Savings & Investments
We all know we should be saving more but sometimes it’s difficult to make sense of all the jargon involved and so we do nothing. How should we decide:
- Which provider to choose?
- What type of savings account?
- How much we need to save?
- What to do with the money left to us in a will?
- If we need to supplement our income in retirement?
- How we can help our children through higher education, or with the deposit for a house?
Tricky questions indeed – so why not come to us for a helping hand? As Independent Financial Advisers we will undertake a thorough review of your circumstances, draw up a financial plan and help you prioritise your needs. Everyone should have an emergency fund of at least three months outgoings to tide them over difficult periods. This can most sensibly be held in an instant access Cash ISA (Individual Savings Account), a type of deposit account, where the current annual contribution limit is £5,340 and could potentially rise each year in line with inflation and the interest is paid tax-free. After that, how and when you save is down to your personal circumstances, your stage in life and your all-important “attitude to risk”.
Risk vs Reward
Most of us know that you don’t get anything for nothing and if it sounds too good to be true, it probably is. At Horbury Financial Services Limited we’ll ask you questions to determine your attitude to risk and then recommend areas of savings and investments to suit your needs and objectives, including any ethical considerations. These can range from simple deposit accounts including fixed term deposits, unit trusts and OEICS (Open Ended Investment Companies), which are both a type of pooled investment run by professional investment managers, and investment bonds both on and off-shore. Within these vehicles we can help you select funds which complement your risk profile. We will also take into account your tax position, your income requirements and your investment time horizon.