3 positive ways an expert planner can help you to increase your confidence in your financial future

In recent years, the UK has grappled with a string of economic events that have hit consumer confidence hard.

Events such as the Covid pandemic, the cost of living crisis, and the aftermath of Kwasi Kwarteng’s mini-Budget all had ramifications for the stock market and economy. If you’ve found yourself feeling nervous about how this might affect your own financial future, you’re not alone.

Research published by MoneyAge has found that this has been the case for almost half of UK adults. The survey found that 46% of UK adults are not confident about their financial future, up from 35% in 2021. People aged 65 to 74 were the worst affected group.

Fortunately, with some support, the knock to your confidence needn’t be permanent. Read on to discover how your financial planner could help you to recover your confidence and continue to work towards your long-term goals.

1. Your planner can help you to put news headlines into context

One of the most difficult things about economic and stock market uncertainty is the way it is reported in the media. Headlines that speculate about potential downturns can understandably cause you to panic about your investments and wonder if you need to sell your holdings.

This is one of the reasons having a financial planner to turn to can be so beneficial. With years of experience behind them and a continual eye on stock market movements, they can help to put these headlines into context.

Often, day-to-day news updates about the stock market are a lot less useful than they may seem.  Financial experts expect to see short-term fluctuations on the stock market. Such fluctuations are normal and shouldn’t necessarily cause concern.

So, if you’ve seen a worrying headline or news story, your financial planner may be able to shed some light on the subject and reassure you.

2. Regular financial planning meetings could help you focus on your goals

One of the reasons it can be helpful to tune out the noise of headlines is because they rarely, if ever, relate to your personal circumstances.

When it comes to creating an effective financial plan, the most important thing to focus on is the result you want to achieve. Whether that’s early retirement, buying your dream home, or leaving a legacy for loved ones after you’re gone, it’s these goals that will steer the way you spend, save, and invest.

Speaking with your financial planner on a regular basis can remind you of these goals, perhaps updating them if your thoughts and dreams change.

What’s more, your planner can demonstrate the progress you have already made towards your preferred lifestyle.

When you focus on the things that will bring you true contentment, it may be easier to let go of negativity and feel confident about your next steps.

3. Your planner can update your plan when necessary

Of course, there may be times when you need to rebalance your portfolio, or make some changes to your financial plan.

This might be because external factors have affected it, such as interest rates or stock market returns, or because your circumstances have changed, such as if you have received an inheritance or sold a property.

Your planner can help you to ensure that any changes you make are for the right reasons – that is, to support you in achieving your long-term goals – rather than out of fear or panic over short-term conditions.

Taking a strategic approach like this could help you to feel more confident in your financial security, both today and for the future.

Get in touch

If you’d like to learn more about how we can help to boost your confidence in your financial future, please get in touch. Our friendly team of financial planners is based in Towcester and will be delighted to help you.

Email theteam@fortitudefp.co.uk or call us on 01327 354321.

Please note

This article is for general information only and does not constitute advice. The information is aimed at retail clients only.

A pension is a long-term investment not normally accessible until 55 (57 from April 2028). The fund value may fluctuate and can go down, which would have an impact on the level of pension benefits available. Past performance is not a reliable indicator of future performance.

The tax implications of pension withdrawals will be based on your individual circumstances. Thresholds, percentage rates, and tax legislation may change in subsequent Finance Acts. 

The value of your investments (and any income from them) can go down as well as up and you may not get back the full amount you invested. Past performance is not a reliable indicator of future performance.

Investments should be considered over the longer term and should fit in with your overall attitude to risk and financial circumstances.

Your home may be repossessed if you do not keep up repayments on a mortgage or other loans secured on it.