Independent Financial Life Planners Bishop's Stortford: It is often said that “failing to plan is planning to fail”

Wednesday, 25 September 2013

It is often said that “failing to plan is planning to fail”

As experienced Independent Financial Advisors as Enable of Bishop’s Stortford we know that that putting off pension saving for even a few years can make a massive difference to quality of life later on. Human nature is such that we tend to prioritise the here and now over the uncertainty of the years ahead and it is understandable that when people are busy building careers, buying houses, bringing up families and setting up businesses that is their focus.

But as IFA’s we know that at some point we have to check whether we are on course to meet our retirement aspirations. Britons are generally not good at planning for old age. In a paper on equity release earlier this year, The Smith Institute cited research showing that only 40 per cent of those aged 30 to 60 had a financial plan for retirement. That is why back in April The Smith Institute was calling on the Government to provide a “financial MOT” when people reach 50 to ensure they are prepared for retirement.

The Smith Institute suggested the Government offer financial advice for low-income workers approaching retirement, who it argues, will not be used to paying for financial advice.

Co-author of the paper Paul Hackett said: “Future generations of low income retired homeowners will increasingly struggle to meet the costs of repairs and adaptations for healthcare needs. “To avoid unnecessary hardship, homeowners must plan ahead, including better utilisation of their housing wealth.”

Issued by: Enable Independent Financial Life Planners
25c North Street, Bishops Stortford, Herts CM23 2LD
Telephone: 01279 755950 - Fax: 01279 657339
Enable Independent Financial Life Planners is a trading style of Enable Independent Limited is authorised and regulated by the Financial Conduct Authority.
It is important always to seek independent financial advice before making any decision regarding your finances. If you would like any assistance, please contact us.
NOTHING CONTAINED IN THE ARTICLES SHOULD BE CONSIDERED AS GIVING INDIVIDUAL FINANCIAL ADVICE.

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IFA Bishop's Stortford

At Enable Independent we know that our clients trust us and rely on our advice to help them to plan a better, more secure financial future. This is a responsibility that we take very seriously especially because we know that many clients have chosen us on the recommendation of friends and family. Each one of our advisers has deep expertise in their area of specialist knowledge and, as a team, we hold some of the highest qualifications available in the financial advice industry.

Our job satisfaction comes from using our skills to find workable, affordable and flexible solutions to meet our clients needs. Whether we are planning for known future funding requirements such as house purchase, school fees or income in retirement - or for the unforeseen such as job loss, long-term illness or early death, our independence from any product provider enables us to view the marketplace impartially. Our training permits us to look beyond a product's marketing hype and select on the basis of its fitness for purpose.