From the office at Philip J Milton, we wish you a happy new year. The last year has been a turbulent one, however our path is more set now with a clear governmental majority. While not a universally wanted outcome, it will release pent-up investment in the UK and should see a small boom in UK-centric investment.
We hope this following year will be one of prosperity. As is wont, many set their goals for the year ahead at this time. One thing often overlooked is financial goals. Usually new year resolutions are long-term views, a survey by Brewin Dolphin found financially; 31% plan day to day and just 18% in years or longer. Compared to other long-term resolutions, 40% want to eat better and 39% want to be fitter over a year! Despite finances being one of the most important aspects and benefiting from long term planning (compared to planning your eating habits for the next year!), it is underthought about.
An example could be you have £5,000 to buy a car but not this year. Most current accounts give no interest currently, however invest in a 95-day notice account and you could receive 1.80% equal to £90. Not an insignificant sum for a few hours work. This is just one strategy for your savings in the longer term. We would recommend that one of this year’s resolutions would be to have a look at your long term finances.
How may we help?
As Independent Financial Advisers, we are committed to help you achieve the best results in your individual situation and as many clients will attest, happy to go that bit further at no cost to answer any queries you may have. Contact us and we will be happy to organise a meeting free of charge to discuss your financial plans and then write to you with our initial views of what you can do and how we can assist you.
The value of stock market investments and any income from them may fall as well as rise and investors may not get back the amount originally invested. Yield figures may vary and are not guaranteed. It is advisable to hold these investments for a minimum of five to ten years; over which periods stock market returns have shown themselves to be historically superior and broadly predictable through both good and bad times. Past performance should not be seen as an indication of future performance.