If you were asked to drive from Paris to Rome would you just get in the car and hope for the best, or would you buy a map and plan your route so that you have an idea of how long it will take, and can plan for detours – both chosen and unexpected?
For almost all of us, the answer would be to buy a map. Then why is it that so many people can go to the trouble of planning a trip, but put little or no preparation into securing their (and their family’s) financial future? You work hard for your money, make it work hard for you.
With a Financial Planner you can work out your net worth and cashflow, list your goals and objectives, and calculate what you need to do now to achieve them, and it may well be the most sensible investment you’ve ever made.
Financial planning is not about painful commitment – it’s about structure, flexibility, common sense and choice – with the aim being to get yourself into a position where you can wake up in the morning, say “I don’t want to do this anymore”, and being financially secure enough not to have to.
Before visting a financial advisor you can ask use the headlines below to get an idea of what you should be thinking about.
Assets & Liabilities
Take a look at your overall net worth.
Incomings and Outgoings
Calculate your cashflow with our budget planner and see what you have to work with.
Goals and Objectives
Early retirement? Further education for the kids? Property? Decide on what, when and how much.
Plan and Provide
Use planning tools to calculate what you need to save now to meet your future requirements.
Risk and Return
Looking to protect your capital or want to go for higher risk and return? See if managed services match your profile.
Get an overview on what you’ve got, what you want, what you have to work with, and what you need to do to achieve your objectives.
Plan for the future
Governments around the world are finding it harder to cope with longer life expectancy with an increasing percentage of national wealth being needed to support those in retirement. It is a hard fact that some countries will not be able to provide a state pension in the future. Pensions are reducing in real terms and in the private sector, many companies are being forced to place restrictions on their pension funds to protect existing members and pensioners.
Personal financial planning is now a requisite rather than a luxury. Sadly, one can no longer live for today and worry about the future tomorrow.
How important is your child’s further education and future employment prospects?
The cost of University in the UK is now estimated at more than £15,000 per year (for fees and living costs) and increasing. College fees in the US are estimated to be rising at a dramatic 14% per annum. With costs such as these you need to plan ahead.
Tax-efficient savings plans can be designed to make your money work as you earn it, and provide you with access to funds at the times you need them.