Business Planning for Your Life is a 5 step process:
- Milestone setting: the key events that can be scheduled in the short, medium and long term such as career progression, asset acquisition and disposal, school fees, weddings, long-term care, retirement planning
- Cashflow modelling: the financial context for the milestones, forecasting annual income and expenditure, calculating asset and cash balances, maximising windfall income, maintaining liquidity
- Investment planning: the creation of a portfolio of cash, assets and pensions that balances risk and reward, long term growth and short term accessibility
- Estate planning: the steps that you can take now to maximise the value of the estate for its beneficiaries later including the protection of assets and management of inheritance tax
- Tax planning: doing all the above in the most tax-efficient manner
Like all effective planning, your Life Business Plan needs to be constantly monitored, reviewed and updated. This is done in person at least annually, more frequently if circumstances dictate
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.
The levels and bases of taxation and reliefs from taxation can change at any time. The value of any tax relief depends on individual circumstances.