As the summer moves into Autumn our gear shifts a little and we start planning for the next few months ahead. Whether it’s going back to childcare, school or college and all the expense that goes with it, or looking at finances for future plans like a wedding, holiday, house or financial security!
It’s a really good time of year to take stock and do a review of your finances and financial goals. There are some good savings products on the market right now that offer short or longer term options.
What is Savings Plan?
We understand that what you do today, creates what is possible tomorrow. That’s where a sensible savings plan comes in, it can help you achieve your important financial goals such as paying college fees, buying your first home, helping your children get on the property ladder, or just having the security of a rainy-day fund.
Savings Plan is an investment product that gives you a straightforward way to save every month via direct debit to help you achieve your long-term financial goals.
What are my financial goals
Are they short, medium or long term. For example to buy a car, a home or investing for the future.
Should I save of invest
For short term goals savings are where most people start, putting any spare cash to one side to build up a short-term safety fund in case of emergency. This money is often held in deposit accounts in banks.
For medium/ long term goals a monthly savings plan or lump sum investment plan may give your money the growth potential it needs to help meet your goals.
What’s my attitude to risk
All investments come with a level of risk. The value of your investments can fall as well as rise.
This is why it is imperative to get financial advice and complete a Risk Assessment questionnaire to determine your risk profile before investing.
To review where you are at now and advise on what will work best for you and your future financial goals please call us or email us to arrange a meeting with one of the Hegarty team. 01 497 2544
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Hegarty Financial Management 40 years caring for our clients financial wellbeing