Dear Valued Clients and Friends,

We are excited to share with you a captivating discussion we recently hosted featuring Phil, a seasoned Financial Advisor, on a topic close to many of our hearts – saving for our children’s future. This insightful conversation delves into various aspects of financial planning for significant milestones in your children’s lives, such as education, first homes, and beyond.

Highlights of Our Discussion with Phil:

  • The Power of Starting Early: Phil emphasizes the importance of starting to save as soon as possible. The earlier you begin, the more you benefit from compounding interest, making the journey towards your financial goals smoother.
  • Setting Clear Goals: Understanding what you’re saving for – be it school fees, university expenses, a house deposit, or even a first car – helps in crafting a precise savings plan. This clarity is crucial for effective financial planning.
  • Tax-Efficient Saving Strategies: The conversation shifts to how to save efficiently. Phil discusses options like ISAs (Individual Savings Accounts) and Junior ISAs, highlighting the differences in control and access to funds. He also covers unit trusts as an alternative for when ISA allowances are maxed out.
  • The Role of Trusts in Financial Planning: Setting up a trust can be a strategic move for substantial sums. Trusts offer control over how and when funds are used, protecting the assets from various external factors like inheritance tax implications and potential marital splits.
  • Flexibility and Control: Phil underscores the flexibility in these saving methods, whether you wish to maintain control over the funds or prefer to hand it over to your child at a certain age.

Why This Matters to You:

As the CEO of Watermill Consulting, I understand the importance of forward-thinking and meticulous financial planning, especially when it involves the future and well-being of our children. This discussion aligns perfectly with our ethos of empowering you with knowledge and tools to make informed financial decisions.

Looking Forward:

We encourage you to watch the full video for deeper insights and more detailed guidance. Whether you are just starting your savings journey or looking to optimize your current plans, this conversation is a valuable resource.

Stay tuned for more enriching content, and feel free to reach out to us for personalized advice tailored to your unique financial goals.

Deepti Agarwal

CEO Watermill Accounting

Guildhall, Market Square, 

Cambridge, CB2 3QJ