Georgina Wright, a Chartered Financial Planner at Abbotstone Financial Solutions, discusses one of the most common concerns faced by clients in their financial planning.
As an independent financial adviser I have found that one of the most regularly asked questions is “Will I have enough?”
“Will I have enough?”
This may be in terms of pensions, investments, savings and income – will there be enough?
Rather than ask “Well, what have you got?” my response is, “What for?” What do you want to achieve now and in the longer term?
Let’s take a different view! It is fairly straightforward to identify what you may need to meet your day to day living costs but there is much more to life than this.
Are you savings for a particular purpose? Perhaps you want a comfortable retirement, to enjoy the cruise (or cruises) of a lifetime, or maybe it’s for a rainy day?
What are your immediate goals?
Financial planning isn’t only about organising and managing your money. Financial planning is about identifying assets, income and expected expenditures throughout life and using these as a foundation, a stepping stone, to fund and reach your goals. To make your life better!
Of course, having money helps but financial planning is about the longer term and you may require advice just to get you started on the savings ladder. It helps a lot more, and goes a lot further if its objectives are planned. This money is taking you on your life’s journey!
Once we know how you want your money to work for you we can start planning a strategy. This is not a one stop shop – the strategy will change over time as will you and working together we can ensure that your financial journey remains on track.
