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A guide for planning the ultimate “vacation”

 OK but I’m not sure how to invest my money

The reality is this. Professional money managers are unable to consistently outperform the market. And that is absolutely not a criticism of their ability. What’s more, you can’t either and that’s not a problem. Because you don’t need to. What is needed is a set of DO’s and DON’TS to be successful.

So, firstly, let’s look at what you shouldn’t be doing.

DON’T: Buy the fund the best fund from last year.

Past performance is not an indication of future returns. The fact that a fund did well last year, the last five years, or the last 10 years is not really a clear indication of how it will perform in the future.

DON’T: Buy when the market is racing up and don’t just because it has had a fall.

Sadly, this is what most people do, BUT it is the opposite of what you should be doing!

DON’T: Invest in a low or zero risk investments.

Low-risk may be playing it safe, but the returns will be very low — the returns are never likely to get you to where you want to be.

At the end of the day. nobody can predict the markets, so why even try?

So, what should you do? What are the rules that will help you get to your end goal?

DO: Remain focussed on your long-term goal and ignore the short term

DO: Spread your risk and diversify your portfolio

DO: Save and invest continuosly to take advantage of pound-cost averaging and compound growth.

DO: Rebalance your portfolio periodically to control investment risk.

If this is going to be the vacation of your life that you really deserve, avoiding mistakes and following the rules will be essential. Be honest with yourself about where you are now, where you want to get to and what you plan to do to get there. That is what we at Midlands Investment Agency are here to help you do.

Is it easy? Probably not, BUT…

Planning the holiday of your lifetime is one thing, but proper retirement planning involves a great deal of preparation and expertise. Although some people may feel comfortable with DIY financial planning, many people are not and need help.

For those that need help, it is important to work with an expert financial planner who can help you build the right strategy to get you to your end goal. That is where we come in.

At Midlands Investment Agency, we work with you to create a financial plan to meet your goals and objectives. To help you achieve your version of financial freedom and the secure retirement you deserve.

How do we do this?

We take an overall view of your financial situation now

Help you understand what risks you are taking now and how much risk you should take in the future

Help you create a plan on how to meet your goals

Keep your plan under continuous review

Advise you on any changes that need to be made to your plan

Whether you choose to work with us or with another advice firm, we want to wish you the best in your plans form that vacation of a lifetime.

Action Call

Are you planning for a fantastic retirement? Not sure if you are on track?

Contact us to today. We can review your current situation and let you know what options are available to you.

If you would like to talk to about financial planning, please get in touch for a no-obligation meeting. Go to our website www.miadvice.co.uk and contact us via our “Get in touch” form on our home page or Contact Martin Dodd on 01902 742221.

Email us at financialplanning@miadvice.co.uk

It is advisable to take advice from a professional financial adviser when making major financial planning decisions.

Check out our other recent articles here

This article has been prepared in good faith and based on Midlands Investment Agency’s understanding of the law and interpretation thereof at the time of creation. The contents should not be regarded as specific advice and we always recommend that specific advice is sort from a qualified professional. No responsibility can be accepted by Martin Dodd or Midlands Investment Agency Ltd., for any loss that may occur by a person acting or refraining from acting on the basis of this article.