SWT Wealth Management
Advertising feature: With the cost-of-living crisis being on everyone’s mind, its more important than ever that we talk about money and any financial worries and concerns.
Money is an emotive subject and one many people feel very difficult to talk or open up about.
Not talking about money can not only be damaging for yourself but also for those around you. Depending on whether you have a joint account with your partner and have both your names on household bills, then your money mistakes could affect their credit rating and financial future, and vice versa.
It’s important to know where you stand if you want to protect your finances – during a relationship and when coming out of one. Not talking about money with other family members can also cause issues. If you have elderly family members and you haven’t talked about their financial future and an urgent issue crops up – you might not know how they would like you to deal with the situation.
Most people don’t like talking about money, some even see it as rude when the subject comes up. I have heard many different reasons why people don’t want to talk about money and are happy to bury their heads in the sand when there are money problems or when they are not sorting and planning their finances for their future selves.
‘I will do it at some point’ and ‘life is for living and I will sort it soon’ are some of the excuses I hear from those who haven’t got around to sorting out their retirement planning and savings. The sooner you start your retirement planning the sooner retirement will be. The later you leave it, the longer you will have to work or the more you will have to fund towards your retirement savings to build up a big enough fund.
“I know I should talk about my finances, but I don’t know who to talk to’ Reaching out is the hard bit. Once you have sat down with someone and gone through your options and had someone look at things from a different viewpoint and with the knowledge to help, things will then get a lot easier from then on. Sometimes figuring things out and getting them in perspective can be much easier if you’ve got a little help. It can be from an expert or the people closest to you.
We all have different goals and aspirations in life. These could be travelling, buying a house, starting a family, helping children with university costs, retiring long before state retirement age or simply being more financially secure.
Understanding your current finances and how you would like them to look in the future can help put you in the best position to help achieve these goals.
Talking about money helps your mental health and gives you a sense of control when things sometimes feel like they are spiralling or mounting up.
As a financial planner my role is to help you understand your finances and what is important to you, not only now but also in the future. I help you make informed decisions about your money and help get you closer to financial freedom, a point where money no longer becomes an emotive subject but one where you feel you are in control.
SWT Wealth Management is an Appointed Representative of and represents only St. James’s Place Wealth Management plc (which is authorised and regulated by the Financial Conduct Authority) for the purpose of advising solely on the Group’s wealth management products and services, more details of which are set out on the Group’s website www.sjp.co.uk/products. The ‘St. James’s Place Partnership’ and the titles ‘Partner’ and ‘Partner Practice’ are marketing terms used to describe St. James’s Place representatives.
To find out ways we can help visit: www.swtwealth.co.uk or contact us on 029 2252 0168 or 07946183512
SJP Approved 24/11/2022