A new year is an ideal time to organise your finances.
Financial wellbeing involves having a healthy relationship with your money, whilst feeling secure and in control of your finances. It allows you to maximise your resources while being prepared for the unexpected. Here we take a closer look at some key steps you can take to secure your financial future, protect loved ones, and boost your wellbeing – all valuable resolutions for the year ahead.
Your pension
How is your retirement plan shaping up? Reviewing your pension, including the assets it’s invested in and the level of contributions you’re making, is a great way to ensure you’re on the right path. By taking these steps now, you’ll be better positioned to enjoy the retirement you deserve.
Keep your beneficiary forms up to date
Regularly updating beneficiary forms for your pension and other assets ensures they reflect your current wishes, helps avoid unnecessary complications and ensures a smooth transfer of assets.
Secure more for your loved ones
By placing your life insurance policy in trust, you ensure that the payout remains outside your estate, making it exempt from Inheritance Tax (IHT). This straightforward step maximises the financial support your beneficiaries receive, giving you peace of mind and them a greater benefit.
Involve your family
Engaging your family in financial discussions ensures everyone is aligned with your long-term thinking and strategy. It promotes clarity, minimises potential misunderstandings, and fosters a sense of shared financial responsibility.
Think long term
Focus on a long-term financial strategy and avoid hasty decisions. With our guidance, you can create a comprehensive financial plan that provides peace of mind for you and your family. We understand the importance of taking control, having open conversations, and making small, impactful changes. Life is demanding, but together, we can face 2025 with confidence and clarity.
It is important to take professional advice before making any decision relating to your personal finances. Information within this article is based on our current understanding and can be subject to change without notice and the accuracy and completeness of the information cannot be guaranteed. It does not provide individual tailored investment advice and is for guidance only. Some rules may vary in different parts of the UK.