Life Stages

The earlier you start planning and saving, the better prepared you will be to reach your goals in life. Every stage of you life will focus on different financial matters. Our advisers provide you with reassurances, practical help and guidance to help you make the right financial decisions at the right time.

Call us now and one of our Wealth Planning Advisers will be happy to help or Arrange a call back and we will call you.

Financial advice for all stages in life

To help you we have provided this “Life Stages” section, which takes you through the main events in life from birth onwards, and highlighting particular financial matters which you might find useful to consider at each stage of life. If at any time you are still confused, just call us – we’re here to offer independent financial advice to suit your circumstances.

Stage 1 – Protection phase (age 25-35)

This is the stage where you land a job and start developing your spending habits. This is also the stage where lots of people get into financial stress because of debt. Primarily, this is the stage where you should be writing your financial plan. Start building that emergency fund which will help you during any unexpected happening like a job loss. Understand and allocate your savings for long-term investments. This way your money will work for you. Start contributing in long-term savings. Insure yourself through life and health insurance.

Once married, your concern is your family. What if something happens and the income stops? Take a suitable income protection cover so that, after you, the family lifestyle does not suffer.

Stage 2 – Accumulation Phase (age 35-50)

This is the stage where your income has increased and so has the lifestyle. Along with it, responsibilities have also increased. You are more concerned about your family and children because you probably run debts in the form of a home loan and a car loan. At this stage, you may look at saving for your children’s future – for school or University. You may be starting to repay your debts and reduce your mortgage, and will therefore maximise your accumulation.

You should take adequate health insurance to cover yourself and the family from that unexpected risk. Any unforeseen happenings can snatch-away the lifestyle your family has been accustomed to. You are now at a wealth building stage. Keep your investments in growth Assets which deliver maximum returns in the long term. Re-evaluate your strategies, if required.

Stage 3 – Decumulation Phase (Age 50-65)

This is the stage when your family is becoming independent. Your earnings are at their peak and you are approaching retirement. You are preparing to distribute your wealth among your family. Try to pay off all your debts prior to your retirement. You would not like to service any debt post retirement. Check your asset allocation. Since post retirement you may not have a regular income, start evaluating your options. Review your investments to ensure they give you the benefits you have desired for. Remember, living longer is also a risk, if not planned well. Thus, it’s necessary that post-retirement, you choose the options very wisely. and plan for possible care options.

Call us now and one of our Wealth Planning Advisers will be happy to help or Arrange a call back and we will call you.

Wealth Planning Advisers

David Andrews

Wealth Planning Adviser

Craig Annan

Wealth Planning Adviser

Paul Bain

Wealth Planning Adviser

Ashley Bell

Wealth Planning Adviser

Mike Bell

Wealth Planning Adviser

Daniel Coburn

Wealth Planning Adviser

Terry Davies

Wealth Planning Adviser

Lucy Davison

Wealth Planning Adviser

Derek Dryden

Wealth Planning Adviser

James Downing

Wealth Planning Adviser

Alison Harrison

Wealth Planning Adviser

Daniel Haley

Wealth Planning Adviser

Lee Jacobs

Wealth Planning Adviser

Robin Joyner

Wealth Planning Adviser

Jay Lopian

Wealth Planning Adviser

Douglas Macnaught

Wealth Planning Adviser

Mark Mann

Wealth Planning Adviser

Tim Mason

Wealth Planning Adviser

Anthony Posner

Wealth Planning Adviser

Robert Rackliffe

Wealth Planning Adviser & Director

Andrea Purdie

Wealth Planning Adviser

Donna Read

Wealth Planning Adviser

Paul Reeves

Wealth Planning Adviser

Sandra Sanderson

Wealth Planning Adviser

Darren Smith

Wealth Planning Adviser

Alan Sneddon

New Business Wealth Planning Adviser

Elaine Snow

Wealth Planning Adviser

David Walton

Wealth Planning Adviser

Michael Walton

Wealth Planning Adviser

David Weston

Wealth Planning Adviser

Henrietta Winstanley

Wealth Planning Adviser

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Regulatory Statement

Gale and Phillipson Investment Services Ltd, Gale and Phillipson Advisory Services Ltd, Gale and Phillipson General Financial Services Ltd and Gale and Phillipson (SE London) Ltd are all authorised and regulated by the Financial Conduct Authority (Reference Numbers 431387, 142752, 195080, 195522).  Gale and Phillipson (Herts) Ltd and Gale and Phillipson Consulting Ltd are appointed representatives of Gale and Phillipson Advisory Services Ltd.  Gale and Phillipson (Surrey) Ltd is an appointed representative of Gale and Phillipson Investment Services Ltd. (Reference Numbers 615821, 811525, 703337). All companies trade under the name Gale and Phillipson and are registered in England and Wales numbers 05409822, 02232959, 03751076, 04077157, 08864945 and 04823391.  Registered office for all companies is Gallowfields House, Fairfield Way, Richmond, DL10 4TB.