There are many things we review once a year to ensure they're in good working order, our car with its annual service, and our health with a medical review. But if we gave our finances the same attention we would be able to take the actions necessary to improve the performance.
Here are some reasons it pays to have an annual financial review:
Check the performance of your savings and investments
If you don’t check how your savings and investments are performing how will you know if they are on target to achieve your goals? Regular financial reviews are a chance to determine if your current strategy is working or not. If not you can then look at alternative options.
A change in your circumstances
Starting a new job, getting married, buying a house, having kids or retiring, changes to your personal circumstances may change the goals you have and alter your risk outlook. Whatever the change, by reviewing your finances regularly you will be able to assess the ongoing suitability of your investment strategy.
Market performance fluctuations
Stock market movements can impact on how your investments perform. A financial review is an opportunity to check how they’ve been affected.
Protect your legacy
Over time, the value of your estate and inheritance tax rules can change. By having a financial review, you’ll be able to establish whether your estate is liable for inheritance tax. If you don’t make plans it could result in your loved ones paying up to 40% tax when you die.
If you would like to book a financial review call Aspire on 01928 735510, or send us an enquiry and we will call you back.