New year, new you with these 2020 financial planning tips

It is unfortunate that the phrase “New Year, new you” has become something of a cliché. The backlash inevitably begins just a few weeks into the New Year, as resolutions fall by the wayside. However, getting your finances in order can become the lifestyle change you stick to this year, with Acumen’s 2020 financial planning tips.

Did you start the New Year with renewed verve and vigour? If you began 2020 with the best of intentions to stick to your New Year’s resolutions but have faltered already, you are not alone. In fact, research by Strava found that most people’s resolve will falter as early as 12 January. A day they have unsympathetically dubbed “Quitter’s Day”.

We recommend bypassing all self-recrimination and adopting a different approach altogether. Why not consider reframing the concept of “resolutions” and instead follow Melinda Gate’s example by choosing a single word to define your 2020 aspirations? From a financial perspective, this could be stable, growth, organised or strategic.

However, we believe the only word you need for 2020 financial planning success is: Acumen.

2020 financial planning

There are numerous ways Acumen can help you to achieve your financial goals. Here are our top tips for succeeding with your financial planning in 2020 and beyond.

1. Seek financial planning advice

Your 2020 financial planning needn’t be a solo pursuit. In fact, we believe that having the support of professional financial planners can actually be hugely beneficial to your financial outlook.

Not only can Acumen’s expert financial planners take away the burden of navigating your finances alone, but we have our fingers on the pulse of all the latest products and trends to advise you accordingly.

Our unbiased advice isn’t a one-size-fits-all approach either. Rather, we take the time to understand your financial situation to offer a tailor-made financial plan that will best help you to achieve your own unique financial goals.

2. Invest in your investments

Any investment comes with an inherent amount of risk, which can be off-putting in an emotional sense. However, investments are a long game and, with the right amount of professional support, it is possible to ride the waves of stock market volatility.

Acumen offers comprehensive investment advice and planning, covering everything from asset allocation to investment selection and inheritance tax mitigation.

Our highly experienced investment managers work closely with you to help you understand the potential risks associated with any investments. Their expert advice will enable you to make the right choices according to your own financial goals and circumstances.

3. Start your retirement planning now

The Chinese have an old proverb – “The best day to plant a tree was 20 years ago. The second best day is today.” This isn’t just the case with planting trees, it is also true of retirement planning. Of course, the sooner you start, the more options you will have. Therefore, whatever stage of career you are embarking on in 2020, taking conscious steps towards creating your ideal retirement could be life-changing.

Where do you start? That is an excellent question and one that perhaps has previously led you to put off thinking about the formal practicalities of securing the right type of pension scheme for you and to start saving in earnest.

Thankfully, you don’t have to go it alone. Acumen’s pension advisers are here to help. With more than 120 years of collective retirement planning experience within our multi-disciplinary team, we can help formulate a retirement plan that enables you to reap the rewards of your working life.

4. Take professional pension advice

The pension freedoms that were instigated by the government in 2015 changed the pensions landscape radically. Never before have UK pensioners enjoyed greater flexibility in terms of how to access their pension pots. With a huge number of pension schemes also available, pension savers are spoilt for choice.

Of course, more options can sometimes lead to more confusion. Acumen’s experienced pension advisers are here to cut through the dizzying array of permutations and offer unbiased pension advice that is tailored to your particular financial situation, to make sure you maximise your opportunities and minimise the tax you pay. While “off the shelf” solutions have their place, they might not be the best fit for you.

Our team of pension planners will support you with a 360 degree analysis of your financial situation. Having gained a better understanding of your circumstances and aspirations, they will then provide lifestyled pension advice that is designed to help you achieve a long and comfortable retirement.

Make Acumen your first word for financial planning in 2020. For more information about any of our products or services, please contact Acumen today on 0151 520 4353 or email info@acumenfinancial.co.uk.