Young Families

Andrew & Fiona’s Experience

Andrew & Fiona were both working whilst raising a young family. Due to the cost of childcare their outgoings were high, yet their income was not yet at its peak. With much of their family income needed to cover their living expenditure they were worried about the impact of one of them being ill and unable to work. 

With a young family it was vital to protect Andrew & Fiona should the unexpected happen. We reviewed their existing work benefits packages, highlighted the shortfall in cover and made recommendations to address the shortfall. We discussed the impact to their family should there be a loss of income, or if the worst were to happen to either Andrew or Fiona. Having seen the significant impact illness had on a close friend’s family, they both wanted the peace of mind that the additional protection would provide, ensuring their children would be catered for. 

Andrew & Fiona had also built up some savings before they had children and wanted to be certain that they are working as hard as possible. To achieve this, we assessed their current position and made recommendations to help them achieve their goals including school fees planning for future private education.

We also worked with Andrew & Fiona on their longer-term goals. This included assessing their retirement provision to establish whether they are on track to achieve the lifestyle they aspired to live in retirement. We established there was a shortfall and recommended additional pension contributions, which were highly tax efficient as they enabled the family to claim child benefit, which they were previously not eligible for.