Things that could go sour if your Financial Management is poor

“It is useless to give him financial advice. He pays no heed to it. Guess he has to learn it the hard way!”- This is how your father sounds, every time he sees you flaunt a new smart phone, invest in funky branded jeans or buy yourself a new super bike. It is true in most of the current youngster’s case. The generation of today believes in living in the present. They are smart, talented; start earning at a very early stage and make a name for them in whatever they do, but do not invest for future. For them money has become a commodity to enjoy life to the fullest. They are hardly disturbed about their old age, their future or even their future family’s future. But things that sound rosy don’t remain rosy forever. Money, if not well planned might soon leave your hands without a trace. Here are few unhappy events that could arise of poor financial management:

Loss of reputation

One might lose out all the repute if they turn into a pauper by not saving money at the right time. Not only will theirs, but their entire family reputation be held at stake.

Stress

Money might not be a stress buster, but with no money in your hand you are surely in for big stress. Be it paying the EMI, school fees, bills etc. money has manifested its greatness everywhere and hence with no money you get stressed out.

Lost trust

Be it friends or shop owners, no one will encourage loans where you promise to repay after a few days. If you do not pay back on time, they might lose the trust on you forever.

Also you might not be able to give your family what you promised erstwhile in terms of monitory support. The mistakes could take such an ugly turn that the family which once was opulent, would have come to a non-redeemable situation in front of your eyes. Hence proper financial planning and investment from young age is must for you to lead a respectable life in the society. Getting help from a professional financial advisor is the most profitable idea as they will help you to get a plan according to your present income and your future requirement. There are various reputed financial advisors in UK you can get in touch with them and find the best suitable option for you. 

Three Intelligent Minds Who can Guide you on your Pension Planning

It is your retirement today and you shall be called an ‘ex’ in the same office where you had served for forty golden years. There could be a felicitation party or a farewell speech- you are in for a surprise. Your colleagues who were your pseudo family could even cry as you part with good byes. These are emotional dependencies which you can handle quite well, but what about the financial responsibility that you are to be rewarded today? Have you planned your pension investment with your retirement benefit? Your boss has decided to give you one single fat cheque today as a mark of appreciation of your dedicated service. So are you ready with your finance planning? If not, here are three people within your reach who can give you some solid pension advice which will help you to grow your money:

Resourceful Friend

A friend in need is friend indeed. Ask your best friend how he planned his pension funds. He might give you the best advice you need in the most sensible manner which you shall pay heed to. But he may not be able to analyse the risk factor and hence a professional financial advisor is strongly recommended.

The family

Your better half or your immediate family is the next person who could be your best financial advisor. They know better what is in store for you commitment wise or health wise and hence can plan your funds in the best possible way. They are not the financial adviser but they understand your life style and can recommend a plan that will match your requirement after retirement.   

Credible Banker

A banker knows to grow money well. He is the ideal person to discuss your investment for pension. He will also have a sound knowledge about the different schemes and funds that are available which could suit your lifestyle. Before they zero in some particular plan he will take various factors under consideration and also consider the possible risk factors. 

As the clock strikes twelve in the midnight, you start reminiscing the good old days at work. You also decide whom to meet and discuss your investment in detail for a secured and happy living. Among the three options the best person who can ensure a profitable pension plan for you is a banker. As he understand the present market and can calculate the approx inflation rate you will face after your retirement.