Financial FAQs
Helpful answers from the Murphy Wealth team to common financial questions, offering clarity and guidance when you need it most.
How do I take money out of my business tax-efficiently?
Enjoy your success
You’ve worked long hours and put in hard work to build your business. Now, you’re ready to withdraw money from your company and enjoy the fruits of your labour.
However, as with many things in life, withdrawing cash from your business is not as simple as it sounds and it comes with implications. But with our help, we will take away any confusion and provide you with a clear path to follow.
My financial needs are complex. How do I begin to structure them?
Demystify your finances
More money means more choices and options, and it often brings about more complex circumstances. That’s why finding a financial planner who gets what you’re about and understands your goals is crucial.
Although you’ve got enough money to live comfortably, you’ve not given much thought to what the future may hold. Life may be going fast, but it’s never too late to structure your finances.
How can I start to plan my exit from my business successfully?
The roadmap for your exit
When you think back to the day you started your business, it’s incredible how far you’ve come. However, every success story must end somewhere, and your journey as a business owner is coming to an end.
You can’t just hand in your notice and pack up your things. As the owner, your exit needs to be handled carefully and it’s always a good idea to start removing yourself from the business and handing over responsibilities well before you intend to leave.
I’ve accumulated a large amount of money but what do I do with it?
Mapping your journey forward
Having built up a substantial amount of money, whether through inheritance or by saving, you’ve found yourself at a crossroads. You’re in a position many aspire to reach, but now you’re faced with your own set of challenges and questions.
Placing the money in investments and savings has crossed your mind but you’re not entirely sure where to start. Let’s work together and explore the different avenues.
Can I maintain my current lifestyle when I finish work for good?
Navigate the road to retirement
Working full-time has enabled you to live a comfortable lifestyle. You enjoy your holidays, weekends away and meals out, and you couldn’t imagine life any differently. However, with retirement creeping ever closer, you start to wonder how long you can maintain this lifestyle.
Although you’re not finishing work right now, you still want the comfort of feeling in control of the future.
I need a sounding board to make sense of business decisions. Can you help?
Sharing the burden
When you’re a business owner, who do you turn to when you need a second opinion or someone to talk to and offer guidance?
Instead of bottling everything up and just pushing on through, speaking to someone outside your business will help you feel less isolated. Sometimes, the best way forward is to stop and have a conversation with a trusted adviser.
I have no cohesive financial plan. How do I know if I’m doing the right thing?
A brighter tomorrow
There are many pieces to your financial puzzle, so it can be tricky to know whether you’re taking the right steps and doing the right thing for you and your family.
You want to achieve financial independence and create a lifestyle you love. But how will you make it happen? The answer lies in creating a cohesive financial plan.
I’m reaching the peak of my career. What are my next steps financially?
Maximise life beyond work
Even when you are at the peak of your career, the importance of time, money, and health remains the same. Now, more than ever, you want to maximise your savings and make the most of life beyond work.
With all the demands of being a successful professional, it’s easy to neglect your personal finances. However, managing your money is just as important as managing your career. Lean on us to help you decide on the next steps.
How we do it
A simple process built around your life, goals, and future.
Plan
From the very first meeting, we focus on understanding your goals, ambitions, and concerns so we can create a financial plan tailored entirely to you.
Protect
Once your financial plan is in place, we’ll help protect what matters most – from your family’s future to the value of your savings
and investments.
Grow
Growth means more than investments. We focus on your personal progress and helping you take the right steps towards achieving your goals.
Repeat
As life changes, your financial plan should adapt too. That’s why we continually review and evolve your plan to help keep you on track for
the future.
Benefits
The benefits of having a financial plan designed around you.
What you’ll appreciate most about our approach is the freedom we provide to control and shape your financial future.
With a clear plan in place, you can make informed decisions, adapt to life’s changes, and focus on the things that matter most to you and your family.
Our approach is built around your ambitions, concerns and long-term goals, creating a financial plan tailored to the life you
want to lead.
Through trusted relationships and personal guidance, we help you move forward with greater clarity, confidence and peace of mind.
Financial confidence starts with clarity in the decisions you make for yourself and
your family.
By working towards a shared vision and clear goals, we help you better understand your options, track your progress and feel
more confident.
Financial plans should evolve as life changes, which is why we continue to guide and support you over the long term.
With regular reviews and ongoing advice, Murphy Wealth helps keep your plans
aligned with your goals, priorities and
future ambitions.