future planning

Money Trouble and Future Independence



Posted on: 9th May 2023

Money dictates everything. It always has and always will and will play the biggest role in your later life. We understand how reading the markets and hearing the daily news about money needed for retirement can be depressing and makes you want to save it until the outlook is better. However, switching off regarding your future planning does not mean things will get easier.

It may very well get even worse if you don’t start getting the right advice. We don’t mean those financial experts you see on TV, either. We mean tailored financial advice around your circumstances – not a generic stance of a select few.

Starting Out

Okay, so you have decided to seek advice from independent financial advisers Manchester regarding your retirement planning Cheshire. That is a smart move because now you will talk about your individual goals and circumstances instead of a general solution to meet them.

Let’s focus on your retirement goals to begin with. How do you envision your daily life, who are you spending it with, and what activities or hobbies will you likely want to pursue? Maybe you want to dedicate your later years to travel or invest in certain arenas. Even though this is a long time away in many cases, establishing how you want that retirement to play out is the first step towards structuring your route with a financial adviser.

The Cost Toward the Goal

Now that the goal exists, the reality must be addressed; money! That source of all decision-making can deter you away from your plan. However, this is where independent financial advisers Cheshire comes into effect to help structure the path.

It can start by looking into what you are currently spending now. Make no mistake, it can be frightful to be confronted by your typical spending habits now and justify them against what you will be paying in the future when retirement comes along. Working with your adviser, you can work on adding the numbers to how much you will need realistically. As an example, some of the things you are paying out for today, you may get too old to do in later years, so you can expect some aspects to drop off the expenditure as the late years come calling.

Would you still be paying for your expensive gym membership when you are in your 60s? Maybe you want to downgrade your home once the kids have moved out. All current costs will not follow you into retirement, and your adviser knows how to make you realise that – as well as the unforeseen that can come along that can dramatically reduce or increase your expenditure.

Let the team at Haven IFA provide tailored future planning and guidance that benefits your financial future. Contact us today for the financial advice that matters.