Single Adult or Couple with no Dependants
Single Adult or Couple with no Dependants
As you have no dependants your liabilities are arguably lower now than they may become later in life. However there are some risks which could have a profound affect on your future and there are some things you might want to consider putting in place now rather than later.
Typically young adults have relatively low incomes but, with no dependants, your obligatory outgoings should be low, leaving you a healthy disposable income.
This is a good time to start a pension - doing so when you're young, free and single can have a great effect on the eventual outcome! If you're in employment you should give consideration to joining your employer's pension scheme. For information about our retirement planning advice, click here.
Consider the pointers below, but remember this page is for information only and the list of risks mentioned are certainly not exclusive. We strongly advise taking financial advice before taking any action.
What if you were sick or injured for longer than your employer's sick pay period?
Would you cope financially?
Income protection insurance could replace your income in this situation. If you were permanently disabled this type of insurance could even replace your income all the way to your planned retirement age.
Next Steps
If you wish to take advice or simply wish to discuss the options, do feel free to contact us.
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| email: | enquiries@whitchurchifa.co.uk |
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The content of this website is intended for private individuals and introducers in the United Kingdom only. It is intended to provide generic information only and constitutes neither financial advice nor an offer to provide financial advice. We strongly recommend that all parties seek professional financial advice before taking out, funding, amending, crystalising, taking income from or cancelling any financial policy, product, instrument, contract or commitment. If you would like to seek advice on any of the aspects mentioned on this website from us please click here to contact us.
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