THE ACCUMULATION PHASE

 

Mike and Jo run a successful management consultancy. Their children are at a secondary school in a town about 15 miles away and they were finding it increasingly difficult to combine work and the children’s out of school activities, so they decided to sell their house and to purchase another within easy walking distance of the school.

 

Several years previously they had paid off their mortgage and had resolved not to have another. They realised that they would need to make regular savings and had accumulated a number of pensions and investments with different providers.

 

They contacted us for advice about how they could purchase the new property, fund the children’s education and be able to retire with a reasonable income before they were too old to enjoy it.

 

Our first priority was to ascertain exactly what they were trying to achieve and we undertook a lifetime cash flow projection which showed that their goals could be met but only if they kept control of their budget and implemented a plan to achieve their goals. To make it possible for them to purchase the new property we made recommendations about surrendering investments without incurring unnecessary tax charges and consolidated a number of their existing plans into more tax-efficient investments, placing them into a portfolio aligned to their attitudes to risk and requirement for growth during their working lives. Of course we also looked at disaster planning and made recommendations about protection policies as if either Mike or Jo should die or were unable to work because of illness, the impact on their future plans could be catastrophic.

 

Mike and Jo have since purchased a property close to the school and the children are taking full advantage of the school activities. So far, the long-term plan is successful and regular reviews have meant that we are able to work with them to match their investment and pension portfolios with their objectives. Now they can build their business and enjoy family life knowing that they are working towards achievable goals.

Inheritance Tax Planning

Brian and Veronica,

both aged 65 and

retired, initially

contacted us for

Inheritance Tax

advice and to discuss

placing ...

The Spending Phase

Charles and Fiona

approached us

when they were

within two years of

retirement. They

had built up

savings during ...

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