01462458863 enquiries@handefs.co.uk

Financial life stages

At Herts & Essex Financial Services you, your business and your family’s financial security is our mission… Now and in the future!

None of us know what the future holds. Let us help you be prepared for any financial eventuality.

We can help you over the financial hurdles that present themselves at the three financial life stages and make your journey through life that bit smoother.

Stage One - Building a Financial Foundation

  • Young adults face the task of learning how to manage spending and saving within the constraint of their income level. Developing sound financial habits is critical. Here are some issues to consider.
  • Learn how you are spending your money to identify ways to save. Prepare a household budget.
  • Use a wise borrowing strategy. Borrow for things that provide long-term value. Control the use of credit cards.
  • Establish a saving pattern. Consider an automatic savings program so that some amount is deposited into a savings account each pay-day.
  • Set some savings goals. Whether it is accumulating a deposit for a home, paying for a car or saving for a holiday, connecting a tangible goal with their saving can provide the motivation and discipline they need to save.
  • Make sure you have adequate insurance.
  • Take advantage of employee benefit plans at work.

Stage Two - During Your Prime Earning Years

  • This is often a time when your income is rising as well as expenses. Nicer homes, nicer cars and children can easily consume your increasing income. This is also the time when the financial decisions you make will have the greatest impact on the financial lifestyle you will enjoy during retirement. By now, you should have developed some savings and the expertise to make sound choices.
  • Start early to save for children's university fees and/or private education. Consider using Individual Savings Accounts (ISA’s) to get additional tax advantages with the university fees planning.
  • Take full advantage of employer offered retirement plans. If you have a stakeholder plan available, contribute as much as you can or at least enough to get the full employer matching contribution.
  • Invest wisely. Consider an asset allocation strategy that matches your time horizon and risk tolerance. Don't ignore the potential long-term returns of equities, but do your homework or rely on a qualified advisor.
  • Be sure your insurance protection has kept pace with your needs. Having adequate life insurance to protect your family, in case of your untimely death, is critical.
  • Prepare an estate plan to minimise taxes and to ensure that your custodial, financial and medical wishes are carried out.

Stage Three - Nearing or During Retirement

  • These years can and should be some of the most enjoyable and fulfilling times of your life. If children and grandchildren are part of your life, having the financial ability to help them can be rewarding. A successful career, the freedom to live the retirement lifestyle of choice and a sense of satisfaction with what you have accomplished can make your "golden" years truly enjoyable. However, there are still financial issues that should be addressed.
  • Be sure your long term care provisions are adequate. The costs of nursing care continue to rise and we are living longer. Private medical and private health insurance will all be important.
  • Be sure your estate plan is up to date. Changes in your financial situation, moving to a different house or county and changes in your family should all be triggers for reviewing your estate plan with a qualified estate planning adviser.
  • Continue to manage your investments carefully. If you are using an advisor or stockbroker, be sure to fully understand their recommendations before accepting them.

Herts & Essex Financial Services can assist you with a financial plan

to address all of these issues; we offer you the benefit of:

  • More than 32 year’s experience in guiding our clients through the financial minefield.
  • Expert advice in all areas of business and personal financial planning
  • Fully independent advice based on your individual needs – we work for you – not for a bank or product provider.
  • A personal service – we can arrange to meet you at our offices, or at your home or place of work if you prefer.

And to back this all up we have completely modernised our research and support systems to offer you the best on-going service available.

In short we offer a comprehensive package of services centered on protecting and enhancing your financial wellbeing.

To find out more – take our ‘Financial Health Check’. Now is the time to take control of your finances (we will even meet the cost of our first meeting).

Don’t leave the financial security of you and your business or loved ones to chance – act now!