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Understanding the facts and the fiction

There can be many myths about financial planning.

Don’t be put off by anything that you don’t know to be true. We can help you understand the facts from the fiction, so it doesn’t stop you doing what’s best for your future.

“Financial planning is just for the wealthy”

Fiction. Financial planning is not just for the wealthy. A few hundred pounds can be enough to get you started. It’s about achieving your goals by making the most of whatever you have.

“It’s best to start financial planning when you’re young”

Fact. When you’re young, you have more time for your financial plan to take shape. If you wait too long to get started, you could leave yourself fewer opportunities for your money to grow. But, it is never too late to get started.

“All you need is a good pension plan”

Fiction. While it’s true that a financial plan should take your retirement goals into account, there’s more to think about than just your pensions. Planning is about your short and medium term goals too.

“Financial planning is about more than investing”

Fact. Investments can form a part of your plan. But saving and supporting your lifestyle is just as important. The money people invest, is usually money that they can afford to set aside.

“Everyone’s financial plan is the same”

Fiction. There is a financial plan for everyone but not everyone’s financial plan is the same. Your goals are unique and your financial plan should be unique too. It’s about doing what’s right for you.

“Your financial plan never changes"

Fiction. As your life changes, so will your financial circumstances. It’s a good idea to revisit your financial plan regularly to make sure it’s still right for you. If it’s not, you can just update it.

Build your plan

If you’re making a financial plan for the first time, we can help you get to grips with some of the basics.

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