Key Times to Review Your Financial Situation and Get Professional Advice

As part of being human, we celebrate and commemorate the special times in our lives. Pivotal moments, rites of passage and life-changing situations are the times when we look at ourselves, review our lifestyle and determine the path onwards. As we get older, wiser and – hopefully – richer, these key times can also have a wide-ranging financial impact on our lives. At Wishart Wealth we know that insightful, professional and solid financial advice to people at different stages in life can mean a world of difference. Here are some of the key situations in life when you should get professional advice on your financial situations.

1. When you sell off shares

Whether they are from smart investments or a founder’s exit – when you sell a batch of highly valued shares, you often find yourself with more cash than you maybe expected. What do you do to make sure you can find the balance of work and play that you want in the future? Should you invest, choose a fund or give away money to family, friends or charity? Make sure you know how your shares can continue to give you value even after the paperwork is done.

2. When you want to change your working life

You’ve been earning good money and have saved up funds. Is it the right time to quit your job? Should you start working part-time, and what will the tax implications be if you reduce your income and increase your spare time? And what about leaving a secure, high-income job for an exciting opportunity to start something new? Our team can relate to different desires of changing your working situation, and help you determine what is a financially sound plan for you.

3. When your children have children

Becoming a grand-parent is a momentous occasion for anyone. It can also prompt fundamental questions of inheritance and savings, investing in the future and gifts to the generations that come after you. The inheritance tax rules can be complex, and only with a financial plan in place is it easy to find out what your future looks like in generations to come.


4. At retirement

At the end of your working life, you want to make sure you get the lifestyle you deserve. What is the right time to retire? How can your money help you achieve the life you want? With qualified, professional lifestyle financial planning we can help you determine the path that is right for you. Do you want to travel? Buy that dream car? Purchase property in the sun? Whatever your retirement dreams, having a financial adviser help you make the right decisions can mean the difference between a life in the sun and several years’ extra work.

5. When a spouse passes away

When a loved one dies, it can be hard to think of the practical situation. How do you best manage the finances and make sure that your financial situation does not deteriorate in a difficult situation? Find a financial adviser that is both friendly and understanding as well as fully qualified and has all the right expertise to help you when you need it most. At the same time, by being prepared and having discussed the eventualities you can make sure that you don’t leave your loved ones behind in an uncertain situation.

There may be many other key times in life where you need advice, but these are some of the defining moments that can have a long impact on your financial situation and your lifestyle. At Wishart Wealth we have years of experience and many examples to show how a comprehensive financial review and a professionally made financial plan give people the lifestyle they want and the financial rewards they deserve. We make it easy for you to see the long term value of financial planning, so contact us today on 0131 226 2012 to learn how you can benefit.