I've gotten into a habit of logging into BBC world news whilst I have my lunch. Its the only chance I get to see whats happening in the world other than the radio during my commute to work.
I came across this article in the business section http://news.bbc.co.uk/1/hi/business/10537363.stm
It got me thinking about how we all hope everything will magically fall into place for us as our lives progress or how we procrastinate to address our important issues or responsibilities.
Take 10 minutes this weekend with a blank sheet of paper and imagine some scenarios. How will the following affect your own planning let alone your financial planning:
You are ill and unable to work? - How will your planning change?
Your partner is ill and unable to work - How will your planning change?
Your child is ill and needs more attention - How will your planning change?
By preplanning we can make our disaster recovery strategy more robust rather than first addressing your changes when something happens. Maybe this means that you need to buy adequate protection, maybe it just means re-organising your assets or confirming your planning strategy with friends or family who would be happen to support you financially long-term. Whatever it is, ensure you've given your planning sufficient attention.
One last thought for the weekend. If you're not planning to rely on the income produced from work to last the rest of your lives, what are you on target to get? Whether it’s coming from savings, pensions, buy to let, sale of business or assets, how much will you need?
If you've not realistically planned it - Could you live decently on £14,400 a year?
Could you live decently on £14,400 a year?
A Financial Health Check.
Last week I was invited to deliver a training presentation to the membership of JCI Glasgow, a worldwide self-development organisation. After discussion with their Chairman, it was decided that a self-diagnosed ‘Financial Health-check’ would be of greatest value to the membership.
When I sat down to prepare the content and format for the training session I thought about how most us just allow life to sweep us along and only react to life’s events as and when they happen. We spend our early careers trying to build our businesses and or climb the corporate ladder to establish our careers and often take our eye of the ball in terms of looking at the bigger picture.
Zone Financial Blog
Through our blog section, we aim to keep our website users updated with the latest news from the financial world and from within Zone Financial. We aim to provide news updates, advice, links to helpful documents and more. So if you want to learn more about making the most out of your money, bookmark this page and check back regularly.
Why not subscribe to the Zone Financial latest news RSS feed to be kept updated with all of our blog posts click here Zone RSS