Most people worry about money at some point in their lives.
Common questions we hear include:
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Will we be able to maintain our lifestyle in retirement?
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Could we cope financially if one of us needed long-term care?
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What happens to my partner if I die (or to me if they die)?
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How would a prolonged period off work affect us?
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What if markets underperform while we’re invested?
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How can we help children or grandchildren without compromising our future?
Effective financial planning transforms these worries into clear decisions and next steps. It provides you with a sense of security and flexibility, allowing you to focus on living your life to the fullest.
Step 1: Get clear on what matters (then set “best-guess” goals)
Before numbers, products, or portfolios, start with why. What does a good life look like for you over the next 1, 5 and 25 years? Most of us don’t have perfectly formed goals at the start—and that’s fine.
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Best-guess goals: Put a stake in the ground and say, “I think I’m heading there.” We’ll refine as we learn more.
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Anchor to values: If goals are tied to what truly matters—family, freedom, impact, the direction is usually correct, even if the details evolve.
Step 2: Get organised (a simple checklist)
Next, capture what you have to plan with. Gather statements or scans and note today’s values.
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Cash savings and emergency fund
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Pensions (workplace, personal), plus a State Pension forecast
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ISAs and other investments
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Protection policies (life, income protection, critical illness)
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Mortgage(s), loans and other liabilities
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Business interests or share schemes
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Expected one-off costs (school fees, house projects, weddings)
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Estate documents (wills, letters of wishes, LPAs)
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Regular spending (essentials, lifestyle, “nice-to-haves”)
Perfection isn’t required. An 80% view is better than waiting for 100%.
Step 3: Model your future (so choices are based on educated guesses)
With goals and resources outlined, we map your lifetime cash flow to see how likely the plan is to succeed and what trade-offs can improve it.
What we typically test together:
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Retirement timing & lifestyle: retire sooner/later; spend more/less; part-time transitions.
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Resilience: long-term care needs; illness or redundancy; big-ticket surprises.
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Market stress: poor sequences of returns and how buffers help.
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Gifting & legacy: helping children/grandchildren, philanthropy, and what’s still “enough“ for you.
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Risk capacity vs. risk tolerance: how much risk your plan can take vs. how much risk you’re comfortable taking.
At times, the model may suggest you can spend more or give sooner. Other times, it may recommend saving more, downsizing later, or adjusting expectations. The key is that you’re making informed choices, which can empower you to take control of your financial future.
Step 4: Decide and implement (products last, only if needed)
A good plan often needs little or no new product. When solutions are appropriate, they usually fall into four buckets:
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Protect – making sure bad luck isn’t catastrophic (emergency cash, life cover, income protection, wills/LPAs with a solicitor).
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Grow – structuring savings and investments sensibly (e.g., pensions, ISAs, GIAs) aligned to your goals and risk.
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Draw – turning assets into dependable income in retirement (spending “guardrails”, cashflow buffers, and, where suitable, a secure income “floor”).
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Give – tax-aware lifetime gifts and estate intentions, coordinated with your professional advisers.
Clarity first; simplicity wherever possible.
Step 5: Review and course-correct (because life happens)
Planning isn’t a one-off event. We revisit the plan regularly, and when life changes:
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New job or business sale
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Births, deaths, separations
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Big purchases or relocations
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Health changes or caring responsibilities
Expect the plan to be “wrong“ in the details—that’s normal. The value lies in spotting the drift early and making the necessary corrections.
What this approach resolves
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“Will we be OK in retirement?“ We show the range of likely outcomes and the levers that improve them.
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“What if one of us needs care?“ We model care costs and set aside contingencies so it’s planned, not panicked.
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“What happens if one of us dies or can’t work?“ Your survivorship and income-shock plans make sure the bills get paid and the family stays secure.
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“What if markets disappoint?“ We plan for tough sequences in advance—using buffers, sensible withdrawal rules, and the right risk for you.
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“Can we help the kids now?“ We calculate how much you can comfortably gift without jeopardising your independence.
DIY vs. advice
Many people can create a basic plan on their own. Others value a calm, impartial partner who will challenge assumptions, do the heavy lifting, and keep them on track when emotions run high. Both routes are valid; the “right“ choice is the one that gets you to your goals with the least stress.
The real outcome
Peace of mind may sound like a cliché, but it’s the natural outcome of a clear plan, well-made decisions, and steady course corrections. It means less worry about market fluctuations and more time for the people and experiences that truly matter.
How PWS Financial Consulting can help
At PWS, we follow a simple, repeatable process: Discover → Organise → Model → Decide → Implement → Review. If you’d like to see your numbers mapped against your goals and understand the specific levers that improve your odds, please get in touch, and we’ll start with a short, no-pressure conversation.
If you need advice, we’re here to help. Schedule a free, no-obligation chat here. A guide on selecting a financial advisor is also available here.
This article is for general information only and does not constitute personal advice. If you’d like advice tailored to your specific circumstances, please contact us.
