BGFS Associates

Which of these areas of financial planning is the most important to you today? And why?

• Being able to fund your children’s future education, without the need for finance?
• Being able to pay the regular bills when you are too ill to work?
• Guaranteeing that your family’s living standards and aims can be maintained or achieved, in the event of you or your partners early death?
• Having a capital fund to meet personal or family needs, should you suffer a critical illness or permanent disability? e.g. Heart attack, stroke, invasive cancer.
• Purchasing a new home when you repatriate
• Having sufficient income to be able to enjoy your retirement.
• Having sufficient capital to enable early retirement.
• Minimising tax liabilities.
• Saving some of your regular earnings within a tax-free environment.
• Better growth on existing savings.
• Minimising death duties.
• Estate distribution.
• Creation of income for third party.

After identifying areas of need it’s important to clearly consider the consequences of not taking action to resolve the matter. Example. If retirement was identified as the priority, what financial difficulties would be experienced at retirement age if insufficient income was available?