Why is Money Important? [Video]

You’ve probably noticed lots of E-mails, and articles, and ads recently encouraging you to ‘start early’ and make sure that you pay your ISA contributions and/or pension contributions.

Pensions and ISAs are great products and very tax efficient, but in my experience people really don’t like having plans and products pushed at them. So much so that it can sometimes put them off getting help with some proper financial planning. That’s not good.

The thing is, traditionally financial advisors start by focusing on your facts and figures – your plans and assets and liabilities and income and expenditure. It’s all about the numbers.

Our philosophy is life planning before financial planning.

What do I mean by this? Well, on paper your assets might look the same as many other people.

But what makes us different is how we answer this question:

Ask yourself: Why is money important to me?

Your answer to that question will start to form the basis of your financial plan.

An common initial response will be “Security.” But that’s too easy, try to go a bit deeper. Why is security important to you? Nope, that’s too easy. What exactly does it mean?

For example, it might mean knowing that you can stop working if you want to. It might mean helping your kids to buy their first home. It might mean travelling around South America or the world.

That’s where proper financial planning starts.

So start with why money is important to you, and what you want to spend it on, that’s the fun part after all!

Interested?

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

More Reading:

Dividends and Pensions

What is Carry Forward?

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.

    Join her online: