Fiducia Wealth Management

While deciding on the best fund, tax regime, pension or investment is a necessary part of the financial planning process, it’s crucial to understand what these mean to you – and your lifestyle makes it even more relevant and real.

Time Horizon

The minimum time horizon for all types of investing should be at least five years, and whatever your personal investment goal may be it is important to consider the time horizon and outset, as this will impact the type of investments you should consider to help achieve your goals.

To make this a reality, you need to ask yourself three main questions: ‘What resources are available to me now?’, ‘What resources will I have in the future?’, and ‘What will I need to have to achieve my goals?’

Wealth Creation

Setting investment goals simply means deciding what you want to do or achieve in a certain time frame. Setting meaningful financial goals is the basis towards achieving your financial freedom. Goal setting play such an important and integral part of the wealth creation journey.

Some people may spend a considerable amount of energy and time focusing on their financial situation, but the majority won’t have specific financial goals. They may have heard about the importance of goals but probably haven’t spent the small amount of time required to really focus on the specifics.

Logical Process

Goal setting is a logical process and can be done in whatever way works best for you. It may sound obvious, but initially write down your goals. Whether you use paper and pencil or your smartphone or tablet to record your thoughts, it is vital to make sure you write your goals down so that you can review them at a later time.

It also makes sense to revisit your goals at regular intervals to account for any changes to your personal circumstances, for example, the arrival of a new member of the family.

Ensure your goals are:

  • Specific – make each goal clear
  • Measurable – frame each goal so that you know when you have achieved it
  • Achievable – you need to be able to take practical actions to achieve a goal
  • Realistic – a goal must be relevant and realistic to achieve
  • Timely – you should assign a time frame to each goal so you can track progress and achievement.

Desired Lifestyle

So, first you need to identify what your desired lifestyle is, then establish how to achieve that plan and maintain the desired lifestyle. It’s important to think beyond where you are today and look to the future and visualise the possibilities of living without any financial worries.

This might mean outlining all the things you want to do in the future, without the risk of leaving it too late or dying with too much. To achieve this, you need to structure your affairs today to provide for the income you’ll eventually need while investing in a way that helps to retain the purchasing power of your capital.

Ongoing Advice

Working through this process of setting financial goals will help you to define the life you want, and with our ongoing advice we will make the recommendations to show you what can be done to ensure that you live your desired lifestyle. If it’s been a while since you took a close look at your financial plans and goals and you would like to review your situation, please call us to book an appointment with one of our Fiducia Wealth Management advisers on 01206 321045.

Article first published by Goldmine Media Limited  2016 and features in the Fiducia Money September/October 2016 issue on page 9.

If you would like to know more about how we as Financial Advisers can help you set, plan and achieve your financial goals then financial planning section of  our website: Financial Planning or send us email at: email@fiduciawealth.co.uk

The information contained in website is for guidance only and does not constitute advice which should be sought before taking any action or inaction. The information is based on our understanding of legislation, whether proposed or in force, and market practice at the time of writing. Levels, bases and reliefs from taxation may be subject to change. Accordingly no responsibility can be assumed by Fiducia Wealth Management Limited, or any associated companies or persons, its officers or its employees, for any loss occasioned in connection with the content hereof and any such action or inaction. Professional financial advice is necessary for every case.

Fiducia are an award winning firm of Financial Advisers based in Dedham near Colchester situated in the heart of Constable Country on the Essex Suffolk border. www.fiduciawealth.co.uk

Fiducia Wealth Management Ltd. Dedham Hall Business Centre, Brook Street, Dedham, Colchester, Essex, CO7 6AD.

Fiducia Wealth Management Ltd. is authorised and regulated by the Financial Conduct Authority. FCA No. 408210

If you would like to know more about how we as Financial Advisers can help you with your or a loved one’s Long Term Care needs and general latter life planning then visit the Later Life Planning section of our website: Later Life Planning  or send us email at: email@fiduciawealth.co.uk

The information contained in website is for guidance only and does not constitute advice which should be sought before taking any action or inaction. The information is based on our understanding of legislation, whether proposed or in force, and market practice at the time of writing. Levels, bases and reliefs from taxation may be subject to change. Accordingly no responsibility can be assumed by Fiducia Wealth Management Limited, or any associated companies or persons, its officers or its employees, for any loss occasioned in connection with the content hereof and any such action or inaction. Professional financial advice is necessary for every case.

Fiducia are an award winning firm of Financial Advisers based in Dedham near Colchester situated in the heart of Constable Country on the Essex Suffolk border. www.fiduciawealth.co.uk

Fiducia Wealth Management Ltd. Dedham Hall Business Centre, Brook Street, Dedham, Colchester, Essex, CO7 6AD.

Fiducia Wealth Management Ltd. is authorised and regulated by the Financial Conduct Authority.. FCA No. 408210

If you would like to know more about how we as Financial Advisers can help you secure peace of mind by ensuring your family are well protected in all eventualities  then visit the Protecting Your Family section of  our website: Protecting Your Family or send us email at: email@fiduciawealth.co.uk

The information contained in website is for guidance only and does not constitute advice which should be sought before taking any action or inaction. The information is based on our understanding of legislation, whether proposed or in force, and market practice at the time of writing. Levels, bases and reliefs from taxation may be subject to change. Accordingly no responsibility can be assumed by Fiducia Wealth Management Limited, or any associated companies or persons, its officers or its employees, for any loss occasioned in connection with the content hereof and any such action or inaction. Professional financial advice is necessary for every case.

Fiducia are an award winning firm of Financial Advisers based in Dedham near Colchester situated in the heart of Constable Country on the Essex Suffolk border. www.fiduciawealth.co.uk

Fiducia Wealth Management Ltd. Dedham Hall Business Centre, Brook Street, Dedham, Colchester, Essex, CO7 6AD.

Fiducia Wealth Management Ltd. is authorised and regulated by the Financial Conduct Authority.. FCA No. 408210

If you would like to know more about how we as Financial Advisers can help you  with your Pensions and overall Retirement Planning then visit the Retirement Planning section of  our website: Retirement Planning  or send us email at: email@fiduciawealth.co.uk

The information contained in website is for guidance only and does not constitute advice which should be sought before taking any action or inaction. The information is based on our understanding of legislation, whether proposed or in force, and market practice at the time of writing. Levels, bases and reliefs from taxation may be subject to change. Accordingly no responsibility can be assumed by Fiducia Wealth Management Limited, or any associated companies or persons, its officers or its employees, for any loss occasioned in connection with the content hereof and any such action or inaction. Professional financial advice is necessary for every case.

Fiducia are an award winning firm of Financial Advisers based in Dedham near Colchester situated in the heart of Constable Country on the Essex Suffolk border. www.fiduciawealth.co.uk

Fiducia Wealth Management Ltd. Dedham Hall Business Centre, Brook Street, Dedham, Colchester, Essex, CO7 6AD.

Fiducia Wealth Management Ltd. is authorised and regulated by the Financial Conduct Authority.. FCA No. 408210

Fiducia Wealth Management