Peace of mind is a phrase that’s used a lot, particularly by financial organisations.  Here at Robson Laidler Wealth we would say that it’s about understanding where you are, where you want to get to and how to get there.  Inevitably, this gives you confidence about the future, and that’s got to be good for your mental health!

Of course we would say that great financial planning is important – why?

  1. It helps you focus – having that appointment in the diary to talk to someone else means that you stop procrastinating.
  2. Someone will help you articulate what is important to you – we are all different with different priorities and different budgets.
  3. Options – it’s your money and your life, a financial planner will not tell you what to do. They’ll give options to show you the pro’s and con’s of taking that action.
  4. Understanding – for us, it’s all about financial education. They should teach it in schools!  We want our clients to have a good understanding of tax, how pensions and investments can work for them and about investment risk.
  5. Thinking ahead – a good financial plan can help you make those big decisions like….can I afford to send my children to private school and still retire at 60? How much can I realistically afford to save into a pension and what meaningful income will it give me and when? Should I invest or repay my mortgage or both?
  6. Thinking about the What If’s? – what would happen if I was made redundant, unexpected death in the family etc. Should I use some of my budget for protecting my family against the ‘What If’s’ and how much should I allocate.  What if the global stock markets drop in value, how will that affect my plans?