How we helped Claire get her financial well-being back on track

In these challenging times we are all facing growing demands on our time and energy, which can have knock-on implications for our finances. Taking financial advice now can make the difference between just about managing and having a more comfortable life and in due course enjoying the retirement you deserve.

Take Claire, a 48-year-old supermarket employee from Bristol. She works full-time and has two children at school. In addition to being a parent, she also spends time looking after her ageing mother who is in the early stages of dementia. Claire earns enough to cover her monthly outgoings, but not much is left at the end of the month, especially now she is unable to work overtime due to her increased caring responsibilities.

Prioritising you

“With increasing demands on my time, energy and money, I‘ve been struggling to think about my finances. I’ve been concerned that I don’t have life insurance and I haven’t really thought about retirement or reviewing my mortgage. Meeting my adviser, Tom, set me on the right path. He assessed my finances and helped me set realistic financial goals, enabling me to feel in control. Taking out financial protection was much more affordable than I expected. My policies cover death and critical illness, and provide an income if I’m unable to work, protecting my mortgage payments. Having them immediately gave me peace of mind in these uncertain times.”

TIP

With family members young and old depending on your support, it’s vital to have the right sort of protection policies so if an unexpected event occurs, a policy would pay out to help ease the financial burden.

Mortgage savings

“Tom checked my mortgage; I hadn’t realised that the rate I was on wasn’t very competitive. As my fixed term came to an end a while ago, I was able to switch to a better rate. The savings I’ve made have enabled me to top up my savings each month, pay the protection premiums and top up my pension.”

Retirement reality

“As far as my retirement is concerned, I have a pension with my current employer to which I contribute. I also have pensions from previous employers but didn’t know what these were invested in and how much they were worth. Tom found out their value and whether they were invested in a way that is suitable for me. He talked me through the types of pensions I have – I now understand the differences between defined benefit and defined contribution schemes. I know how much my pensions are worth and the importance of paying in more when I can, so I can enjoy a more comfortable retirement.”

TIP

Even if it seems like years away, you need to save for your retirement, so find out about your pension. It’s important to know how much it’s likely to be worth, so that you can make plans to save more if you need to.

We can help

In these challenging times we are all facing growing demands on our time and energy, which can have knock-on implications for our finances. Taking financial advice now can make the difference between just about managing and having a more comfortable life and in due course enjoying the retirement you deserve.

Book a no obligation initial telephone consultation

To book a financial review (which will be conducted over the phone) with one of our professional financial advisers call 08000 85 85 90, email appointments@lighthousefa.co.uk or contact your usual Lighthouse Financial Adviser.

 

The initial consultation is designed to discover whether or not you would benefit from financial advice and there is no obligation on either side to proceed further. Any advice related fees will be clarified with you before any commitment to proceed.

* We have changed real names and other details to preserve anonymity. All financial details reflect the circumstances.

The value of your investments, and the income you receive from them, can go down as well as up, so you could get back less than you put in. A pension is a long-term investment and inflation will reduce how much your income is worth over the years. Your eventual income may depend upon the size of the fund at retirement, future interest rates and tax legislation. As a mortgage is secured against your home or property, it could be repossessed if you do not keep up mortgage repayments.