For many of us it can be a battle to balance the books and pay the bills here and now, without having to worry about how we will cope financially in the future. The temptation is to put any planning to one side, and to promise ourselves that we will give it some more thought at another time - tomorrow, next week, next year!
But for your own sake, and for the sake of your loved ones, it makes sense to plan now for how you will manage in later life.
In particular it is worth thinking about the following:
- Whether your finances and other affairs will be properly looked after should you no longer be in a position to look after them yourself
- Whether you have a legally binding will, and can be confident that your affairs will be dealt with in accordance with your wishes in the event of your death
- Whether you will be financially secure in later life.
- Whether any pension arrangements you have are secure, and will give you the best possible results when the time comes to retire
- Whether your savings, investments and other assets are in the best accounts and schemes for you to make the most of them
- Whether you will be able to access and pay for a good level of care and support should the need ever arise
Some people don't have the luxury of being able to plan ahead, and are struggling to cope financially right now - perhaps you are experiencing problems with debt, don't know whether you are entitled to state benefits, wondering if there is other financial support available to you, or have been the victim of financial exploitation or crime.
People's financial arrangements and needs can often be complicated. It is always worth talking about your finances with independent experts to be sure that you are getting the most complete and accurate advice. It's also important that any advice you receive on money matters is impartial and puts your needs and interests first.
On this page we make suggestions on some of the people you can turn to for advice.