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Personal finance can be a complicated subject. There’s a lot to think about and to plan for. This often includes, but is not limited to: budgeting, saving, investments, loans, insurance at home or for a business, and retirement. Luckily, financial planning can be simplified with the help of a financial planner with extensive knowledge and industry experience.

In this blog post, we will take a closer look at what financial planning is, how a financial planner can help you, and the benefits of planning your finances for yourself and those around you. 

What is Financial Planning?

Financial planning is a process of understanding your financial circumstances, goals and objectives. High quality financial planning will take into consideration the present and the future, so that you can make informed decisions to achieve what’s possible, no matter what happens for you and your family. It will also answer questions like: Can I take early retirement? If so, will I have the lifestyle I want to have? Can I afford to buy a bigger house? 

Benefits of Financial Planning

There are many positive outcomes from financial planning. These range from alleviating stress and worry about your financial future, as well as, providing concrete changes to your lifestyle both now and later down the line. Some of the common benefits include: 

Better awareness of your finances 

Having a financial plan will ensure you are always aware of your current financial situation. This includes where your money is invested or saved and how much of it is available to you at any moment. If any emergency arises where you need to spend more money than usual, you’ll have confidence that the funds are accessible to you.

Achieve your financial goals and increase financial security

Financial planning helps us to set goals to aim for. When individuals have clear goals in mind, it gives them something to focus on and a clear direction to go in. This focus also reduces any uncertainty around your financial future.

Early retirement

Early retirement is the dream for most people. A financial plan allows you to understand how much money you will need in order to retire early and whether it’s achievable for you. This means you can then plan accordingly. Unfortunately, without a proper plan, most people are left working for the maximum amount of years or even longer.

What Can A Financial Planner Offer?

In short, financial planners are professionals with in-depth knowledge, skills and experience  in the financial industry. A good financial planner will look at each case independently in order to get to know your situation and advise accordingly. They’ll also take into consideration external factors like tax, regulations, and potential risk. Their experience means they can make solid judgements and respond to any changes. Once they have come up with a plan for your finances, they’ll meet with you regularly to keep everything on track.

A financial planner can also help you with: 

  • Pensions and retirement
  • Savings and ISAs
  • Investment advice 
  • Mortgages and equity release 
  • Inheritance tax 

Helping You With Financial Planning

“I have found Ben to be dedicated, passionate and extremely knowledgeable with regards to the advice he has given myself and my partner in financial matters.” 

“Ben has explained in detail the number of options we had when deciding what to do with regard to our pensions and future investments. The way that he explains in detail means you can make a considered opinion based on sound advice. I would not hesitate to recommend his services which I have already done on a number of occasions to close friends.”

Our promise is to listen to you, and to understand your circumstances, so that we can provide you with the best financial advice. We love getting to know our clients in person, so that we can build strong relationships. If you have any questions or would like more information on financial planning, please do not hesitate to get in touch with us via our contact form or by calling 0161 969 1703.