If you’ve decided that 2022 is the year to get a better grasp on your financial plans for now and for the future, here are our top three areas to focus on:
Protection & life insurance
Naturally, we want to ensure that the necessary provisions are made for ourselves and our loved ones. Life insurance and critical illness cover are two things to seriously consider if you don’t already have policies in place.
In one of our previous blog posts, we talked about the value of working with an advisor when it comes to choosing the best protection and life insurance policy for you and your family. It can be tempting to go straight to a price comparison website and select the cheapest deal, however off-the-shelf policies are rarely better than something that’s been tailored specifically to your needs and circumstances. The same can be said of critical illness cover which we talk about in more detail here.
Our team can really add value when it comes to taking out either one of these types of protection. We’ll work with you to get a picture of your needs and then assess which provider offers the best cover. We have great knowledge of the providers and strong relationships with them, which can give you the peace of mind that the policy you’ve taken out will address your needs if you ever need to
make a claim.
With such a wide range of investment opportunities available on the market, it is easy to miss the one that will work best for your circumstances. Our advisors can take you through the options available and advise on which would be most suited to you, depending upon your financial goals.
We talk more about the different types of ISAs available in this blog post and we emphasise the importance of working with an advisor, to ensure you understand and accept the risks associated with these types of investments. We have previously talked about some of the options available for those who have found themselves with some unexpected savings as a result of the lockdown and consistently work with clients who have made some considerable financial wins as a result of some strategic investments.
Something we are consulted on a huge amount, pensions can seem daunting but there is huge value in taking the time to understand and invest in your pension as early as you can in your career. We discuss this more in this blog post, which covers advice on pensions for business owners and pensions for tax relief.
As average life expectancies increase, the importance of an adequate pension pot increases in parallel. It’s a fact that many retirees can find themselves in a situation where their pension pot does not stretch for as long as they need to enjoy a comfortable life.
Keeping track of your pension and looking to consolidate multiple pensions into one pot is a good starting point if you want to ensure you’re financially ready for retirement. Our team can help you by reviewing your pensions and advising on how to make the most out of them; we talk more about this here.
Carrying out a thorough assessment of your financial health and making the necessary changes to make your money work hard for you could be the best decision you will ever make. If you would like some help with any of the topics covered here or any other aspects of your finances, chat to us today to book an appointment with one of our advisors.