Does your money need a personal trainer?

12th February 2019

If you’re determined to make 2019 the year you get into shape, you might want to think about giving your finances a makeover too. Sometimes we can all benefit from a little help and encouragement to ensure our finances are fit and healthy. We can help you see things more clearly and put in place the right financial plans for your future.

Toning up your savings

At some stage in our lives we are all going to need savings to fall back on. As we head towards the end of the tax year, it’s a good idea to maximise the amount you’re saving into your ISA. The allowance for the 2018- 19 tax year is a generous £20,000, and the tax benefits are attractive.

Adding pensions muscle

Whatever stage you’ve reached in your working life, it’s worth reviewing your pension provision. Remember, if you want a carefree and comfortable retirement, it’s up to you to provide for it. The state pension will only ever be a safety net and won’t do more than cover the basics.

Maintaining 20:20 vision on your protection plans

It’s worth keeping life policies under review, as over the years your circumstances change. It pays to check you have enough cover for your current situation. There are policies that cover death and critical illness, provide an income if you’re unable to work due to an accident or sickness, and ones that can protect your mortgage payments. If you’ve recently bought a house, had a baby or changed jobs this could mean you need to think about a different type of cover to meet your new needs.

Flexing your investments

If it’s been a while since your investments were checked out, this could be a good time to revisit your portfolio. We will ensure that your investments remain in line with your risk profile and, if necessary, rebalance your assets to ensure you achieve your financial goals.

So, make 2019 the year you keep your financial plan fit and well. Why not schedule a review meeting?

This article is purely for information purposes and does not constitute individual advice.

As a mortgage is secured against your home or property, it could be repossessed if you do not keep up mortgage repayments.

The value of investments can go down as well as up and you may not get back the full amount you invested. The past is not a guide to future performance and past performance may not necessarily be repeated.