Welcome to our March/April 2023 edition of our financial planning magazine.

Succession Planning

Financial planning can be a daunting and uncomfortable conversation for many, but thankfully attitudes towards talking about money are changing. Wealth succession should be an integral part of your financial plan as early as possible – because the right preparation now can have positive long-term impacts on future generations. On page 06, before you start this process, we consider the questions you need to ask.

Financial Advice

When it comes to managing your finances, the wealth of resources now available can make it easy to try and go it alone. However, obtaining the right advice from a qualified professional financial adviser will ensure you are able to plan ahead by including expectations for items such as inflation, market declines and your protection requirements, so you can stay on track. Read the full article on page 03.

Preparing to retire

Also in this issue, there are signs and targets that can signal that you are prepared to retire, but it can be difficult to figure out when you are truly ready to retire. We may think of retirement as being centred around a particular age or monetary amount. When we get to ‘X’ years old or have’Y’ amount of money, we can move on to our ‘golden years’. On page 10 we look at the main questions to ask yourself for a secure financial future.

Critical Illness Cover

People are increasingly becoming more concerned about the possibility of being affected by a critical illness such as cancer, stroke or heart attack. With rising rates of serious illnesses, people are becoming more aware of their need to be covered and secure proper protection against critical illnesses. In challenging times, the number one priority is to support those you love. Turn to page 09.

A full list of the articles featured in this issue appears on page 03.

Looking for a fresh perspective on what’s possible?

Financial planning may be complex, but it doesn’t have to be difficult. Whether it’s planning for your future, or growing or protecting your wealth, we’ll give you a fresh perspective on what’s possible.

We hope you enjoy reading this issue and, for more information on our latest financial planning magazine or to discuss any of the issues raised in this article, please contact us. Further information can also be found at gov.uk.

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Personal circumstances differ and not all of this information is applicable to every client and/or their business, this information is general in nature and should not be relied upon without seeking specific professional financial advice.

The Financial Conduct Authority (FCA) does not regulate tax advice, estate planning, trusts or will writing.

The content in this article is for your general information and use only and is not intended to address your particular requirements. Articles should not be relied upon in their entirety and shall not be deemed to be, or constitute, advice.

Although endeavours have been made to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No individual or company should act upon such information without receiving appropriate professional advice after a thorough examination of their particular situation. We cannot accept responsibility for any loss as a result of acts or omissions taken in respect of any articles.

Thresholds, percentage rates and tax legislation may change in subsequent finance acts. Levels and bases of, and reliefs from, taxation are subject to change and their value depends on the individual circumstances of the investor. The value of your investments can go down as well as up and you may get back less than you invested. Past performance is not a reliable indicator of future results.

Pareto Financial Planning Limited is authorised and regulated by the Financial Conduct Authority (FCA).