Thinking Ahead

Starting a family means that your priorities instantly change…and that lasts from when they first arrive into your life right up until they have children of their own and beyond.

Children, along with copious amounts of joy and happiness, also bring with them a whole host of expenses – and at the beginning (or for longer), these may need to be managed on one income instead of the two you are perhaps used to.

Childcare costs, family holidays, a family car, school fees, hobbies, and university fees to name but a few, along with potentially up-sizing to a bigger property to accommodate your growing family’s needs…all require money you haven’t had to spend or budget for before.

Having a family also means that you need to think ahead…if you or your partner/spouse lost their job or were off on long-term sickness due to an accident or critical illness, could your family survive on one income? Have you made the appropriate provisions for school fees and your family’s future? What do you want for your children and does that mean your plan might need to change? Is Financial Wellbeing and security a far-off dream?

There is always lots to think about but taking action and speaking to us can help with the juggling act that is parenthood, along with the peace of mind that you have ticked some things off your never-ending to-do list!

Mortgages

Are you thinking of upsizing or has your growing family forced you to look for a bigger property? Or if staying put, we can also help with re-mortgaging to release capital to help increase the size of your property with an extension?

Your home or other property may be repossessed if you do not keep up repayments on your mortgage.

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Life Cover

If the worst were to happen, would the surviving spouse or partner be able to continue the current standard of living? Would the school fees, holidays, childcare, university fees still be affordable without the deceased loved one’s income?

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Critical Illness

What position would you want to be in? If a critical illness was to hit your family, would you want the mortgage paid off rather than potentially having to sell the family home because the family’s income has dropped?

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Income Protection

Could your family survive on just one parent’s income?

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Buy-to-let Mortgages

Do you have or are you thinking about a Buy-to-Let investment property to act as an additional income stream to help subsidise future school or university fees? Perhaps if you are upsizing you want to keep your current property and rent it out for further income?

Your home or other property may be repossessed if you do not keep up repayments on your mortgage.

Please note that most buy-to-let mortgages are not regulated by the Financial Conduct Authority.

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Savings

Have you given any thought to what the future brings?  How much savings do you have currently…perhaps your lack of savings is a cause for concern for you?  Are you aware of the accounts available for children e.g. Junior ISA’s, Pensions for Children and Investment Bonds that can be gifted to children at an age you deem appropriate. There are lots of options to make the most of your money and make it go further.

The value of an investment with St. James’s Place will be directly linked to the performance of the funds selected and may fall as well as rise.  You may get back less than the amount invested.

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Pensions

Have you got a good solid pension pot and how can you balance saving for retirement without sacrificing today’s priorities and goals?  Perhaps your children will have children…being a Grandparent these days can be just as expensive as being a parent! Have you given thought to how much money you will need in retirement to live the life you want to?

The value of a pension with St. James’s Place will be directly linked to the performance of the funds you select and the value can therefore go down as well as up.  You may get back less than you invested.

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Investments

Have you given any thought to investing aiming to produce regular sums from investments, for example for school fees planning or to supplement your retirement?

The value of an investment with St. James’s Place will be directly linked to the performance of the funds you select and the value can therefore go down as well as up.  You may get back less than you invested.

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TAKE OUR QUESTIONNAIRE

& UNDERSTAND WHERE YOU ARE ON YOUR JOURNEY TO FINANCIAL WELLBEING

WHAT’S IN IT FOR YOU?

Financial Wellbeing is within reach – with the right knowledge you can build a plan, tailored to your individual circumstances. Understanding what plans you already have in place plus identifying any gaps that need attention, can help set a course for making progress towards reaching your financial goals, aspirations and dreams amidst uncertain times.

WHAT’S IN IT FOR US?

We are passionate about what we do; helping people achieve their financial goals, aspirations and dreams, giving them peace of mind and allowing them to live and love life. So, we are asking as many people as possible to fill in our carefully created 5-minute questionnaire as honestly as possible. We want to anonymously use the data and insights we collect to form a bigger picture of what areas are the biggest concern for different age groups and demographics.

To take our financial wellbeing questionnaire, simply click on the button below.

Take Our Questionnaire
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Contact Us

18-22 Melville Street
Edinburgh
EH3 7NS

Telephone

0131 385 7477

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We would love to hear from you to see how we could help.

Please fill out the contact form below and a member of our team will be in touch soon.

PW& Partners Ltd together with St. James’s Place Wealth Management plc are the data controllers of any personal data you provide to us. For further information on our uses of your personal data, please see the Privacy Policy or the St. James’s Place Privacy Policy.

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Sent every few months, this newsletter shares relevant information, insights and local experts with you to help support your overall wellbeing - the financial aspect of that being just one element. We also work with small local wellbeing businesses to bring you bespoke client offers on their products/services.

Sent when we have something to share, our Business Edit will contain updates on the industry, helpful insights on the services we offer, important reminders, upcoming events, news about our business and/or team and any other good news we want to shout about!

PW& Partners Ltd together with St. James’s Place Wealth Management plc are the data controllers of any personal data you provide to us. For further information on our uses of your personal data, please see the Privacy Policy or the St. James’s Place Privacy Policy.