Make time for those big decisions

With shops and businesses starting up again, and some children back in school, life is returning to normal. With that comes old pressures. Make time for those big decisions, and yourself.

The coronavirus lockdown has impacted everyone is some way or other. For some, life and work has continued in some form, while for others everything has stopped. Most people fall somewhere in between.

Mental and physical health have been severely tested, and the impact on people’s finances across the UK has varied considerably.

Whether it’s pensions, investments, estate planning or maybe help with college fees, it’s vital that such important decisions are not left on the back burner.

Putting off important decisions

Fascinating research last year by Scottish Widows highlighted that over four million people in Britain say that they do not have sufficient mental capacity to make good decisions.

Put simply, they believe that they have too much going on already and defer making the profoundly important decisions – often about money, savings, pensions and other longer-term investments.

Worryingly, another 6.4m people admit that they dismiss important admin decisions because other things fill their time.

This could mean securing better mortgage deals, switching to zero interest credit card deals or finding savings accounts that give better rates of interest.

When margins are fine, hunting down the best offers can make a huge difference over two, three and five years.

Monies saved would be better served earning interest, growing over time towards retirement or other significant periods of family life.

Stacking priorities in the right order

What’s the best smart phone on the market, how many miles can you get from a full charge in the latest electric cars, and what holiday deals will give best value when all lockdown restrictions are lifted?

All important topics, and all areas that people are prepared to invest time to research the necessary information.

However, it should not be at the expense of topics that can affect how you and your family live – now and in the future.

Over 50% of people surveyed admitted that they had looked in depth at the things listed above. Compare that to a mere 29% who had given proper thought to their pension!

The concern is that too many people are avoiding decisions about potentially life changing issues.

Is that you?

Are you one of the 50%-plus (Scottish Widows research) who have not made time to think about and purchase critical illness cover?

With so much going on, and so many things changing because of the coronavirus pandemic, it is too easy to put things off.

Even where issues are seemingly complex, such as financial investments, there is always help available from a trusted independent financial adviser.

Start making time – now!

Whatever the pressure, Logic Wealth Planning can help you understand what is important to you. No matter what stage of life you are at, we’ll help you look at the big picture.

Don’t let pressures mount. Act now. Come and start the conversation that could bring peace of mind to you and your family.   

Call us on 0808 1234 321 or email info@logic-wp.com to arrange a convenient time to chat about your circumstances.

Please be aware the value of investments or income from them can fall as well as rise. We are here to help you make informed decisions as you put important things in place for you and your family.

* Logic Wealth Planning provides independent financial advice in Manchester, Bury, Rochdale, Cheshire, and the surrounding area, but not limited to the region.