Josh Gupta, CFP™ Chartered MCSI
Chartered Wealth Manager/Planner
Posted in Fiducia News on 11.05.20

What doesn’t get measured doesn’t get improved. Therefore, we at Fiducia Wealth recommend at least one comprehensive annual review. The big idea is to revisit your personal circumstances and check if our strategy needs to be altered.

Perhaps recent events have already had a profound impact on your finances which have left you a bit confused or made you realise that it’s now time to explore clever financial strategies in line with the fast paced developing very dynamic environment? Considering a comprehensive  financial health check can prove to be a very useful exercise.

Cash flow planning forms the backbone of a holistic long-term plan and can be a very useful tool in volatile markets. Nobody knows how your investments will perform in the next couple of weeks, but a more realistic assumption can be made on what your investments might look like in the next 15 years.

The basic question I get asked often is ‘will I have enough money in my retirement?’ or ‘will I have enough to retire at 65 or before?’ Or, my current favourite, ‘will COVID-19 eat all my retirement savings?’ As you know, these are not straightforward questions with a yes/no answer. Working with a financial planner can help you find answers to these questions and provide some comfort. Most people are worried of what would happen in a few years’ time. You are not alone.

Once we collect all the relevant current and future projected data (Income, Expenses, Assets, Liabilities, Lifestyle), a realistic discussion is held and, by using specialist cash flow software, we can then predict if an individual or a family is on track to a dream retirement. You may be ahead or a little behind on achieving a magical personalised figure with which to retire. Either way, we can help you set up an initial plan and/or continue to work with you over the next few years to make sure your goals are achieved.

With a clear future vision, people generally feel more confident and are more likely to stick to their long-term plan and continue to make well informed decisions. A lot of my clients now look at market volatility as an opportunity rather than worrying too much about the short term. This of course depends on personal circumstances.

Cash flow planning doesn’t constitute advice nor is it an investment product, but it’s a model of projections based on numbers. Compounding plays an important role in wealth accumulation to passive investors and is a fundamental feature of financial planning.

The following video explains the basics of compounding: https://www.youtube.com/watch?v=7zf7zob1Xdc

If you feel that you could benefit from professional advice on cash flow planning, wealth management or any aspect of financial planning, then do please contact me at Fiducia. I would be delighted to provide a free no obligation initial meeting.

 

Josh Gupta, CFP™ Chartered MCSI
Chartered Wealth Manager/Planner
Posted in Fiducia News on 11.05.20

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