Posted by: WealthIFA | August 12, 2011

Financial News Update we 12/08/2011

How have you been?

As expected the majority of new items this week discuss the sharps falls of the stock market over the last few days and weeks.

What with that and the scenes of violence up and down the country, once again I am minded to concentrate on sporting achievements instead – more specifically those of the England cricket team.

Without wishing to count chickens, they are now (at the time of writing!) so close to becoming the number one cricket team in the world!

But alas, it would not be much of a “Financial News Update” if we spoke about the cricket now would it?!!…

Firstly though, the item about the mother winning her legal battle with her daughter in law over the burial of her soldier son, represents just why it is so important to let everyone know your wishes… going to court to resolve this kind of thing is what most, if not all, would want to avoid I am sure.

The “crisis” we have all experienced over the last few weeks has presented either a disaster or an opportunity depending on whether you are looking to take an income from your investments/pensions or if you were thinking of investing any time soon…

If you fall into the latter then now could present a good buying opportunity although no one knows at this stage (do they ever really know anyway?) whether the falls experienced have further to go or if we are at the bottom?

For the former, there is definitely uncertainty out there right now and you could be forgiven for taking the ostrich approach until it was safe to come out however, I would urge anyone concerned about recent events to seek advice or, at the very least, to take stock of their holdings and perhaps review their plans.

Someone was referred to me this week who, in our first conversation said she was unsure of whether to see me as there was “…probably not a lot you could do…”

Having met with her and discussed the situation it was discovered that things were not as bad as she had first thought and just speaking about her current predicament had helped – sometimes just speaking about a “perceived” problem helps one to come up with potential solutions.

So in the first instance I would urge those concerned not to panic just yet, next would be to gather all of the financial information together and either go through it with your adviser or review things yourself if that is your preference.

Reviewing your finances on a regular basis is something we should all do but, like most things, “life” gets in the way.

So whilst it may seem a tedious chore to review your financial affairs, if nothing else, the last few weeks have taught us that leaving things to chance may not be the right approach?…

This Week …

Estate Planning

Mother wins legal battle over soldier son’s final resting place http://bit.ly/nch42j
Celebrity’s son fined for concealing legacy http://tgr.ph/otLG0T

Former partner fails to prevent executors selling off property http://bit.ly/nFpx1R
Charities may be invited to volunteer as deputies http://bit.ly/qULhrd

Long Term Care

Care home sites up for sale in East Sussex: http://bit.ly/ruBZQF
Benefit checklist to help with West Sussex resident’s care costs: http://bit.ly/pdfEgk
The checklist itself: (Care Guide 2011/12 – Benefit checklist PDF) http://bit.ly/mQtvAh

Retirement

How a stock market crash affects your pension, investments and job: http://bit.ly/oNbOov
Annuity rate dive will hit millions of retirees short: http://bit.ly/r9jJQP
Older people forced to sell homes to pay for retirement, says survey: http://bit.ly/rlTOj4
Which?: Financial crisis 2011 – how you might be affected: http://bit.ly/p67HoX

Investments

How a stock market crash affects your pension, investments and job: http://bit.ly/oNbOov
The stock market crash: how it affects you: http://bit.ly/p76SqL
Eurozone crisis: What market turmoil means for you: http://bit.ly/o3uPQ1
How to afford school fees: http://bit.ly/qNaj5O

Have a great weekend!

Regards
Kieron

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