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Focusing on the future.

30s & 40s.

Helping you make decisions that pay off in the long run. 

 

Sounds like you?

The financial planning that is right for you will be different depending on where you are on life's journey. Does the below sound familiar?

Working hard on your career? Do you have a young family that takes up most of your time? 

Have a few savings plans set up (or none at all), but now you need to prioritise.

Don't miss the boat. It's not too late, but good decisions now will make life a lot easier in the future. 

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Quick Calculator

How Much Do You Need To Save?

The earlier you start the easier you will make it for yourself. But have you ever wondered how much you need to start saving now, to hit your retirement goals?

Age now

Retirement age

Existing pot

Target pot

Requires monthly savings of:

Starting 5 years later increases this to:

could buy you in...

years' time?

Have you considered what...

But...

Please note: This calculator is intended to provide an insight only. It is not a personalised recommendation, and should not be relied upon to make any financial decisions. It is based on various assumptions, including growth rates which cannot be guaranteed.

We have chosen some key topics for people who are focusing on the future...

 

Savings & ISAs.

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Have you thought about...

WHERE SHOULD YOU PUT YOUR SAVINGS?

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Did you know...

 

Pension contributions receive a tax ‘bonus’...

 

...but you can’t access it until retirement.

 

Investment ISAs grow tax-free, but annual contributions have a limit.

 

Venture Capital Trusts (VCT) investments can receive up to 30% tax relief, but they are high risk.

Deciding where to save is not always straightforward.

 

We can help you make sure your existing and future savings are channelled into the right places.

Image by Kara Eads

WHICH ISA IS RIGHT FOR YOU?

There are different types of ISAs...

 

> Cash ISAs 

> Stocks & Shares ISAs 

> Lifetime ISAs 

> Help-to-Buy ISAs 

> Innovative Finance ISAs 

 

Before you can decide which is right for you, you need to know the pros and cons of each one.

We can help you understand your options, what allowances are available to you and ensure your savings are being channelled into the right places.  

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HOW MUCH SHOULD YOU BE SAVING?

Ask Yourself...

 

Are your resources being stretched? Do you find it difficult to decide what you could do without?

 

Do you want to know how you can live well today whilst also investing in your future?

Developing a good saving habit is vital for your financial health and budgeting wisely doesn’t have to be difficult.

 

We take the time to understand your priorities and recommend the changes required to achieve the right balance between saving and spending.

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CAN YOU GET A BETTER RETURN THAN A CASH ISA?

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Most ISAs commonly available on the high street are cash accounts – and very low risk. 

 

If you are prepared to take more risk, you can increase the chance of making more money.  

 

You can hold investments within an ISA which means you benefit from tax free growth. 

Annual returns have been*: 

 

> 3.5%    Cautious Risk  

> 4.2%    Moderate Risk  

> 5.3%    Adventurous Risk  

 

But past performance is not a guide to future returns.

* Sector average over 20 years to 2019.

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HOW DO YOU KNOW WHAT A GOOD INVESTMENT RETURN IS?

Ask yourself:

 

Which investment is better?

A. 6% Growth

B. 6% Growth

 

Not all investments are the same – even if they look as if they are.  The difference?  It’s all in the ‘risk’.

 

The investment that has taken the least amount of risk is the best.

 

Our concern is when we hear, “I am making money, so I am happy.”

Risk appraisal is a complex area, but we have the tools and expertise to identify whether your investments are producing a ‘good’ return.

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Not your life stage?

 

Pensions.

Young urban businessman professional on

More things to think about...

ARE YOU MAKING USE OF ALL YOUR TAX ALLOWANCES?

Did you know...

 

"Tax relief = free money"

 

Someone earning £90k could contribute £32k to a pension and be £16k better off the next day.

 

Regularly using your ISA allowances can result in having your life savings in a completely tax-free account.

 

“ISA millionaires” are becoming more common. No tax on growth or income.

Tax incentives change every year. Current opportunities may not be available next year, so don’t miss out.

 

Call us now to discuss how investing tax efficiently could mean you gain thousands of pounds of ‘free’ money, you wouldn’t have had otherwise.

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ARE YOUR OLD PENSIONS ANY GOOD?

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Ask yourself: 

 

Do you know where all your pensions are?  

 

How much growth did they make last year?  

 

How much risk are they taking? 

 

What are the associated charges? 

 

If you don’t know the answer to these, you should take a closer look. 

Not all pensions are the same.  

 

For expert help reviewing your pensions, get in touch, and we will clarify what you have and whether they’re right for you. 

CAN YOU TRANSFER YOUR OLD PENSIONS?

Did you know...

 

Transferring your pension yourself is often difficult.   

 

Whilst consolidating old pensions could be in your best interest. The decision to transfer a pension could turn out to be an irreversible mistake.  

 

Some pensions can have complex features and very valuable benefits. So, you may want to think twice.  

We will do all the checks and balances for you, to see whether transferring is a good idea. 

 

If it is, we also do the heavy lifting, so you don’t have to.  

 

Let our pension experts guide you to ensure you make the right decision.   

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CAN YOU CONTRIBUTE TO A PENSION?

