As we progress through life there are many important financial considerations to that come up. What those considerations are change based on the stage of life you’re in. In conjunction with the team at Bigmore Financial Planning, Bigmore Benefits provides a series of presentations and workshops designed to guide employees through the stages of their financial life.
This is the stage of life where your employees may have just started out in their career and seeking Financial Advice is unlikely to be in the forefront of their mind. However, this is the perfect time to start gaining knowledge of some of the financial basics.
In this presentation we introduce the foundations of managing your finances effectively. We will teach your employees how to manage spending and saving as well as addressing any debt. Most importantly, we will teach your young employees to adopt the right behaviours, so they able to form positive financial habit and become engaged in their saving from an early age.
They will learn:
• The Art of Budgeting
• Debt Management
• Personal Financial Management & Behavioural Finance
• Saving, and the Power of Compound
Your employees may now be in the process of settling down and this life stage can naturally lead to several events. It can ring a number of considerations that will have a financial impact. Such as marriage, children and purchasing a property. It can be one of the most financially challenging life stages because whilst income may have increased, this is offset by an increase in liabilities. This may be also the first time your employees start thinking more seriously about their future provisions and considerations, such as how they maximise pension contributions.
Some of the things this presentation covers are:
• Getting on the Property Ladder
• Protection Considerations
• Wills and Lasting Powers of Attorney
• Saving for Your Future
•Cash Flow Modelling
During this stage of life, your employees may start to think about when they can stop working. They may have started to make inroads in paying off their mortgage. Their children may be older and may be thinking of flying the nest. Their income may have increased, and liabilities decreased, leading to them having more disposable income.
The earlier people start saving for their retirement, the better their position will be later in life. Our main objective for this life stage will be to help your employees understand how much income they may need in retirement to meet their lifestyle. Often, their newfound surplus income, may be used towards mortgage liabilities or pension planning.
We will look at:
• How much is enough in Retirement?
• Lifestyle Financial Planning
• Maximising Income Strategies in Retirement
• Estate Planning
Part 1 of our pensions sessions provides an overview of the type of workplace pension scheme in place at the company, including the relevant tiers and charges. We help employees learn the impact of additional contributions, and the tax advantages. We also help employees understand the importance of registering online to view, and manage their pension so they can get engaged as early as possible.
The second session in our two part pension series provides a more advanced presentation of the many considerations employees should know. This includes specific details on how their money is invested, their investment choices and the implications of their contributions from a taxation perspective. It also provides education about pension advice matters such as; annual allowance, Lifetime Allowance, Carry forward allowance, Taper Allowance, and retirement options in respect of taking pension benefits.
High Income earners often have specific requirements. They may have considerations in respect of their pension contribution allowances. They may also need support in a whole range of financial aspects, such as maximising allowances for themselves and their partners, estate planning, and general financial product information. Here we help high income earning employees understand the specific considerations they should be aware of and how to receive the best support.
As an Employee Benefits Partner, we provide a comprehensive Employee Benefits presentation to help employees understand the value of the benefits package in place, and how this interacts with the wider financial needs and requirements of employees.
This session is an opportunity for employees to fully understand the benefits on offer by your company, which often leads to stronger take up of the benefits and engagement overall.
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