom.

It’s our chance to get to know each other and decide whether we’re a good fit.

Step 2

Understand

Using cutting edge technology, you’ll get a visual representation of your current financial landscape and future plans.

Step 3

Strategise

You get a bespoke financial strategy which mitigates any problems and optimises your financial future.

We plan to secure a solid financial foundation enabling you to build the life you want.

Step 4

Execution

Implementation of the strategy, using a raft of possible tactics. We’ll look after everything, giving you complete peace of mind over your financial plan, so you can get on with living.

FAQ

Your questions answered

We’re here to help with any questions or doubts you might have

I'm not the finance person in our relationship. Does this matter?

It's really common that one person in a couple takes the lead on finances and might be more knowledgeable than the other. This is a situation we're really used to. Working with both of you together, we view you as equally important and make sure we're all on the same page throughout. We tailor our explanation and information to wherever someone is at in terms of their understanding and knowledge.

My partner and I keep our finances separate, how can you still help?

Depending on your situation, how comfortable you are sharing your financial situation with each other, we can still work with you as a couple or alternatively we can work with you individually. We're comfortable with either approach. In a way, getting financial guidance and support is even more crucial because you need to look out for your own financial future.

I want to work with you but my partner isn't currently interested, how does this work?

Of course ideally both partners would to be fully engaged but we understand this isn't always the case. Our goal is to provide support and guidance that empowers you to make informed financial decisions, whether your partner is actively involved or not. We can try to address barriers to engagement and often, over time, when the other party starts to see the value we offer we see their reluctance thaw and they get on board.

I'm concerned about how having children will impact our financial stability. How can you help us prepare?

Preparing for the financial impact of parenthood is a wise step in securing your family's future. We can work with you to assess your current financial situation, identify potential challenges, and develop a plan to help you navigate the expenses associated with raising children.

How do you charge?

Our fees are based on the complexity of your situation and the scope of work we agree. We undertake a fair value assessment before engaging with a new client. Our fair value guarantee means that our fees will always be fair, proportionate and offer excellent value or we won't work with you.

Life is short. Get after it.

Book a zero cost conversation with a financial planning specialist

Raising a Family

Financial advice for people raising a family

Five of the most common concerns for those raising a family

Check you're doing all you can to secure your family's financial future

What happens when you contact us?

Your questions answered

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