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Are you Financially Ready?
Transcript of Are you Financially Ready?
Cost of buying a new property
£125,000 - £219,950
Kids at University
MRA Can Help You
We will help you identify what's important to you, the things that you want to achieve in your lifetime.
We will carry out a lifestyle financial planning analysis. Not only are the details of your income, outgoings, assets and liabilities considered, but resources that may become available to you in your lifetime.
This gives an accurate measure of your net worth and current and future financial situation.
They help you estimate the cost of the life you want to enjoy in years to come.
Buying a brand new Car
2 years servicing = £1000
Road tax = £30 p/a
Running= 10,000 miles p/a
with a 40 litre tank = £56
Cumulative total cost to drive for 5 years.
Tax figures based on a Renault Scenic 1.5ltr 5dr
All numbers are based on 2 years after the warranty expires.
Cost of first property
and taking out a mortgage
£160 per week
Cost of raising a child until age 18
Chance of becoming divorced before your 30th anniversary
Cost of a wedding
The average amount of weeks someone is unemployed
4 years of post secondary expenses
up to £27,012 p/a
up to £2,251 p/m
Cost of a single room in private retirement home
Average UK inheritance
Chance of becoming disabled for 3 months or longer
Have to save for an annual income of £5000
Death of Spouse
Average age of widowhood
Cost of long term stay program in a residential home.
Outlive Your Money
Age that 1 spouse has a 50% chance of living to
Average lifetime earnings
South London flat = £125,000 (2 bedroom property)
North London Flat = £219,950 (2 bedroom property)
All prices are from zoopla.com and correct since 09/09/2013
Figures from gov.uk and Brighton and Oxford university
Figures from: dft.gov.uk
Source: moneywise.co.uk, Child Poverty Action Group
Joseph Rowntree Foundation
Source: Clark Park Private Retirement Residences LTD
Nationwide - 60%
Virgin Money - 90%
(what mortgage provider will pay)
Honeymoon based on 10 nights, 3* hotel in Tenerife
Brighton University: £4500
Oxford University: £9000
Brighton and oxford university both studying Computer Science Full time
Office for National Statistics
Source: National Statistics