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There is so much we all want to do in life, now and in retirement, that it can be a scary prospect to know how much money we will need in order to do it.

Life doesn’t simply go to plan and even if you were fortunate enough that it did, that wouldn’t take into account economic and social factors. We think it is always better to have a plan, rather than to be absent of a plan, so it is wise to start thinking about everything you would like to do in the future and how much it may cost.

Your financial decisions may not be motivated by personal goals, but the goals of others. You may want to help your children or grandchildren get on to the property ladder or help to fund their education. Whatever your goals are, you should think about how much it would cost and what you need to do to make it happen. This can then inform any investment strategy if you are not quite there on your goals being fully financed yet.

When you are thinking about money for the future, you also need to take into account inflation. Inflation is one of the most important factors in economics. It’s the rate of increase in prices for goods and services. (BBC, 2014). For example, although you may have recently earned a pay rise, if inflation has risen by the same amount, or even more, you’re actually no better off in real terms. When you are planning your financial future, it’s another factor you would be smart to take into account.

At Ethos we understand there may be problems to planning and understanding financial matters all on your own. We use a strategy called ‘Cash Flow Modelling’ to give us the ability to glimpse into your financial future. It gives us the information to allow us to take better courses of action and to make more informed decisions.

Cash Flow Modelling allows us to run through a variety of ‘what if’ scenarios, to calculate areas of need and to help us to complete your overall financial jigsaw.

If you would like to discuss Cash Flow Modelling, or any aspect of personal financial advice, please get in touch with us on 01302 244 977.

Publish date: 15th August 2018

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