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Mr & Mrs M – Moving Up

Are you living in the whirlwind of family life, with young children and a blossoming career? It can be hard to juggle family finances AND set aside funds for the future. Take a look at how we helped Mr and Mrs M do just that.

 

Meet the M family

Mr and Mrs M are busy juggling a young family.  Mr M, aged 44, has a good job that supports day- to – day family living and Mrs M, aged 37, has taken a career break to focus on bringing up the little ones.

Whilst managing their short-term financial needs, Mr and Mrs M were conscious that they should also be thinking ahead to the future and growing needs of their family. They were also concerned about their reliance on a single income and what would happen if Mr M faced redundancy or illness.

Protecting the family

Our main concern for this young family was to protect them against the loss of income.  Mr M had no benefits of this kind through his employer, so the first thing we did was implement Life Assurance and Income Protection for him.  This gave the couple peace of mind that, should something unthinkable happen, they would have the funds available to continue looking after their family.

Thinking ahead

Like many other young families, Mr & Mrs M spend the majority of their monthly income without any backup for the future. Our cash-flow modelling showed that this wouldn’t leave them enough to fund their future retirement. So, we worked with the couple to help them re-organise their day-to-day finances, freeing up extra cash to put into a long-term savings plan. We made use of all their available allowances, such as ISA and pension contributions, to minimise the tax that would be payable and create a much healthier looking financial position for the couple’ s retirement.

Creating a long-term savings plan also helped solve the issue of how Mr & Mrs M would eventually repay their interest-only mortgage. The couple plans to downsize from their family home in the future, so we showed them how to release the equity when needed.

Family life is something that is very important to us at Mulberry Chartered, so we take great satisfaction from continuing to help this young family protect themselves and their future.

Get sound financial advice to suit your lifestyle.

Contact us today
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66 Hampton Road
Twickenham
TW2 5QB

020 8744 8010

enquire@mulberrychartered.com

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Mulberry Chartered Financial Planners is a trading name of Mulberry Independent Financial Advisers Limited | Authorised and regulated by the Financial Conduct Authority | Registered in England and Wales No. 5973527.Registered office: 66 Hampton Rd, Twickenham, Middlesex, TW2 5QB | T: 020 8744 8010 F: 020 8744 8020 E: enquire@mulberrychartered.com
Past performance is no guide to future performance. The value of investments, and the income from them, can go down as well as up and investors may not get back the amount originally invested.
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