As the saying goes “Fail to Plan, plan to Fail”. This is a very true saying in all aspects of our lives but none more so than in our financial planning lives across all areas of financial planning.
We all need a plan. Without a plan we can not actually strive for a good outcome. In terms of financial planning, without a plan we could easily fail to protect our family, our business and our income. We could fail to accumulate funds for education purposes and there would simply be no retirement nest egg.

So what do we need to think of?


Life Cover:
No one likes to think of what would happen if they are not around to provide for their loved ones. But by planning, at least you have peace of mind in ensuring they are financially protected after your death.

A personal life cover plan coupled with mortgage protection will at least offer basic financial protection for one’s family.

This is forward thinking and easily effected with your financial broker.

Similarly life cover is essential for business protection purposes if you have a business. If for example, a business is jointly owned by two directors, it is essential to make provision for both families should they need to purchase the other director ‘s share of the business, in the event of the death of a co-director.

Without your income none of the regular bills could be paid. By planning ahead and protecting against the unexpected, you are safeguarding yourself and your family against the financial insecurity being unable to work could bring.

An Income Protection plan can provide up to75% of your salary (less social welfare entitlement) after a deferred period of 13/26/52 weeks.

A good financial broker can explain this invaluable plan to you.

We all need to save. It is essential to have at the very least a ‘rainy day’ fund. However by planning ahead, even putting a small amount aside on a regular basis, can make a hugh difference.  For instance education saving is a must. However many leave it far too late and saving for education purposes can become far more stressful when the timeframe is shorter.

By putting a small amount aside from the early days of childhood, the fund can accumulate over time insofar as you are contributing to such a fund over a longer time frame and the fund is allowed time to grow and avail of the peaks of the investment market throughout that time.

We all certainly need to accumulate a pension fund. The statistics are not good in terms of how many of us start our pensions at a young age in order to enable us to have a relatively good percentage of our salary at our retirement.
Again, by planning and starting to set aside even a small amount at least gives us the optimum chance of saving well for our retirement.


So where do you start?

By making a plan! A plan can be very simple – wanting to protect your family, educate your family and/or accumulating a pension are all valid plan’s.

A good financial broker will assist you in building on the framework of this plan.

Clear financial planning is difficult but by setting out your plan and working with your broker in establishing how you are going to achieve your objectives and revisiting your plan targets regularly you can achieve your end goal/(s).
A clearly defined financial plan, can not only ensure your financial objectives are met but it can bring great peace of mind.


If you require any assistance with your plan, contact us at 053 9233640.