Introduction | Minors | Young Adult | Students | Early Married Life | Married + Young Children | Middle Aged + Older Children | Pre-Retirement | Retirement

YOUNG ADULT

1. There will usually be little need for protection policies, but regular savings make sense as a basis for future investments.

2. Savings products which may be considered could be ISAs, building societies, some National Savings accounts; perhaps unit trust, and investment trusts as income increases.

3. If trusts are to be considered for passing on assets from older generations, the decision should be made before age 25, as at this age, income must be taken even though capital may remain tied up.

4. Although most protection may not be relevant, protection of income by a Income Protection Policy (IPI) policy may be necessary.

5. If a bank account is to be opened now is the time to investigate the options.

6. If gifts of value are to be considered for marriage, ample time should be allowed to investigate the source of the gift, and what is to be done with it after receipt, especially if cash or other liquid asset.

REMEMBER You should not use any information contained on this page as the basis of any action until you have discussed matters with your financial adviser.