Welcome Back

Bring on 2016 – the JBS team have all enjoyed some time off and are now ready to kick start the year.

For many of us, the start of a new year allows us a fresh start, a new beginning or a clean slate. This time of year also presents a great opportunity for you to review your financial strategies and goals.

Financial reviews should take place regularly when you have the opportunity to make informed decisions and factor any changes into your financial plan. Below are some simple tips to tidy up your finances for the year ahead.

Have your key financial goals changed?
Our lives are not constant and our goals change slightly (or greatly) from year to year. Also, major life events such as serious illness, the birth of a child, inheritance, marriage and the death of a parent or spouse can all result in significant changes to our wealth management goals.

Prioritise your goals
It is important to rank and prioritise goals and decide in what timeframe you want to achieve them. Being realistic about your timeframe is essential to ensuring that your goals will be achieved.

Short, medium or long term?
Most industry experts agree that a short-term goal is one that can be achieved within a year or so. Medium term goals typically require two to five years, and long-term goals usually take longer than five years.

If your financial goals have changed, how will this affect your financial strategy?
This is where the advice of a financial adviser is critical. Advisers have the tools and knowledge to create projections that take into account changes to your goals and changes to your timeframes for achieving them. These projections will help you to see where your plans for savings, assets or investment contributions may need updating.

Be savvy
Make sure that your investments and level of protection support your level of risk and your goals.

Be sure to contact the JBS team if any of your circumstances have changed to ensure you are on track to reach your financial goals.

JBS would like to wish you a fabulous year ahead and hope that you are sticking to all those resolutions and goals you have set yourself for 2016.