‘I know it’s important, but where do I start?’


Getting financially well organised

Although wealth planning encompasses many things, it’s key to living a fulfilled and purposeful life.  Being financially well organised is certainly the objective of many, if not all clients of Wells Gibson as it:

  • saves time (which in itself is a valuable commodity);
  • saves money, by reducing tax as well as investment costs and risks;
  • facilitates good mental health from reduced anxiety about your financial future.

But here’s where wealth planning really pays off – it brings clarity and certainty to your financial life – clarity to visualise what your financial future could look like and certainty to know you can secure all that you value.

How can you make smart financial choices if you don’t have a good understanding of where you are in the first place?  When looking at your lifetime wealth plan, beyond today’s income & expenditure, it’s useful to consider these 7 categories:

  • Investing
  • Lifetime cash flow
  • Risk
  • Debt
  • Tax
  • Legacy
  • Giving

Although the above categories can seem somewhat daunting, a systematic approach will help you define what action is needed in your financial life.

Earlier I talked about how financial organisation provides clarity, which in turn informs decision making.  This becomes particularly important when considering your pensions and investments, as your wealth plan will reveal how much investment risk you are able and need to take to achieve and maintain the life that’s important to you.

Being financially well organised also means asking Wells Gibson to answer your big or expensive questions – questions like:

  • Can I afford to retire 5 years early?
  • How much do we need to invest in pensions to retire comfortably?
  • How much do I need to sell my business for?
  • Can we afford to give our adult children a lump sum to help them onto the property ladder?
  • How much is enough?
  • Could we retire early if we were willing to take more investment risk?

When designing, building, and evaluating your own wealth plan, you will be wise to find a trusted wealth partner as it’s very likely you won’t have the time, desire or expertise to do this – in 2020, Which online (2020) stated, ‘for complex areas, specialist financial advice can easily pay for itself.  A good financial adviser can help you to look at the big picture and make the right plan for your circumstances.’

The question is, do you feel financially well organised?  Could you benefit from specialist wealth planning and advice?

Contact Wells Gibson