A financial plan will guide you calmly through volatile markets

No one can deny we’re living through incredibly precarious times. Who could have predicted the unfolding of Covid-19 and the impact on our freedoms, wellbeing and economy?

Some businesses have been decimated in recent months, markets are volatile, house prices kept high by the stamp duty holiday, tax rises are likely soon. All this underpins the value of a healthy personal financial plan which allows you to hold firm to your medium to long-term goals, whatever is happening around you.

The role of the personal financial plan

For the individuals and families we work with, the personal financial plan works as the guide and compass when times are good and bad. You can’t control the economy or the markets, but you can control your reaction. A good financial plan enables you to hold steady to your goals, making you less likely to react to changing circumstances. Stability, long-term thinking, control – these are all huge benefits of having a personal financial plan in uncertain times.

“When we take people through our WealthPlan™, we usually see them breathe a sigh of relief. Not only do we show them how to bring their hopes and dreams to life, we also help to mitigate risks and fears and plan for rainy days. It’s an incredibly liberating experience – peace of mind is true financial freedom.

“A solid plan will ensure you live life to the full, now and in the future.”

Dominic Baldwin, CEO

The undeniable fact is that the sooner you set up the processes to understand and manage your personal finances, the more you will have to enjoy now and later on in life, and the less you’ll have to worry about when forces beyond your control, such Coronavirus, take hold.

It starts with a vision…

The advantage of having a personal financial plan is that it gives you the freedom to imagine what your ideal life would look like. Your plan will help you understand your financial position both now and in the future so that you can realise your life goals. Whilst you’re still working/building a business, you can decide if your financial situation will deliver the life you want, and if not, you’ll still have time to do something about it!

It allows you to plan ahead…

You can also plan for the times ahead of you in life’s journey when you’re likely to have increased expenditure, such as moving house, your children going to university, or even splashing out on a trip you’ve always wanted to take.

Reduces stress and worry…

You can also mitigate any risks you face by assessing the need for things like life insurance and addressing inheritance tax planning, removing the stress so that you and your family can get on with enjoying life.

But, perhaps most importantly, it helps you keep your lifestyle plans front and centre as your review meetings with us will always entail a discussion beyond your wealth. Good financial planning is always about helping clients to use their wealth to enjoy life.

Your plan will help you to continually review:

• What should you spend, invest and save now to live as you wish?
• Are you on track to finish work when you wish?
• What financial commitments do you have in future and are you on track to meet them?

With a well-considered personal financial plan, it doesn’t matter what’s happening in the world, you stay in control.

If you need help to set up a sturdy and resilient personal financial plan that will ensure you can live your desired lifestyle, please get in touch for an exploratory discussion. By putting you first, we help you and your family get more out of life by properly managing your most important resources – your money and your time.