Well only sometimes. Firstly, if you don’t already, you’ll need to understand the difference between ‘social’ and ‘health’ care. Social care is best described as care needed to help with activities of daily living (washing, eating, mobility etc). It is the responsibility of your local authority who will assess the needs you have, and they will also assess how much you are able to pay towards the care you need. If someone in need of social care owns a house or has much in the way of savings, the chances are they’ll have to pay for all or at least some of their social care. On the other hand, health care is where your needs are of a medical nature, and this is the responsibility of the NHS. So, if your need is for health care, this is currently free at the point of need.

Kirsten attained her Later Life Adviser Accreditation (LLAA) in 2011, having proven her professional commitment to the area of Later Life advice.

Corporate Chartered status is awarded by the Chartered Insurance Institute – the professional body for insurance and personal finance, to firms that have made a public commitment to aligned ethics and values, to providing knowledgeable advice backed up by qualifications and continued professional development, and to seeking good customer outcomes.

These are two questions that people often ask themselves when they start thinking about financial planning. And that’s only natural. We expect our money to help us feel safe, especially as we grow older and start thinking about retirement. Unfortunately, if you view your savings and investments only as numbers on a page that you’re trying to nudge upwards, then there’s no such thing as “enough.” You could always be saving more. You could always be investing more. You could always be spending less. But does doing so make you feel any happier? Your financial plan should be a vehicle that takes you where you want to go. If you’re fixated on “having enough money,” then your plan, and the life it provides you, will be stuck in a cul-de-sac. You’ll find yourself trying to justify every minor and major financial decision as you circle around and around wondering if you “have enough.” That’s not a trip that’s going to make you feel secure. It’s not going to make you feel happy either. Ask New Questions Today, people are starting to ask a new question about their financial plan: “Am I getting the best life possible with the money I have?” Instead of focusing exclusively on their traditional return on investment (ROI), these people are starting to focus on their Return on Life ™ (ROL). But how do you know if you are getting a good ROL? We concluded that people need to measure where they are presently against the ideals they are striving for in the context of ROL. This is how the ROL Index was born. The ROL Index helps you answer the question: “Am I getting the best life possible with the money I have?” It consists of 20 questions that are grouped into three categories: Well-Being , Progress , and Freedom. You can think of the ROL Index as a measure of life satisfaction and how well you are using your money to live your best life possible. Let’s look at the three categories and some of the resulting conversation points.

Consider these two scenarios: Mark spends lots of money on trips and entertainment. His father was a workaholic who never took time to really enjoy what he had earned. Nancy never feels she saves enough, despite the fact she is a millionaire. She grew up in a large family that constantly struggled to make ends meet; at one point the family was homeless. Both examples illustrate the impact your individual backstory can have on how you think about money and investing. These stories are an essential part of your Financial Philosophy. Have you ever thought about how and why you make money decisions as you do? Before talking about strategies, tactics, allocations, and categories, it is essential that we both understand how you think about investing and money matters. Every decision we make involves both money and values. Financial Philosophy is understanding the connection between the two and using that connection to make the right decisions when it comes to investing. Understanding your own Financial Philosophy begins with answering a series of questions designed to help you develop a plan that works for your unique set of values and circumstances: Debt: How much debt do you have? Are you comfortable with that level of debt? Savings: How much savings do you have? Are you comfortable with your level of savings? Spending: What is your level of spending? Are you comfortable with your level of spending? Giving: What is your level of charitable contributions? Are you comfortable with your level of charitable contributions? Stock Market: Does investing in the stock market make you nervous? Are you comfortable with your level of investment in the stock market? Insurance: How do you feel about insurance? Are you comfortable with your level of coverage? Children: What is your attitude regarding supporting your children? Do you expect them to earn their own way, or do you want to give them every advantage? Somewhere in between? Are you comfortable with what you can provide them? Retirement: When do you plan to retire? As soon as possible? Never? Somewhere in between? Are you comfortable with your current retirement plan? Answering these questions completely and honestly will help us ensure that your plan supports your values.