Welcome to CharterGroup
Financial Management.

We are a small network of Independent Financial Advisers directly regulated by the Financial Services Authority, and mainly linked to firms of Chartered Accountants in The CharterGroup Alliance.

Starter for 10: ages 16 to 22

Things that may occur: Young man thinking

  • Further education
  • Apprenticeship
  • First job
  • Moving away from home
  • renting, sharing or buying first property

How we can help:

  • Starting to save - "the more you earn, the more you spend" at this stage of your life, if you get into the habit of saving a proportion of your earnings, it will stand you in good stead for the rest of your life. If you save a set proportion of your earnings before you get used to spending it, you will not even notice the difference. If you don't start saving at this age, you will find it increasingly difficult as you get older! What will be the "trigger" that starts you? You will always find a reason to "put it off until tomorrow" and as we all know, tomorrow never comes.
  • Starting a pension - it may seem crazy to think about retiring when you are just starting to work, but the effect of compound interest at this age can make a huge difference to the eventual size of your pension fund. For example, if you were to get 7% return each year on your investments, the first 10 years of saving would make up over half of your eventual pension fund! Good news - everyone is living longer! Unfortunately this means you won't be eligible for your state pension until you are at least 68 years old (this may increase), so making your own provision is essential.
  • Mortgage for buying property - buying your first property will seem like the biggest decision you will ever make, we can be there to hold your hand through the whole process, arranging a mortgage, liaising with solicitors, estate agents, surveyors, our experience will make it seem like a walk in the park.

 

Your property/home may be repossessed if you do not keep up repayments on your mortgage