5 Steps to Start Financial Planning [Video]

In our last video Hilary talked about starting your financial planning by asking yourself the question, “Why is money important to me?”

If life planning comes before financial planning, it’s so much more fun to plan because you know what you want, rather than it being just a numbers game.

In this episode of Hilary talks about her five steps to start financial planning – helping to make your future years the best years yet.

Step 1 – When?

All planning needs a time frame to work within and towards.

It could be a future date that you’d like to stop working – or rather be able to stop working because there is a big difference.

For some people Hilary talks to, not working is a scary thought. But if you think in terms of starting with a three or four day weekend, well that could make all the difference. Everyone enjoys a long weekend.

Step 2 – Who?

Who are the most important people in your life? Spouse, partner, children, grandchildren, business partners, friends?

Consider the impact your decisions will have on them, both financially and emotionally.

If you’re one of the so called ‘sandwich generation’ caring for children and a parent, it can be difficult. If you have grown-up children talk to them. The same if your parents are still around.

Having a plan and discussing it with your important people is essential, because otherwise you might sacrifice your own best years and independence for the needs of others. They wouldn’t want that. You need to find balance.

Step 3 – Where?

Where do you see yourself living in the future?

Do you want to stay in your current home? Do you want to downsize or upsize? We have clients who like to spend winter months in the warm, sunny places like Spain and Florida. And then they come back and spend time with their friends and family in the summer months. It could be a perfect combination.

Steps 4 and 5 – What and How?

The next two steps, are the ‘number crunching’ part. Hilary will be covering those next time.


Call 0117 290 0370 if you’d like to find out more about how we work with business owners. Ask to book a free 20 minutes telephone consultation with Hilary Carden.

Alternatively drop us an email to:  enquiries@cardens.co.uk

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Why is Money Important

Dividends and Pensions

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Important Risk Warnings:

This article and the information on this website is not personal advice. It’s only intended to give you a brief summary or highlight a particular issue for you to investigate further. It is based on our current understanding of legislation and HMRC guidance which can change. Correct as at April 2019. If you’re in any doubt whether a particular course of action is suitable for your circumstances, you should seek professional advice. Tax rules can change and any benefits depend on individual circumstances. And, if you are unsure any reliefs are applicable to you, you should consult your accountant or HMRC.

The value of investments and any income from them can fall as well as rise, so you could get back less that you put in. Past performance is not a guide to the future. It cannot provide a guarantee of the future returns of a fund.

  • Hillary Carden

    Hilary is a force to be reckoned with in the pensions field. She founded Cardens in 1993 and Cardens Pension Trustees Ltd in 1995 and became one of the first women to become a Registered Life PlannerĀ® and with 30+ years experience of advising on and managing pension schemes, she really is an expert in retirement and financial planning.

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