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You can contribute up to £40,000 per annum (pa) into a pension.

 

You get tax-relief on the way, tax-free gains and income. Pensions are even more tax efficient than ISAs.

Unused allowances may be available to be carried forward for future years.  

 

However, pension contributions can be limited to earnings, and for higher earners limits can be reduced to as little as £4,000 pa. 

These rules are always changing and are not widely understood. It’s no surprise that many people end up with a surprise tax bill.  

 

If you are thinking of topping up your pension, get in touch with us for help with navigating these complex rules. 

 

Cashflow.

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Other things to consider...

HOW CAN YOU TELL WHETHER YOU ARE ON TRACK?

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Ask Yourself:

 

Are you worried about whether you will have enough money to live the life you want now and in future?

 

Would you like to see how much money you need at each stage of your life?

 

Would you like to know what steps you can take to ensure a comfortable future?

For most people, planning for the future is daunting – but it needn’t be.

 

Schofield’s ‘Cashflow’ gives you clarity of your current position and an insight into your future.

 

Talk to us today about how we can transform the way you spend, save and plan your life.

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HOW CAN YOU STAY ON TOP OF YOUR MONEY?

Ask yourself...

 

Do you have the time, energy and skills to manage your money all by yourself?

 

Are you confident you are making the right decisions?

 

Chances are, like most people, you would prefer to spend your time and effort on other more enjoyable things. 

Get in touch to free up more of your time and ensure you make smart decisions with your money.

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Image by Amanda Dalbjörn

WHEN CAN YOU STOP WORKING?

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Did you know...

 

Most people think they have to work longer than they actually do. 

 

This is the most common and most important problem we help to solve.  

 

£166 per month of inflation linked pension income for life could cost a 60-year-old £100,000. * 

  

*male, non smoker w/ 50% spouses pension.  

Using Cashflow software we will give you clarity over your future.  

 

We can show you how much income your assets can provide you in retirement. 

 

Get in touch if you would like to feel confident about tomorrow whilst enjoying today. 

HOW MUCH IS ENOUGH?

Ask yourself: 

 

Have you ever wondered how much money you really need? 

 
Would you like to ensure that your income and nest egg can pay for today and tomorrow? 

 

Would you like to make sure that you don’t end up working longer than you need to? 

Our aim is to give you the confidence and assurance to make that decision to say “I have everything I need to live the life I want”.  

 

Get in touch so we can work out how much you are going to need to retire and help you put a workable plan in place to make it happen.   

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Gold coin vertically aligned in the grow
 

Insurance.

Mountain Biking by the Lake

And lastly, have you thought about...

WHAT LIFE INSURANCE CAN YOU GET ON A BUDGET?

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Did you know...

 

Paying £25 per month could cover a 30-year-old for:

 

  • £1,000,000 on death until age 60, or

 

  • £100,000 per year on death until age 48, or

 

  • £2,100 per month to age 65, if unable to work.

 

It is not always as expensive as you think. Afterall - £25 per month is probably less than your phone bill.

 

We work out what policy is right for you and do all the paperwork and admin.

 

Call us now to find out just how little life insurance can cost you whilst protecting you and your loved ones.

*assumes male, non-smoker.

Image by Alex Presa

YOUNG FAMILY - WHAT HAVE YOU NOT THOUGHT OF?

Did you know...

 

Filling out just 1 form now could ensure your family gets ALL your pension when you die.

 

Your children have their own ISA allowances. They can also get a £720 per year bonus from the government with a pension.

 

A 30-year-old could pay £7 per month to insure a £20,000 family income for 20 years.*

 

These are just a few of the things to think about.

 

Have you crossed all the t’s and dotted all the i’s to make sure you and your family are secure?

 

To find out how much your peace of mind costs, please get in touch today.

*assumes male, non-smoker

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WHY DO YOU NEED TO INSURE YOURSELF?

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Ask yourself:

 

Would your family be able to pay the bills if you weren’t around?

 

How different would your life be with no money coming in, if you were unable to work?

 

Statutory sick pay is less than £100 per week and is payable for a maximum of 28 weeks. Is this enough for you?

Don’t leave your family’s future to chance. How much is peace of mind worth to you and your family?

 

Get in touch to find out what life insurance is right for you.

IS YOUR LIFE INSURANCE GOOD VALUE?

Did you know...

 

The ‘quality’ and ‘value for money’ of life insurance varies from one provider to another.

 

Not all critical illness / health insurances cover the same illnesses and injuries. 

 

When people need to make a claim, their cover is often not what they thought it was. 

We can review your existing insurance policies and let you know if they represent good value. 

 

Get in touch today to find out what insurance is right for you. 

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IS YOUR LIFE INSURANCE RIGHT FOR YOU?

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Ask yourself: 

 

Do you have insurance that has just always been there? 

 

Have you forgotten the reason it was taken out and what the benefits are? 

 

Most people don’t know what life cover they need, so they guess.   

 

If this sounds like you, it is worth taking a closer look. 

We can accurately calculate exactly what insurance you need. 

 

Get in touch so we can review your existing policies and check that they are right for you.  

Young Family
Happy Family

HAPPY MONEY HAPPY ME