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Life stages: we're at your side as your financial needs change

From buying your first home and starting a family, to planning for retirement, your financial needs and priorities will change throughout your adult life.

Different life stages - as well as the unexpected, such as coronavirus - can trigger the need for different financial requirements, and we at NFU Mutual can support you with expert financial advice throughout your journey. Having a conversation with a trusted expert can help you feel confident about your decisions and avoid making costly mistakes.

Buying a house and starting a family

Buying your first home can feel like a daunting entry into the world of finance; one of mortgages and interest rates to get your head around.

This can be a hectic and expensive time of life – and you may also be starting a family. At 34, the average age of a first-time home buyer in the UK is very close to the average age of new mothers (30.6) and fathers (33.6) in England and Wales.

With the responsibility of a mortgage, you’ll need to think about how your family would cope if you became ill, were unable to work or died. We can help you plan so that your loved ones are protected. We've teamed up with AIG to offer a range of life insurance, income protection, and critical illness products to minimise the financial impact that your death or a long-term illness could have on your family.

Unexpected events and uncertain times, such as everyone is now facing, can also concentrate your mind on what’s really important. An NFU Mutual customer survey showed that nearly one quarter (23%) of customers with life cover are reviewing or thinking about reviewing their cover as a result of coronavirus, while 16% had actively reviewed their policy.

Making your money work as hard as possible

Money can be tight when you’re paying a mortgage, while also contending with the costs of raising small children, such as nursery bills.

So, it’s important to ensure you’re making the most of your hard-earned income. Our Financial Advisers can explain a wider range of options and help you to make smart, tax-efficient investment decisions.

Continuing your life journey, you might soon consider starting your own business; the average age to become an entrepreneur is 42. Building a company is a tough journey, and we’ll be on your side, here to provide advice on business protection insurance and employee benefits.

Planning for retirement

By this stage of life, you’re also likely to be looking ahead and planning for retirement - even if it still seems in the distant future. It’s best to start investing as soon as you can, even if it’s just a small amount each month.

There are a range of choices and options available when it comes to setting realistic retirement goals. We can provide expert financial advice to help you make the right decisions, work out the level of income your existing plans could deliver and what you need to do to help you get the income you want in retirement.

Retirement and inheritance planning

The time arrives to enjoy the spoils of many years of working and saving.

At retirement, you’re again presented with many options about how to best manage your finances. If, for example, you want to better understand how and when to take your pension benefits, or are planning to sell or downsize a property, our trusted advisers can help point you in the right direction. They can also help with the complicated process of planning how inheritance is passed on, helping you to leave your money to your family rather than the taxman.

Get expert advice

An NFU Mutual Financial Adviser can help you to navigate through each of these life stages and assist you in reaching your financial goals. Find your local agency office or request a call back and they'll put you in touch with an NFU Mutual Financial Adviser.