You already have a plan, but is it fit for purpose now?
You may already have a financial plan for your investments and other aspects of your finances, but is it fit for purpose now? Is it suitable for today’s economic realities and can it adapt to secure your future?
Many things have changed in recent years which could affect your retirement outcome. The pandemic and war in Ukraine have been major catalysts for higher inflation and subsequent higher interest rates – both of which may have sizable consequences for the value of your investments.
Similarly, the rudiments of an intelligent investment approach have evolved. For example, 20 years ago many investors may not have been aware of the low-cost benefits of index funds and passive investing (explained here) – now even Warren Buffett, one of the world’s most notable active investors advises, “Both large and small investors should stick with low-cost index funds.”¹
But it's never too late to restructure how you invest, or to change to a provider better suited to maximise your potential returns in the modern era.
Your own circumstances and understanding of your needs may have changed, too. You may have underestimated how long you could live, for instance – is your retirement pot resilient enough to pay for those extra years, and extra expenses?
So how can you find out if you are on track?
Introducing the retirement readiness scorecard
We have devised a retirement readiness scorecard to help you quickly get a clearer picture of your retirement potential.
It’s free and only takes a couple of minutes to complete.
Find out in 2 minutes how to improve
your retirement prospects
When you answer the questions you get an instant personalised report. This helps you understand your current arrangements and general readiness for retirement – and offers suggestions for steps you could take along the way.
You’ll be scored against these key areas:
- Your current pensions and investments – the assets that will support you during retirement and how well organised they are.
- Key areas to consider as you prepare for retirement – are you factoring in retirement expenses, inflation, tax wrappers and investment fees?
- Support from professional advisers – professional advice and financial planning can make a substantial difference to your retirement prospects.
Why not see if you can improve your retirement prospects and be better prepared for the challenges ahead?
There could be a substantial cost to doing nothing, but if you have two minutes to spare it could make a big difference in protecting your future.
Please note, the value of your investments can go down as well as up.
Netwealth offers advice restricted to our services and does not provide independent advice across the market. We do not offer advice in relation to tax compliance, personal recommendations with regards to insurance and protection, or advise upon the transfer of defined benefit pensions. When investing, your capital is at risk.
