News
A QUESTION OF FINANCE
By John Campbell, DSC Chartered Accountants & Business Advisers
4 Princes Square, Harrogate, HG1 1LX
How to Prosper after the Lost Decade
Many hard working people who have tried to put aside savings for the future have lost faith in pensions and investments. The value of UK equities has fallen over the last ten years – it’s been a lost decade. We might as well have put the money under our mattress, safe from the banking crisis!
To make matters worse, property values have slumped, and taxes will have to go up sharply to pay for the country’s massive public debt. Some of us expect to have to work for a decade longer than we had hoped before retirement. We feel we’ve been robbed of our dreams for the future.
So where do we go from here? One of the most important things we can do is to plan properly for the new financial world we now find ourselves in. Burying our heads in the sand, like the proverbial ostrich, will not help. Besides, there are plenty of opportunities available to help you prosper in the wake of the events of the last few years - provided you know where to look for them.
A good starting point will be to get your affairs in apple-pie order by arranging for a comprehensive analysis of your financial future under various different assumptions and scenarios. This might include:
- advice on the taxation features of the different types of investment you may be considering
- an assessment of how much income your investments will generate for you during retirement
- a summary of your inheritance tax position
- an assessment of your spouse’s / partner’s financial position so that you can consider your finances jointly or individually
- a comprehensive report on your retirement income and expenditure to help you assess when you can afford to retire
To find out more, please telephone John Campbell, Senior Partner, DSC on Tel: 01423 560547, email: j.campbell@dscca.com or visit our website on www.dscca.com
