Quinlan Financial Planning

Savings and investments are different but complementary ways of funding your future.

Cash savings are ideal for a rainy-day fund or to pay for a short-term goal. Investments are for the long term and will require more risk.

Creating the right balance between saving and investing is the heart of a well-balanced financial plan. We’re here to help you work out the right mix for you so you can achieve your goals.

When we talk about saving and investing, we generally think of them as the two main ways to set money aside for the future. It can be easy to confuse them as one and the same thing – or think that you should opt for one or the other.
In fact, they’re two quite distinct options that you have for aiming to grow your money for your future. The first step to understanding the difference is to ask yourself a series of questions, including:

🏹 How much should or could I put aside?
🏹How soon might I need it?
🏹Where should I put it?
🏹What do I want that money to do for me and my family?

By answering those questions first, you’ll be able to decide how much of your money you should be saving, and how much you might want to invest. It’s important to understand the difference.

Read this article to gain more knowledge on saving and investing.

https://partnership.sjp.co.uk/article/detail/sjpp/should-i-save-or-invest-how-to-choose-wisely-and-well.html

So, you might wonder whether spending your valuable time talking to a financial adviser is worth it, particularly if you have a job that’s demanding and time consuming.

Flip the argument over, however, and you have some very good reasons why you might benefit from taking advice, especially if you’re at the higher end of the income scale.

Taking the strain - Anyone with a challenging job knows how hard it can be to stay on top of things at home as well as at work. Keeping track of your finances and ensuring your money works as hard as possible can be tricky when there are other matters to think about. However, there’s no need to try and keep that extra plate spinning when you can delegate it to a specialist.

Making it work harder - Advice can add particular value for high earners when it comes to pensions – a frequently complex area where the rules have a habit of changing on a regular basis. While long-term financial plans are often built on the foundation of tax wrappers such as pensions and ISAs, it’s easy to miss out on the tax reliefs and allowances that can make such a big difference in the long run.

The bigger picture - Financial advice and planning isn’t just about money. It encompasses much more than that - hopes and fears, lifestyle and ambitions, security and peace of mind. In that sense, financial advice isn’t so much the vehicle as the roadmap, helping someone get to where they want to go in life.

Read more in this article - https://partnership.sjp.co.uk/article/detail/sjpp/how-to-stay-on-top-of-your-financial-planning-with-a-demanding-career.html

How do you imagine your future? Cruising the Norfolk Broads by narrowboat, or relocating to the south of France? Maybe you’ve decided that you’d like to start that micro business you always dreamed of, or move closer to family? Now’s the time to check if you’re financially on track to achieve what you believe in:

https://partnership.sjp.co.uk/article/detail/sjpp/setting-personal-goals-and-making-them-happen.html

Might even do another post about this one as I think its a great starting point to see whether you are on track to getting where you need to be

You can use both ISA's and Pensions to lower your tax bill, but what exactly does that mean? And what are the benefits of each one?

🌟 Pensions are generally the most tax-efficient, while ISAs offer simplicity, and flexibility- and can be accessed at any time (subject to account conditions).

🌟 For many people in the UK, pensions and ISAs remain the most popular and tax-friendly ways to save.

Many of us will face bigger tax bills this year. With the personal allowance frozen until 2027/28, plus the reduction in the additional rate threshold to £125,140 from 2022/23 taxes will increase by £40 billion by 2028, according to the Institute for Fiscal Studies.

In addition, the tax-free allowances for Dividend and Capital Gains Tax reduced to £500 and £3,000 respectively at the start of this new tax year.

Read the article to gather more information on how to use ISA's and Pensions. Remember though these are just information only and each person is different. Always seek financial advice to help with your current situation.

https://partnership.sjp.co.uk/article/detail/sjpp/using-pensions-and-isas-to-reduce-your-tax-bill.html

📓

Hope everyone had a fantastic weekend.

This is pretty much what my weekends look like from now on. Football training on a Saturday and matches on a Sunday. Father and son, coach (in training) and player 💙💛

Pegswood Football Club

Can't pass this day without celebrating can I????

Maybe its a sign to start watching them all again, extended edition anyone?

The cost of private education has soared. Fees jumped by an average of 5.1% in 2022, according to Schoolfeeschecker. The average cost per child is now £6,944 a term for day pupils, and £12,344 a term for boarders.1 There are big regional variations too. And with the cost of living still rising, private schools have had little choice but to pass energy and food costs on to parents.

Despite the eyewatering costs involved, the prestige of a private school education is still strong. The latest figures (January 2022) from the Independent Schools Council or ISC show a record 544,316 pupils at 1,388 ISC member schools. It’s not simply about the academic grades, small class sizes and sports facilities. For many parents, private education is as much about who you meet, as what you learn. Friendships made in school days can open opportunities in later life too.

If private schools are on your wish list, start planning. Doing your homework and seeking out trusted, expert advice can prove invaluable.

There is so much information about private schools, a part 2 is going to be needed, I'll be speaking about how best to save for private education.

https://partnership.sjp.co.uk/article/detail/sjpp/how-much-does-private-education-cost.html

Secure your financial future in your 30s with strategic investment planning. Start exploring smart investment options now to achieve your long-term goals. It's never too early, download our guide to find out how you can begin.

https://bit.ly/Investinginyour30s