It is important to plan for the long run, and that is exactly what we do with our financial plan for each of our clients. We ensure that you are prepared financially at any stage, or age, of your life.
There’s a lot written about inheritance tax (IHT) planning and much of it is useful and reasonable. There are clever schemes that involve gifting money, investing in particular share classes that qualify for certain reliefs, complicated products from life companies, and a plethora of different trust arrangements available directly from Solicitors. However, although these schemes work, before you engage in them you should firstly consider more simple solutions, some of which I have set out below.
“We are exhausted, fed up and would retire tomorrow if we thought we could afford to“.
This was pretty much the first sentence in a conversation I had some years ago with new clients who ran a business which demanded all of their time, with very little respite. Both in their early 60s and having worked every day for the previous 30 years, they were both pretty much at the end of their tethers.
Throughout life we grow up hearing about the importance of setting goals. Right from being children we are encouraged to select study options for future career ambitions, which we may grow to not desire. Goals are evidenced in all the choices we make, whether it be supporting our children to establish themselves, choosing the right house type and location to call home, picking a vehicle to drive, positioning a business for sale and even to planning for retirement. The list goes on!
Dave and Carol have always wished to change careers or semi retire at 55. Both are qualified Doctors working in the NHS: Dave as an anaesthetist, and Carol having worked in General Practice, psychiatric primary care and Occupational Medicine. They have lived in North Yorkshire for over 20 years and approached Manse Capital fifteen years ago to help them achieve a number of lifestyle objectives.