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short term goals

Goals you have set to achieve within 12 to 24 months, for example, paying for a holiday or home renovations where you need easy access to funds.

 

Medium term goals

Goals you wish to achieve within the next two to five years, for example, paying for a wedding or a new car.

long term goals

Goals you wish to achieve within the next five to ten years and beyond, for example, planning your retirement to maintain your desired standard of living, children's education, house deposit...


Below gives you a typical overview of life stages. We have broken this down to 4 areas:
 

  1. Single 
  2. Marriage/Raising a family, Career focus
  3. Approaching Retirement Years
  4. Retirement Years
 


Single

Typically you will find the singles category should focus on:

  • Protect mortgage borrowings  against death / illness
  • Protect income against accident & sickness
  • Repay Borrowing (loans, credit cards, overdraft facility)
  • Begin to save and accumulate an emergency cash fund
  • Contribute to a pension
  • Begin to save regularly in to savings (i.e for house purchase)

 

Marriage | Raise a family | Career focus

Typically you will find the Marriage/ Raise a family /Career focus category focus on:

  • Protect mortgage borrowings against death / illness
  • Protect income & family against death, accident & sickness
  • Repay borrowing (loans, credit cards, overdraft facility)
  • Have a repayment mortgage or an established savings vehicle
  • Begin to save and accumulate an emergency cash fund
  • Contribute to a pension
  • Begin to save and invest regularly into short to longer term savings
  • Fund child care - childrens education, family holidays, cars etc..
  • Save for adult gap years
  • Invest lump sums i.e Employment Bonus, inheritance
  • Seek Wealth sustainability
  • Will writing/estate planning

 

Approaching Retirement
Planning aged 45 – 67

                Typically you will find the Approaching Retirement category focus on:

  • Seek Wealth sustainability
  • Will writing/estate planning
  • Protect mortgage borrowings against death / illness
  • Protect income & family against death, accident & sickness
  • Minimise unsecured borrowing (loans, credit cards etc..)
  • Have a repayment mortgage or an established savings vehicle
  • Established Emergency funds
  • Contributing more towards retirement planning - etc. a pension
  • Save/invest regularly in to savings short to longer term savings
  • Invest lump sums etc. Employment Bonus, inheritance
  • Save for children’s education – Grandchildren
  • Equity Release
  • Exit strategy for retirement. Desired age of retirement
  • Planning to continue to work and retire
  • Fund parents Long term care

 

Retirement years aged 55 – unknown

Typically you will find the Retirement years category focus on:

  • Repaying/Repaid all Borrowing including mortgage.
  • Established emergency cash fund
  • Protect mortgage borrowings against death / illness
  • Protect income & family against death, accident & sickness
  • Contributing more towards retirement planning - i.e a pension
  • Save/invest regularly in to savings short to longer term savings
  • Invest lump sums i.e Employment Bonus, inheritance
  • Seek Wealth sustainability
  • Will writing/estate planning
  • Fund/assist with grandchildren support
  • Equity release
  • Exit strategy for retirement.
  • Continuing to work and retire
  • Fund parents Long term care
     

Important:

Before you invest please make sure that the following is addressed first...


1. Debt – Your mortgage, loans, credit cards, overdrafts etc. We strongly recommend that you address these first. Borrowing usually carries an interest rate, there is no guarantee that savings will achieve a greater return than the interest rate on your borrowing. It is wise to address this. There are financial and also psychological benefits in addressing this.

2. Protection – We recommend that you address your protection needs. This can be protection against premature death, diagnosis of a critical illness and protecting your income. All outstanding borrowing should be protected. It is pointless saving when you may need to call on this money in times of illness when an affordable protection plan can protect your wealth.
 

3. Emergency Money – Do not invest all your money. It is very wise to establish a comfortable amount of emergency money which is easily accessible. This is usually a cash based account like your current account. Every one is different however we would suggest at least 3 months income is readily available.
 

4. Affordability & Access – Make sure that any amounts of money that you are looking to save as a lump sum or on a regular basis is affordable. Do not leave yourself short. The recommended minimum time horizon on this money is 5 years. Although you can access this money with out penalty sooner you must see this as a medium to long term savings opportunity.
 

5. Risk – Every investment including your cash accounts has an element of risk. Cash has Inflationary and Interest rate risk. As well as savings taxation many people don't realise they are actually losing a significant amount of purchasing power with their money. With investment risk your money will go up and down daily, how much by can be determined by you. This is why i2day asks you to complete an Attitude to risk profile. In essence the more risk you take the greater return but on the flip side the less risk you take the less return. The graphic illustration provided in the online application process and in the report gives you an indication of this. The animated clip in 'how my money is invested' can help you understand this further.


To Help you plan & budget we have enclosed a Income & expenditure document

 
 
 

Today, there are many providers who are competing to lend you money. Equally millions are spent daily on glamorous advertising to encourage you to spend that hard earned or borrowed money.

At i2day we want to encourage more responsible savers and slow down the consumer urge to borrow and buy goods on impulse.

We believe that every individual and household should regularly review their budget. We have attached a simple income & expenditure document for you to complete.

In simple terms you should be earning more than you are spending.

This can help Identify where you can cut back & save money or where you can see the opportunity to set aside money in a longer term savings account.


1. Click on any ‘start investing button’. This will put you through to a compliance statement which you must read. If you’re happy to continue tick the box and press ‘yes I agree’
 

2. We then ask you some questions about you, the amounts you would like to invest, any ISA allowances used for the current tax year and the level of risk you're comfortable with.

3. Before you are presented with your personalised investment proposal you need to confirm your email address and password. These set up details also allow you to see your valuations at a later date.
 

4. You are then presented with your personalised investment proposal summary, this will illustrate to you how we recommend how your money should be invested and show projections for how it could perform. This can also be downloaded in PDF.
 

5. What next? If you’re happy with what you have read and seen then click ‘continue to invest’ 

or


If you need more time or would like some assistance then click ’save and continue later’ & call us..

 

Believe it or not we are all quite similar. We have all or will at any one time experience the above life stages.

Therefore we understand that your investment objectives and affordability will differ based on your ever changing circumstances.

 

 

The above information is to assist you and is not deemed as advice in any way. We appreciate that i2day can not support and advise all needs therefore if you do feel you need specific tailored advice please contact our sister company TWP