Risk
With any financial plan there are two main areas of risk.
Investment Risk and understanding the relationship between risk and reward when developing an investment strategy, and life risks, understanding and protecting the financial implications of a long term illness or premature death is a fundamental safety net.
Here we want to prompt your thoughts in relationship to life risks.
- Are you aware of how long your employer will pay you if you are off work?
- Are you aware of how much the state will provide in the event of you being unable to work for a long period of time?
- What is the likelihood of this happening to me?
- How would my business run without me?
- How would my family cope if I had very little income?
- Do you really want to be a financial burden on your parents?
Clearly it remains your decision whether or not you live with a risk, cover part of it or all of it.
Our role within financial fitness is to help you quantify and qualify what these risks are and provide a generic strategy to cover your exposure in the most sensible way.
If you would like to discuss your concerns then please use the contact form here.
Financial Fitness introduces to St James's Place Wealth Management Plc which is authorised and regulated by the Financial Services Authority.
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