Best Financial Advisors in Ellesmere Port

How to use the three pot rule to reach your goals - As Independent Financial Advisers, it’s our job to make you feel comfortable when sharing your unique hopes and dreams for the future. Clients often tell us they want to save for a comfortable retirement, but they also want to travel now or upgrade their home. While some people may have clear and obvious goals, for others they can find prioritising their goals and saving strategically can be tricky. When it comes to financial planning, it's important to have a clear idea of your goals, both short-term, medium-term and long-term. Maybe you want to go on a big holiday next year? But you also want to purchase a home in 5 years and live comfortably in retirement. This means you’ve got short, medium and long-term goals. Once you know what these goals are, you can use the three pots to make a plan. Pot 1: short-term goals – less than 5 years Short-term financial goals are those that you want to achieve in the near future, typically within the next 0-5 years. Here are some tips for setting and achieving short-term financial goals. For any short-term goals such as holidays, home improvements or a new car like these (less than five years), it’s normally a good idea to stick to cash products – these tend to be lower risk. This also means your short-term plans shouldn’t be impacted by any stock market ups and downs. It’s also a good idea to have an emergency fund. An emergency fund will cover unexpect...