Financial Planning for 2016!
Happy New Year!
Now that the festive season has passed, it’s a good time to think about the financial resolutions we should all make and aim to keep in the coming year.
Sensible financial planning is vital but where do you start and how?
Here are a few things to consider –
- PENSION PLANNING
It seems unlikely that the state pension will ever represent more than a safety net for most people, and should in itself be one of the strongest incentives to any individual to make adequate pension provision on their own behalf. So review your pension regularly and aim to contribute as much as you can comfortably afford and are allowed to tax-efficiently under current legislation.
With the continuing uncertainty about the future level of interest rates, it’s easy to overlook the need to review your mortgage. Those on standard variable rate mortgages often end up paying this rate by default once their fixed or tracker deal finishes. If your current deal is about to end, ask us to review your options.
- MAKING A WILL
Anyone with a family should have a valid Will in place. If you die without having made one, your wealth will be distributed under the rules of intestacy. This can mean that those you might have wanted to inherit could receive nothing. If you already have a Will, it’s worth considering if it needs updating.
- KEEPING FINANCIAL PLANS UP-TO-DATE
Last year saw major changes in financial legislation, and your plans and goals may have changed too. It makes good sense to organise a full review with a Financial Adviser to help ensure that your savings, investments, pension plans and life insurance needs are all properly taken care of.
A New Year is a great opportunity to get good independent financial advice, perhaps starting with a complete review of all your finances.
Why not take the first step by arranging an initial free, no obligation appointment with one of our Financial Advisers?