Planning around a major life change

Life changing moments

As well as being a time of major upheaval, significant life changes can also present new opportunities. They allow us to take stock, look at life anew and think about the direction we really want to be going in.

It can be difficult to make rational decisions when you’re going through an emotionally challenging time, which is why it’s so useful to have the support of an experienced team who can provide both sympathy and a considered, independent view to take away any anxiety.

That’s where we come in. We’ll make sure you get the best possible advice at a crucial time in your life.

Whether you’re going through a divorce, bereavement, you’ve inherited money or you are considering a career change, we’ll create a financial strategy and investment approach that’s right for you personally.

 

We’ll start by finding out what really matters to you and what you really want to achieve in life. This helps us to establish and prioritise your values, goals, and your desired lifestyle.

Next we’ll collate your financial information so we have details of all your current assets and liabilities and also any potential future liabilities, income and expenditure too.

Then we’ll show you what your current financial situation looks like and whether you have enough to achieve your goals and objectives. If there’s a shortfall, then we’ll look at ways to address it and if you have excess funds, we may suggest gifts to family or charity to reduce tax.

 

Once we’ve agreed a way forward and implemented your plan for you, we’ll meet to monitor your plan to help you stay on course, pursue any passions and achieve financial security and happiness.

Questions we help you answer:

For those going through a divorce:

  • How do we split our assets?
  • What now happens to my savings and pensions?
  • Do I need to buy a new home and how will I afford it?
  • What’s the future going to look like?
  • Can I maintain my standard of living?

For those recently bereaved:

  • How do I organise my finances?
  • What investments do I have and what do they mean?
  • Will I have enough money to maintain my lifestyle?
  • Can I afford to give money away to my family?
  • Will I be able to afford nursing care in the future?

For those inheriting money:

  • What’s the right thing to do?
  • How does this affect my tax position?
  • How much should I spend and how much should I invest?
  • Where should I invest the money?
  • Can I pass the money on to my family?

For those considering a career change:

  • Can I afford a change in career?
  • How much will I need to earn?
  • How much do I need as a fall back?
  • What would happen if I dipped into my life savings?
  • What shall I do with my pension fund?

Mary’s story

“Whenever I’ve come across finance before it’s seemed impenetrable and intimidating, you meet people who are just trying to sell you things.

That can be very scary, especially if you’re not financially aware, and even more so if you’ve just been through a divorce or something that’s life changing. Talking about your finances can be a very emotional experience.

But it’s completely different with Magenta. They’re not trying to sell you a product – they care about you and your long-term future and they want to do what they can to help you achieve that. So what you discuss is more around your lifestyle and what would make you happy – which might or might not be about material things.”

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