Keep_CalmThe referendum has happened and none of us know what’s in store for the UK over the coming years – financially, economically, politically, socially….but to what extent do we ever really “know”?

Change is always a feature of life, and whilst we may experience some fairly dramatic impacts in the short-term, it’s always been hard to predict the future a few years out.

No matter whether you’re feeling concerned or excited about the future prospects, there are 3 simple steps you should take in respect of your personal finances:

  1. Don’t knee-jerk into making any dramatic short-term changes. There will be volatility in investment markets over the coming months – but this is the nature of investing, there are ALWAYS periods of volatility. Remain focused on your own personal financial goals, and the medium to longer term. If you don’t have a specific need for your invested money during the next few years, just leave it be, let events unfold, and seek advice as required (see point 3!).
  1. Ensure you do have a medium to long term plan, particularly in respect of your retirement planning. Most people don’t understand their pensions – they are not aware of their current values, or what level of income they will generate in future. Now is a great time to work with a financial adviser to audit your old pensions and get advice on how to achieve the income you want to live on in future.
  1. Take good financial advice from a trusted adviser on an ongoing basis. You will need regular reviews of your financial plan as things change – these may include interest rates, mortgage rates, investment returns, income tax rates….the list is potentially long! One change can trigger other connected outcomes, so working with an adviser who understands how everything links together, will help keep your own personal plan on track.

By following these steps, you should feel more in control of your own destiny because you will be clear on your own goals and what you are working towards from a financial point of view.

To receive a complimentary guide covering Wealth Management, Retirement Planning or Inheritance Tax Planning, please contact Amanda Redman on 07801 045587, email amanda.redman@sjpp.co.uk or visit www.amandaredmanfp.co.uk

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