We all want to provide the best for our loved ones, whether this be the education of our children or the long-term care of our aging relatives. Yet with school and care fees ever increasing, the stress around affording these things is also going up. With a careful, well thought out financial plan, the team at Bigmore Financial Planning can help you be more confident in these potentially unknown costs.
If you have more than one child and then factor in university fees too, this can be significant amount of money. This is why it is essential to plan and start saving as early as possible to ensure the education of your children.
There are a wide range of savings and investment products available that can help to reach your financial goals in planning for your child’s educational future. At Bigmore Financial Planning we consider your individual circumstances and set out a plan to meet your objectives. Whether you pay in a lump sum or pay in on a regular basis we will advise on the most tax efficient plan.
Our financial planners have the expertise to help you find the right school fees savings plan for you.
With limited care home availability and people living longer, long term care fees can become a life changing issue. You can receive long term care in your own home or in residential or nursing homes. Regardless of where you receive care, paying for care in old age is a growing issue and can be a huge financial burden.
Long term care insurance provides the financial support you need if you must pay for care assistance for yourself or a loved one. Long term care insurance can cover the cost of assistance for those who need help to perform the basic activities of daily life such as getting out of bed, dressing, washing, and going to the toilet.
Government state benefits can provide some help but may not be enough to pay for the full cost of long-term care. In England, care costs are means tested, this means that if you have savings above a certain level, you will need to deplete these before the state steps in to help. With the rising cost of care this can often see inheritances and lifelong savings wiped out.
You and your loved ones should have the comfort and security of knowing you will be comfortably cared for when such a time arrives. Let us help you to plan for the costs of your long-term care needs. Get in touch now for a free, initial appointment.
Please note: The Financial Conduct Authority does not regulate tax advice.
These are designed to pay a guaranteed level of income in exchange for a lump sum payment. They have specific tax advantages if they are paid directly to a care provider.
These are designed to give you the option of insuring for future care needs before they develop. With the rising and erratic costs of care coupled with the sensitive nature of the insurance, most insurers have pulled out of the market.
You can use your pension to buy an enhanced annuity (also known as an impaired life annuity) if you have a health problem or a long-term illness. People with medical conditions including Parkinson’s disease and multiple sclerosis, or those who have had a major organ transplant are likely to be eligible for an enhanced annuity. These annuities will pay a higher level of income due to the shorter related life expectancy.
Request a quote and experience our top class support first hand.
Please use the form below to get in touch with us.
Input your search keywords and press Enter.
