Call Richard Cook: 07770 575 122

email: richard@theinvestmentandretirementcoach.co.uk

Indy Special. Some financial planning tips for your Indy journey

Now that you have joined this community the probability is that you have reached a point where you need to pay attention and take your financial planning seriously, Whether you are making up for lost time or have done well and are wondering whether your investments/pensions will give you the lifestyle you want the situation is the same.

This is your money. No-one will give it as much attention as you and you need to get it working hard for you.

So here are a few tips to send you on your way.

#If you are fortunate enough to have savings the first thing you need to do is to work out how much needs to be set aside to form your emergency fund and to deal with planned expenditure over, say, the next two years.  That money should never be invested in any shares/funds which fluctuate in value.

Anything which is left over should be allocated to your medium/long term investment strategy and needs to work hard for you. if you can live with short term fluctuations in value it can be working well for you.

# ISA or Pension is a question I am often asked. In broad terms an ISA benefits from tax benefits and flexibility (Stocks and Shares ISA for your medium/long term funds) whereas the pension fund has even more tax benefits but a lack of flexibility. Both will work well for you in the right circumstances.

# Is it too late to think about a pension? Not if you are under 75. If you are over 55 it has ceased to be a pension plan and is now simply the most effective savings plan you can get. If you are over 55, a higher rate tax- payer, and not maximising pension contributions the chance is that you are missing out big time.

# Don’t ignore those old pension plans and make sure there are none you have simply forgotten about. There are billions sat in unclaimed pension plans. Is any of it yours? It may not be a lot of money, but every penny counts and the chance of it being sat in a fund which is doing well for you is virtually nil. Moving those plans into a modern, user friendly, on-line plan is dead easy and well worth it.

#If you have an existing adviser be sure to understand the fee structure, Good advice/guidance is always worth paying for but I come across many people who have no idea what they are paying and when we investigate we discover it is far too much.


Final thought. It’s your money and it deserves your attention. If you ignore it don’t be surprised if it ignores you and you don’t make as much as you would like. 


This document and our on going services are not personal advice. We'll give you all the help and guidance you need to make your investment and retirement decisions, but we can't advise you. If you're not sure whether you need regulated financial advice we can put you in touch with a suitably qualified and experienced regulated adviser. Because we are not regulated by the Financial Conduct Authority you will not have access to the Financial Ombudsman Service in respect of any complaints. If you use one of the "no advice" on line services to handle investment transactions they will be Regulated and you will have access to the Ombudsman and The Financial Compensation Scheme in respect of their services. The value of investments/pension plans can fall or rise depending on market performance. The Retirement Team and The Investment and Retirement Coach are trading names of Capture Success Ltd Reg No 01825075 Tel 07770575122

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