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Now might be an ideal time to plan ahead financially for you and your family.
Independent Financial Advisor and Partner of Clarke Nicklin Financial Planning, Scott Herbert discusses the benefits of having a plan in place for a healthy financial future.
‘The main message is ‘don’t delay!’ Scott emphasises ‘Set objectives of where you want to be, when you need to start and how. Do it now and don’t procrastinate as another six months will go by.
‘For a healthy retirement fund establish how your pension is performing and whether you need to top it up, consider what age and what level of income you wish to retire at. Bearing in mind there are differing factors as to what it’s worth when you actually retire, such as at what age you retire and start drawing your pension.
‘To build up a healthy investment plan firstly consider your attitude to risk. The higher levels of return have a higher risk factor due to the more volatile sectors and regions that are targeted whereas the more cautious have a lower return.
‘Think about your long-term financial future. You are at the centre of your financial plan: your goals (both short term and long term), your situation, and your financial strengths and challenges.
‘Over time, both markets and your lifestyle can change dramatically. Therefore it’s important to keep your pension and investments under continual review to get the most out of them‘.
At the end of the day your financial future is in your hands, if you would like any further advice or to come and have a chat with Scott or his team for a no obligation meeting please contact us on 0161 495 4700 or email katha@cnfp.co.uk.
A PENSION IS A LONG-TERM INVESTMENT. THE FUND VALUE MAY FLUCTUATE AND CAN GO DOWN, WHICH WOULD HAVE AN IMPACT ON THE LEVEL OF PENSION BENEFITS AVAILABLE.
YOUR PENSION INCOME COULD ALSO BE AFFECTED BY INTEREST RATES AT THE TIME YOU TAKE YOUR BENEFITS. THE TAX IMPLICATIONS OF PENSION WITHDRAWALS WILL BE BASED ON YOUR INDIVIDUAL CIRCUMSTANCES, TAX LEGISLATION AND REGULATION, WHICH ARE SUBJECT TO CHANGE IN THE FUTURE.
THE VALUE OF INVESTMENTS AND INCOME FROM THEM MAY GO DOWN. YOU MAY NOT GET BACK THE ORIGINAL AMOUNT INVESTED.
