Today is the right time

We advised our client to delay taking his pension a few years ago, as it had special benefits. We’ve today set up an annuity for him, which is 159% higher than he could buy on the open market.

Why not make an appointment with us TODAY on 01543 440300 to review your finances, and see what we can do to help you?

Have you checked your pensions or savings recently?

With so much going on, it’s easy to simply file those pension and investment statements without a second glance, as surely the provider will be making sure that your nest egg is performing as effectively as possible.

Well, think again. In many circumstances, unless you make a conscious effort to review performance and change your investment strategy, then nothing at all will happen to ensure that your investments strategy is working in the way it was designed.

Why not call or email us for a no-obligation appointment on 01543 440300 or enquiries@acuityfinancial.co.uk

 

The cost of raising a child

In their 13th Annual Report on the yearly cost of a child LV Report that the headline cost of raising a child to 21 is now £231,843 making it more expensive than the average house.

Also included in the report is the cost of childcare and babysitting, which now accounts for a staggering 30% of the total cost.

Whilst none of us likes to dwell on our mortality, perhaps its time to look at the level of life cover that you have in place.

Call us on 01543 440300 or email us on enquiries@acuityfinancial.co.uk to talk about your needs.

Read more here

 

Deadline to the Breadline

Legal and General’s Deadline to the Breadline report shows that on average people could be on the breadline in just 29 days, if they suffered a critical illness, injury or the death of the main breadwinner. This reduces to just 14 days for working age families (18-64 years old).

Read more here

Acuity can help by finding the best cover for you.

Call us on 01543 440300 or email us @ enquiries@acuityfinancial.com

 

The value of timing? Actually about £1,525.

One of our long standing clients approached us for advice as his mortgage product was ending. We reviewed his options, and agreed he would like to take out a 5 year fixed rate. Having reviewed the market we concluded his best option was to take an offer from his existing well known high street lender.

Our client spoke to the lender, and was offered a rate of 2.84%.  A few weeks later we went to apply for this, to find the rate had changed to 3.19%. The client was happy to go ahead with this, but we could see no reason for the change. We therefore suggested he should wait whilst we did a little more digging.

On checking the numbers we found that his loan to value was just under the 80% mark, but on checking the rates we found the rate he was being offered was for loans over 80%. It was possible the lender had changed their recorded property value, but this seemed unlikely.

After much pondering we came up with a possible answer. As the lender charges daily interest, then this is added to the loan every day. This could mean that over the month then he could be pushed over the 80% threshold, and by looking later in the month the products had changed. We therefore suggested waiting until the start of the next month, and then re-apply for the product change.

We did this, and were offered the original rate. By waiting a few days to do the application (which still doesn’t come into effect until the start of next month) we have saved the client £1,525.80 over the next 5 years. There is value in knowledge of maths, and questioning odd answers, and also understanding how bizarre the systems of some product providers are.

Why not call us and make an appointment for a free consultation.

Family Finances – What is the value of a parent ?

Many of us know someone who has died young, or who has had a serious illness, and this can have a massive impact on family finances.

But how many of us have seriously thought about how long we could pay the bills for if we were unable to work.

It is a simple calculation to look at what you have in savings, and to compare this against your monthly spending.  How long would this last?

This does not only apply to wage earners. Legal and General, in their 2015 Value of a Parent survey, value the domestic work a Mum does each year at £29,535.  For Dad’s it’s £21,601.

If as a parent you were unable to cook, clean or look after the children due to an accident or illness would your family be able to cope financially?

Would one income be enough to pay the bills? Or would you have to give up work to become a carer? State benefits are probably a lot less than you think, and would probably not even cover the bills.  If you have a mortgage could you even end up losing your home?

Did you know you may be able to protect your income in the event of accident or sickness for Less than £5 per week.

That’s less than 2 Starbucks coffees, Less than 2 Pints in the pub, Less than a Friday night take away.

As an example:

A 40 year old male, non-smoker, paying £20 per month could receive a tax free income of nearly £865 per month if unable to work due to accident or sickness (subject to underwriting).

This type of income protection cover is also available for manual workers with accident cover included from day 1

So for less than £5 per week you could have peace of mind that your financial situation would be in order leaving you to concentrate on caring for your family.

Contact us today to discuss your protection needs or any other financial matters, an initial meeting is free of charge.

Quote based on a 40 year old male, payment after 3 month deferred period, assuming acceptance at normal rates. Data correct at 12/11/2015.