Protecting Your Financial Future

Protecting Your Financial Future

What do we mean by protecting your financial future? Generally, this means preserving your hard earned wealth to enable you to live the life you want – particularly in retirement and helping future generations of children and grandchildren to achieve some of their life goals and aspirations. A globally diversified, risk appropriate portfolio can help to minimise financial worry and work to achieve your goals. It is helpful to think about some of your values ahead of creating a financial plan, so that your thought process is clearly communicated and a plan is constructed with these values in mind.

There are key questions to consider though when working with a financial adviser, ones which we will often address with our clients to help them plan accordingly, but also to prepare them for life’s little upsets and unexpected challenges.

  • What are my financial goals?
    • To be mortgage free, to provide an inheritance for my children, to be financial independent?
  • How can I support my family in my lifetime and after my death?
    • House deposit, inheritance tax planning, educational gifts?
  • How much do I need? 
    • If I give away money in my lifetime, is there a risk I will run out? What if I don’t spend enough? Does that have implications for my beneficiaries?
  • What do I need to put in place to ensure my family is looked after?
    • Do I have a valid will?
    • Do I have LPAs in place?
    • Do my family know about my financial planning?
    • Have I completed expression of wish forms?

Interestingly, during an initial meeting with a financials adviser, the detail of investments are rarely discussed, whereas purpose and meaning are explored to ensure these are captured in a comprehensive financial plan which can be communicated clearly to those around you.

This article is for information purposes and should not be treated as advice. Individual circumstances should always be considered prior to purchasing any financial products. For further information please contact your Financial Planner.

If you want to know more about how our financial planning process can help you, or perhaps want a second opinion on your own planning or investment strategy please get in touch:

020 8943 9229 | |