Financial planning is typically based on the individual’s stage of life. The services and strategies used by someone starting out in their career may be vastly different to someone approaching retirement. Financial planners can use a framework of life stages to inform their service, but it’s important to treat clients as an individual and make recommendations based on their own life events and goals.
In early adulthood between the ages of 18 and 30, individuals are usually leaving education and entering the workforce. They may have finished college or university qualifications, or they may have graduated from apprenticeships. In any case, this is usually known as the foundation stage and the beginning of the wealth accumulation period.
Milestones within the foundation stage
During this stage, individuals are starting to earn amounts of money that they have never had access to before, and they are therefore starting to develop spending and savings habits that will be pivotal in their relationship with money in the future. Individuals are establishing their financial independence, but some of the other milestones within this period include:
- Starting a savings or emergency fund
- Paying off student debts they might have
- Beginning their investment journey
- Considering a private pension
Getting people within this age group to engage in financial planning can be more challenging than later age groups. This can be due to a wide variety of reasons, such as individuals spending more money due to fewer immediate financial responsibilities or even due to the economy and high costs of living. However, there can be significant benefits in starting financial planning at these early ages as it creates more time for pension pots and investments to grow.
The Growth in Young Entrepreneurs
There has been a meteoric rise in the number of younger people starting businesses or creating second streams of income from self-employment. Starting and operating businesses can create financial challenges for young people, such as securing business investment, managing business cash flow and even working out how to manage business growth. For these reasons, financial planning services in the younger age groups may now demand more entrepreneurial and business-focused strategies.
For further information on financial planning services for young adults, don’t hesitate to contact our team.
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FAQ'S
We offer a free no-obligation initial consultation, which will allow us to identify your financial planning needs and to determine what services are most suitable for you.
On this meeting, we will provide you with and discuss our Terms of Business brochure. This document clearly details our fees for all areas of advice we provide. We understand individuals’ have different needs and objectives and after our consultation we will be able to confirm our fees. At no point will any chargeable work be undertaken until you are made aware of any associated fees. We are always happy to answer any questions about how and when our fees are payable, however we may not be able to confirm the exact fee until we have completed an initial consultation.
Yes, of course. We welcome the opportunity for you to invite family or a third-party representative to come along to our meetings if you would like the presence of a familiar face. We endeavour to support you, so please make us aware of any additional requirements or provision you require prior to our meeting.
We can meet face to face at our offices in Bexley. Our address is Unit 34 The Hop Store, Old Bexley Business Park, 19 Bourne Road, Bexley, Kent, DA5 1LR.
We can also facilitate home meetings if required, or video and phone calls if this is more convenient for you
We provide a range of advice services, including mortgages & protection, investments, financial planning, retirement planning, and estate planning. If you wish to discuss your enquiry further, please feel free to call the team on 01322 958222.
Yes, Sidney Curtis Financial Limited is an appointed representative of Quilter Financial Services Limited, which is authorised and regulated by the Financial Conduct Authority (FCA) and is registered on the FCA register with Firm Reference Number 440703. Sidney Curtis Financial Limited is also registered on the FCA Register with Firm Reference Number 1052400.
We offer a free no-obligation initial consultation, which will allow us to identify your financial planning needs and to determine what services are most suitable for you.
On this meeting, we will provide you with and discuss our Terms of Business brochure. This document clearly details our fees for all areas of advice we provide. We understand individuals’ have different needs and objectives and after our consultation we will be able to confirm our fees. At no point will any chargeable work be undertaken until you are made aware of any associated fees. We are always happy to answer any questions about how and when our fees are payable, however we may not be able to confirm the exact fee until we have completed an initial consultation.
Yes, of course. We welcome the opportunity for you to invite family or a third-party representative to come along to our meetings if you would like the presence of a familiar face. We endeavour to support you, so please make us aware of any additional requirements or provision you require prior to our meeting.
We can meet face to face at our offices in Bexley. Our address is Unit 34 The Hop Store, Old Bexley Business Park, 19 Bourne Road, Bexley, Kent, DA5 1LR.
We can also facilitate home meetings if required, or video and phone calls if this is more convenient for you
We provide a range of advice services, including mortgages & protection, investments, financial planning, retirement planning, and estate planning. If you wish to discuss your enquiry further, please feel free to call the team on 01322 958222.
Yes, Sidney Curtis Financial Limited is an appointed representative of Quilter Financial Services Limited, which is authorised and regulated by the Financial Conduct Authority (FCA) and is registered on the FCA register with Firm Reference Number 440703. Sidney Curtis Financial Limited is also registered on the FCA Register with Firm Reference Number 1052400.