Your accounts can tell you a lot; whether you’re on track to meeting your goals, which areas need to be addressed, areas you could diversify, where your focus sits, they can also express your values… It’s great having all this insight but if you haven’t plotted out your ultimate destination you could be travelling every road or even retracing your footsteps without knowing it.

The good news is that the plotting element is your chance to ‘play’.

• What big picture are you working towards?
  • What makes you feel good?
  • What would you love to achieve?
  • What do you want to be remembered for?
  • What legacy are you creating?
  • Who are your successors?
  • What does success look and feel like to you?
  • What did you want to be when you ‘grew up’?
  • What would you tell your younger self about your experiences?
  • Where will you be?
  • What will you be doing?
  • When do you want to achieve this by?

• What retirement lifestyle would you love?
  • Who are you with?
  • How are you spending your time?
  • Where are you?
  • How will you feel?

Engage all your senses and add as much detail as you can so that you can start to feel it and build excitement for it. If it doesn’t excite you yet, what’s missing? Can you dream bigger?

‘Your work is such a large part of your life, and the only way to be truly satisfied is to do what you believe is great work. And the only way to do great work is to love what you do.’ Ian Sheekey

As a team we’re passionate about working with our clients to help them meet their, and their loved ones, needs of today and tomorrow. To feel supported, safe and confident in their numbers – these words are also reflected in the result of play:

‘Play is a sign that children feel safe and nurtured and loved. They feel somewhat that they can be children even in the midst of great difficulty.’ UNICEF Executive Director, Catherine Russell

It’s the same for us too – igniting our imagination allows us to creatively and innovatively work around challenges on the horizon and as they present themselves. It can ground us to appreciate the everyday moments and make time for what’s important to us.

Also, working towards something we’re excited about and holds purpose for us can feel much more like play rather than work, and motivates us to keep going. This is why considering your answers to the questions above is so important.

‘Defining your destination – how you want your life to look and feel provides your unique compass to use in business + life. It gives us joy, reasons and milestones to celebrate, and a chance to share our love for what we do and why.’ Ian Sheekey

Once you’ve plotted your destination, it’s time to chat with your accountant. We love number play, to us accounts feel more like putting together the pieces of a puzzle or building blocks, identifying what fits and what doesn’t – all the time working to help guide you to the bigger picture you’re striving to achieve.

Whilst retirement might feel a way off for some, contributing to your pension pot offers significant immediate tax relief:

• In a private pension you can get tax relief on contributions up to £60,000 per annum. It can be up to  100% of your annual earned income and then topped up with a company contribution.
• Salary sacrifice – Offer employees a company contribution to a pension in return for a reduction in their salary. Both the employee and the employer save National Insurance.
• Get your Pensions Forecast – Most people will have paid National Insurance for many years, so find out how many years contributions you have made. You need 35 years of contributions to get the full basic state pension.

When you’re ready to take your pension:

• You can withdraw 25% tax-free, with flexible options for further drawdowns. ‘When you can take your pension depends on your pension scheme’s rules. It’s usually 55 at the earliest.’ gov.uk 

Always speak to your financial advisor for specific pension and investment advice.

Whether you are plotting your destination, or on your journey towards it, if you’d love support let’s talk – we’re here to help you navigate your numbers, plan for the future, and maximise your tax savings to achieve your goals in business + life.