When Will You Review Your Finances?

January 12, 2011

Our Financial Advisers in Newcastle say regular reviews of your financial plan are important to optimising your financial security.

Dealing with changes

The financial world is always changing. Political, economic, legislative and social factors will continue to change long into the future. Ongoing reviews with a professional financial planner who understands and
monitors these changes will assist in supervising and tailoring your financial schedule.
 
Case study
Charlotte and Craig were married for two years before they consulted a professional financial planner.  With a baby on the way, the couple needed advice on budgeting and Craig’s investments. Although it was suggested they be involved in an ongoing review service, Charlotte and Craig declined. They believed the advice offered would set them up for life.
 
Five years later their family had grown and Charlotte had permanently left the workforce. They also inherited money and gained equity in their home. In short, their circumstances had changed drastically and their plan no longer reflected this.
 
Had Charlotte and Craig been involved in the review process, their financial planner would have been able to offer them a report on Craig’s investments, a tracking of his portfolio as well as any further advice they had needed.
 
‘Nobody plans to fail but many fail to plan’. An ongoing review service would likely include annual meetings to review your long term financial position. A financial adviser should listen to your needs and goals and tailor their service to help meet them. You can enjoy life today, knowing that your future is in expert hands.
 
Source: Lonsdale Financial Group – Financially Speaking Edition 28. 2010
 

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