It’s 50 years since Sylvester Stallone’s Rocky first hit the big screen. The ups and downs of its boxer hero have thrilled generations of cinemagoers, but Rocky Balboa might never have gone the distance without the skills and guidance of his trainer, Mickey.
At Continuum, we may not be practitioners of the noble art of boxing, but we do understand the importance of having an expert in your corner when it comes to financial planning.
Your financial adviser can play a similar role in helping you prepare for what lies ahead, stay focused on your goals and keep your financial plans in good shape.
Why financial fitness matters
When you’re financially fit, money can become less of a source of stress and more of a tool to help you achieve the things that matter to you.
It means feeling confident about your finances, being prepared for unexpected expenses and knowing you have a plan for the future.
But, just like physical fitness, financial fitness needs ongoing attention. Your circumstances change, your priorities evolve and events outside your control can affect even the best-laid plans.
That’s why regularly reviewing your position with your Continuum adviser can be so important.
Getting your finances in shape
Financial fitness is about building good habits, developing resilience and making considered decisions over the long term.
You may already have the fundamentals in place such as savings, investments, pensions and protection, but that doesn’t mean the job is finished.
A new job, approaching retirement, helping children or grandchildren, receiving an inheritance or simply changing what you want from the future can all provide a reason to revisit your plans.
Your Continuum adviser can help you look at the bigger picture while helping to make sure the different elements of your finances continue to work together.
Maintaining your stance and balance
A solid stance is everything in boxing. The same principle applies to your finances, strong foundations put you in a better position to deal with whatever comes next.
Part of that means keeping borrowing and everyday finances under control. Interest and repayments can reduce the amount available for saving, investing and enjoying life today.
It’s worth regularly considering how your short-term financial commitments fit alongside your longer-term plans.
Being able to take a financial blow
In the ring, you expect the occasional blow to land. In everyday life, financial setbacks can arrive when you least expect them.
An unexpected bill, change in employment or other unforeseen expenses can quickly put pressure on household finances.
Having an appropriate emergency fund can provide a valuable financial cushion, helping you deal with the unexpected without having to disrupt your longer-term plans.
Setting up your defence
Good defence isn’t simply about reacting to what happens. It’s about anticipating potential risks and putting appropriate protection in place.
Life insurance and other forms of protection can help provide financial security for you and your family if circumstances change unexpectedly.
But your needs can change too. Your mortgage may reduce, your income may increase or your family circumstances may evolve. Reviewing your protection can help ensure the cover you have continues to reflect your needs.
Playing the long game
Going the full 12 rounds in the ring is a test of endurance. Going the distance with your finances is also about thinking long term.
Your goals might include enjoying retirement, travelling more, helping children or grandchildren, passing wealth to the next generation or simply having greater freedom over how you spend your time.
Whatever matters most to you, financial planning is about understanding what you want your money to achieve and making considered decisions to help you get there.
Staying consistent with your financial planning
Markets move, tax rules change and life rarely follows a perfectly straight path. That’s why financial planning isn’t something you do once and forget about.
Your Continuum adviser is there to work alongside you over the years, helping you stay on track and adapting your plans as your circumstances, priorities and ambitions change.
After all, even the best performers benefit from having a trusted trainer in their corner. Call us at Continuum to meet your personal financial trainer.
This article is intended for general guidance only and is based on the opinion of Continuum it does not constitute financial advice. Individual circumstances vary, and you should consider seeking advice from a regulated financial adviser before making any decisions about your Mortgage, Savings, Investments, or retirement planning.
The Financial Conduct Authority does not regulate taxation and trust advice or will writing
A pension is a long-term investment; the fund value can go down as well as up and this can impact the level of pension benefits available. Pension Income could also be affected by interest rates at the time benefits are taken. Pension savings are at risk of being eroded by inflation
The value of an investment can go down as well as up. When investing Capital is at risk
Independent financial advice
No product targets, no hidden fees. Find out how Continuum provides impartial financial advice tailored to your goals, your timeline and your circumstances.
See how we can help
