Are You invested in the right funds?
If you have an existing pension plan are you one of the many that has just been invested into the default funds, when the scheme was set up?
How much involvement did you have in the investment decisions that were made with your money.
There are a multitude of reasons why you should have more control over how your money is invested, to ensure you are invested in funds that are suitable for your circumstances.
- The difference in your fund in retirement could be 10’s of £1000’s if you do not get this right.
The first BIG question you should consider is are you saving or are you investing?
The popular perception is that saving money is the ‘safe’ option and investing is the risky one.
That is true to an extent.
But when you factor in inflation, you realise that a lot of savings lose value or stay static over time, because they just cannot keep up with rising prices.
If you would like to achieve capital growth and have a go at beating inflation, then investing generally gives you the best chance overall.
If you have a long period of time until you reach your retirement age, you should be leaning towards a more investment led approach.
As you get closer to your retirement age you can then consider reducing your investment risk.
SOCIALLY RESPONSIBLE INVESTING
You may also be one of the growing generation of investors who want to use their pension fund not just to grow, but to be used to do to some good.
The rise of ethical or socially responsible funds has grown massively over the last few years.
Socially responsible investing is the practice of investing money in companies and funds that have positive social & environmental impacts.
If you haven’t reviewed your pension funds for a while now might be the ideal time to address this.
You can contact the office on 01564 732770 or use the links below to get in touch.