Tanner’s Tips – Financial Goals and Planning

This article was published on 9th January, 2019

Tanner’s Tips comprises of a father and daughter team, an unstoppable duo fighting apathy in the world of finance.

While we all go through life in a similar way, we often do things at different stages to other people, or perhaps have a different path we wish to take.   Some people may want children at a young age, some may want to go back to education at a later stage, while some may wish to marry and have children later in life.   These things may have implications on your retirement plans or other financial goals.   The earlier you plan for your goals the better.   For example, if you start a pension plan while you are young, you have more time to accumulate a large fund for your retirement needs, or the younger you are when you take out life insurance, the cheaper the premium.

We have previously touched on this subject, but do you know what your financial goals are?   If you don’t, take some time to think about them.   Firstly, assess your financial situation.   Create a budget and see where there is room to improve on your finances.   Next it is time to set your goals and write them down.   It is important, as previously mentioned, to be aware of your risk appetite.   Then you can work out and implement your plan, remember a goal without a plan is just a wish.   Finally, it is important to constantly monitor and review your plan, ensuring you are progressing in the right way.

If you really have no idea where to begin with these goals, or how to prioritise the more urgent needs, speak to a qualified financial adviser.   It is our job to know what to prioritise in a person’s life, what goals are more long term and what goals need to be attended to immediately.   Generally speaking, protection needs are more urgent, then comes savings and investment needs.   It is often not feasible for an individual to afford to satisfy all of their financial needs/goals at once.   This is why prioritising and making a plan is important.   Remember to be completely honest with your financial adviser  and give them any information they request.   This is in your best interest, they are not just being nosey!   If anything changes in your life that may affect your financial situation, it is important to re-visit your financial adviser so that alterations can be made to your plans where appropriate.

If you have any questions, or would like to discuss your financial goals with us, please do not hesitate to contact us.

We would love to get feedback on these posts, and if there is anything in particular you would like to hear about, please let us know.
Tanner's tips financial plan

Disclaimer: All information provided on this site is provided for information purposes only and does not constitute a legal contract between this site and any person or entity unless otherwise specified. Information on this site is subject to change without prior notice. Although every reasonable effort is made to present current and accurate information, we make no guarantees of any kind.

This webite may contain information that is created and maintained by a variety of sources both internal and external. In no event shall this site be responsible or liable, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any such content, goods, or services available on or through the site.

Any links to external websites should not be construed as an endorsement of the content or views of the linked materials.