In difficult times like this, it is often the view of financial professionals to role out the mantra “to do nothing and stick to your plan” I politely disagree, now is the time to get very busy to help you navigate and make the most of this challenging situation.
While a windfall any time is a blessing, it can feel like a curse when there is family rancor and stressful decisions. If you follow some simple steps, it can make a real difference to your family’s happiness and wealth.
Raising a family can be costly but there are still ways you can manage to save. Managing your family’s finances needn’t be a complicated affair, sometimes the simplest tips can make a difference to your
In my profession, when I mention the topic of retirement to people it can often generates a mix of resignation/denial or fear. Many us will have seen older family and friends with declining health, unattractive lifestyles and living on reduced incomes. Unsurprisingly many of us hate thinking about retirement, never mind planning for it.
Often when I introduce the idea of building a financial plan to people it is regard as an alien concept, but in fact, it is one of the key steps to successfully building your wealth. That is not to say that people do not have financial plans but very few people have it written down and even less have crunched the numbers.
Investing should always be viewed as a long-term endeavour. And that means being in the market through its inevitable ups and downs.
Given the very recent challenging economic and operating environment the focus for many self employed is on business survival rather than wealth accumulation. Hence personal financial planning has taken a back seat to the everyday challenges of running a business in a recessionary environment.
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