You’ve worked for your money, make sure your money is working for you!

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Although I believe commissions will remain part of the process on one level, I have been working on a new financial planning service which I will be offering to new clients over the coming months. Many existing clients have found this a very useful and concise tool in setting out a clear plan for their future. I believe this is a prudent exercise, wanting to know how our future will look and getting the most from our money.

Do you ever imagine what you would like to do in retirement or when your mortgage is paid off or even to retire earlier than you thought?

Some questions and comments I regularly hear when I meet people for the first time are:

  • I know I should save into a pension, but can you explain why it’s better than saving into a savings plan?

  • What will my pension pay me at retirement?

  • I am self-employed, can I protect my income if I am unable to work due to illness or injury?

  • I have pensions from a previous employment, can I get access to them on any level or what can I do with them?

  • I think I have mortgage cover, but I do not know what it does, can you explain it to me?

  • Should I pay more towards my mortgage and if so, what change will it have on my term and interest payments?

  • I don’t understand how a life assurance policy payment affects me if my partner dies.

  • What is the difference between Leaving Service Options and Retirement Options?

Should a person wish to avail of this financial planning service, it involves a simple 3-step process:

  1. You will receive a link to a budget planner where you fill in your personal and financial details. This is a comprehensive budget and will take up to an hour to complete.

  2. You submit the planner and I review and prepare recommendations and advice.

  3. We meet to discuss the results of your budget, your priorities and how you can better manage your money from a savings / pension / life assurance perspective.

Following this, you decide what step to take next. Either way this process will at the very least be an education to anybody who has no current strategy for retirement or savings needs.