A new year is often the time when we step back and assess where we are in our lives and where we are actually heading. Do you want to be doing the same thing in 5 / 10 years or do you desire changes, enhancements and improvements, a better quality of life perhaps?
Should you own a car, you would have an MOT every year, however when was the last time you carried out an MOT on your finances?
What would your financial MOT test show up?
- Not enough life assurance for your family
- No income cover should you fall ill
- Insufficient income for retirement
- Past pensions never reviewed
- Paying too much for something
- Existing funds not performing above average
- Still sat in closed funds
- Interest rate lowest around on savings
- Mortgage rate too high
- Not using all the available tax allowances
- Still not made a Will
Take action today and arrange 'a financial health check' on yourself. The Financial Services industry is always changing and evolving. Contractors will either go it alone, or they will seek advice from a professional adviser operating under the Financial Conduct Authority (FCA), ensuring customers are treated fairly.
Going it alone and choosing your own product and investments funds may appear attractive, as often the costs are lower. However, which pension product is going to be the most suited, which funds should you invest in to meet your approach to risk and how should you structure the planning?
Through the adviser route, you have the protection of the FCA and the investor’s compensation scheme, should things go wrong. What would you do if YOU got it wrong by going it alone?
Be prepared to fail - if you fail to prepare.
Haven financial advisers are PayStream's in-house financial advisors and can provide that all important advice for their contractors, so make use of our expertise and arrange that important financial health check, contact Haven on 0161 923 0009.