Living the life you want
We have a simple but effective approach to ensure you can live the life you want, now and in the future
Everything we do for you is informed by our Human First ethos and our experience of what has worked before. It is built on the strong foundations of evidence and behavioural science. We call this approach Financial Life Planning, and this is how we go about it:
We look at what you have and what you want to achieve over time. That’s the simple part. The next part requires a bit of trust from you. We’ll ask about your life goals, ambitions, and dreams. We’ll ask questions about what drives you, inspires you, and makes you tick. We’ll want to know about your doubts and fears too. This is how we get to know you as a human, first.
From all of this rich information, we'll better understand your behaviour characteristics, which will help us create a truly personal financial plan, built to be as unique as you are.
Once we’ve created the financial plan that will give you the best chance of getting to where you want to be, we’ll set to work protecting what you value most in life.
That might be about making sure your family is financially secure in the event something happens to you. It might be preserving the value of your savings and investments by reducing costs and charges. It might simply be making sure you have effective inheritance plans in place. This step might involve recommending certain financial products, but only if you need them to achieve your life plans.
Here’s an important point. When we talk about growth, we don’t just mean investment growth (although that is a factor, for sure). We prefer to focus on your personal growth and the progress you are making towards achieving what you set out to do. Everything we do here is about focusing on what it is you need to do to turn your plan into a reality.
Again, we might recommend new financial products that are aligned to your core values and behaviours during this stage, or it might just be a case of tweaking what you already have to account for changes in your personal circumstances.
To keep the plan alive and to make sure it continues to evolve and adapt, we go back to Step 1 and repeat the process. The one thing we know for sure is that we all live in a fast-paced dynamic world that sees us adapting to the multitude of things life throws at us.
These things don’t happen just once a year, so we don’t simply “check-in” with you once a year. That’s not our way. We’ll always be here for you, working for you, helping you live a fulfilled life.
Over the nearly 50 years that Murphy Wealth has been helping clients live fulfilled lives, we’ve evolved our Human First approach to make sure your financial life plan constantly adapts and is always relevant to your goals, your dreams, and your ambitions.
It’s a remarkably simple and effective methodology.
You’ve hopefully noticed by now that we haven’t talked about financial products at all
And there’s a simple reason for this - we are, always, Human First. We will only ever advise you to take out a financial product if you need it to live the life you want to live. The product areas we are likely to advise you on are:
Have you thought about:
- When you want to retire
- How you will retire
- A plan for leaving work
- How you will spend your time
- What you will need to live the life you want
You are working hard to enjoy life after work, therefore it’s not a surprise that you might like to:
- Retire at an age that works for you
- Plan your retirement the way you would like to see it
- See what your finances might look like in the future
- Ensure you have a comfortable retirement income to live off
- Take the appropriate steps to start phasing out of work
You have more control over your retirement than you think. Don't 'sleep-walk' into retirement.
We’re here to help you take back control and live the life you want, not the one you perceive you can have.
Investments can play a big part in your planning your future and finances. Whether you would like to start investing, or grow your investments into the future, in a tax efficient way, we’ll help you:
- Assess your assets and ensure their value-add
- Assess how much risk you are prepared to take on
- Manage your portfolio and ensure it is giving you the best returns
When it comes to investments, there are always various options, but we keep them simple and help you bring them to life.
Insurance and Protection Advice
At times, we can do all the planning in the world, but without the right protection in place it can become redundant.
Whether it’s for you or your loved ones, here’s the protection we can help you with:
- Safe-proofing for your future - protecting your family and ensuring you have the right insurance in place
- Income protection - to give you and your family security when you become ill and cannot work.
- Mortgage protection - to ensure your loved ones are not left with a large amount of debt should the worst happen to you
Don’t worry if you don’t know which ones are right for you, we want to help you find the right cover and protection you need in your life.
Tax impacts your life in many ways. It can also be complex given the many different legislations. We keep up to date and on top of legislations, helping us help you with:
- Being more tax-efficient with your finances
- Building a plan around your assets and finances enabling you to make the most of tax reliefs and allowances
- Understanding the implications of Inheritance Tax, Capital Gains Tax and Income Tax
Don’t let tax frighten you from taking control of your finances.
Estate and Succession Planning
When you think of your finances, you will often think of your loved ones and future generations. It’s important to know what your options are.
We think about succession planning in two stages:
Stage 1: How to make your wealth last
Stage 2: How to pass your wealth onto the next generation
We’ll help you create a plan that takes you and your loved ones into key consideration. But first, we’ll ensure you are looked after.