Financial Planning Week is a nationwide initiative to encourage more people to start conversations about money. To mark the occasion, we have produced a series of blogs giving different perspectives on the issue.
Today, we’re looking at what we really mean when we talk about financial planning.
Let’s arrange a summer holiday! I’d like a nice hotel somewhere hot with a pool, at least two excursions during the week and flights from a local airport. Once all that is sorted, I’ll need insurance too please and someone to look after my dog.
Finally – the countdown can begin! Oh, I’d better go and purchase some new swimwear… (Too much information?!)
I know I said this was going to be about financial planning, but bear with me. What I’m trying to demonstrate with my slightly rambling analogy is that the process we undertake is very like the one you experience when booking a holiday. Although hopefully, retirement will last a lot longer than two weeks in the sun!
Mapping your route to retirement
If you want a five-star, all-inclusive retirement of your dreams, professional financial planning is a must.
We have in-depth conversations with you to help establish your lifestyle goals now and when you’re older (the nice hotel with a pool bit) then using the raft of tools at our disposal, we will forecast your future, based on your current financial position. This highlights any areas we may need to change along the way (your travel arrangements) and allows us to work out exactly how you will meet your aspirations.
Once your plan is in place, we can look at potential bumps in the road that may alter your route to retirement, for example, children, redundancy, illness and so on, then work out how we will get you there, should any of these occur (insurance).
Time to relax? Not just yet!
Keep the end goal in sight
As life moves forward, we all know things change. For this reason, regular reviews of your financial plan are an integral part of our job.
We will make contact with you to ensure we have an up-to-date picture of your circumstances. To keep your retirement on track, we will also ensure wills, Powers of Attorneys and other essential documents are in place.
With the stress of planning your future removed, you can focus the important things in life – spending time with loved ones and enjoying the odd holiday!
Now you can relax. Retirement sorted, swimwear purchased… So, where shall we go??
Start your journey today
There is no rehearsal for life. Make sure you have the means to squeeze every last drop out of it by beginning your financial planning journey early.
To find out more about the benefits of speaking to an independent financial planner or to arrange a free initial consultation with one of our experts, don’t hesitate to contact us on (01246) 298181 or email: enquiries@belmayne-ifa.com
