Too many people in the UK are walking a financial tightrope, living day by day without a thought of planning for the future.
As a financial adviser you have the very important job of making sure as many people as possible protect themselves against the unexpected. The financial forecast calculator will help you start that conversation in the following ways:
In order to complete, all you need to know is your client’s gross annual income, the length of full sick pay their employer provides and a good idea of how much they spend each month on life’s everyday expenses.
How many months of full sick pay would you receive if you were ill or injured and unable to work?
If you’re unsure, click here to download our 'Ask your employer' letter.
The graph below displays your financial forecast. Look out for a couple of key things:
If the graph raises more questions than answers, that’s where your adviser comes in…
But lines on a graph might not do the situation justice. Check out the quarterly forecast below to see how you would fare keeping up with your monthly expenses if you were too ill to work. As you'll see, the cumulative impact of the losses in the 12 months could leave you with a mountain to climb.
Resulting in a shortfall of after 12 months.
The financial forecast calculator is for guidance only and is designed for financial advisers to complete with their clients. Please note this calculator should not be used for gross incomes under £19,000 or over £118,880.
The figures are based on the following assumptions:
The figures do not account for any state benefits your client may receive or be entitled to receive (other than ESA), or any Income Tax due on your client’s ESA payments. It is important to remember that your client’s entitlement to all benefits depend on their personal circumstances.