Posted by: WealthIFA | October 12, 2012

Financial News Update we 12/10/2012

How have you been this week?

It suddenly hit me yesterday how easy it is to break a habit.

Preparing these updates each Thursday and Friday was just another part of my working week but having had the summer break, getting back into the habit has been harder than I expected.

If you want something to become habitual, I have read somewhere that you need to repeat it several times (at least 30 springs to mind?) within a fairly short period but I guess the latter part is not always the case.

If you have always reviewed your financial affairs regularly whether it be monthly or annually, it is possible that you now simply do it as it has become a habit and you almost do it without dwelling on whether or not you should be doing it or even can be bothered to do it?

There are many though who, having taken the time to consider their financial options at one point in the past – be it for their retirement or future investment provisions – have just not got around to reviewing what they have previously set up.

In an ideal world, once we took action, the issue we once had would be resolved…

But the world you and I live in is constantly changing both internally perhaps with many issues you once never considered now becoming relevant (retirement, care fees, inheritance tax) as well as externally, as the last few years have taught us, that things change which are simply beyond our control (housing slump, credit crunch, market ups and downs etc) and our situations or requirements are altered because of these changes.

Without reviewing what you have done in the past, how will you know if it is still on track to do what you originally wanted it to do or indeed, if you still need it to?!

If you have any sort of financial plan then I would urge you, if you don’t already, to review your plans regularly and, as an analogy, not many (there are always exceptions!) would expect to buy a car and never need to get it serviced yet many do exactly this with their financial plan(s)?!

Anyway, quite a few pieces from the news this week that may be of interest are highlighted below.

Have a great weekend!

This Week …

Estate Planning

Saga targets confused legal consumers http://bit.ly/RjftVL
Family at war over legacy of Italian tycoon http://bit.ly/QUxbl3
Don’t leave your family with a legacy of trouble: make a will http://ind.pn/VW6BLm
Couple win farmhouse under aged uncle’s promise http://bit.ly/TCUbHA
Banks agree standard procedures for handling deceased clients’ accounts http://bit.ly/VW7Nyj

Long Term Care

Paul Burstow accuses Treasury of trying to “smother” care reform: http://bit.ly/PI0q8j
Sunrise encourages seniors to get online: http://bit.ly/SQQ2iN
Profile: Baroness Greengross http://bit.ly/SZyot9
Pensioners may have to wait years for elderly care funding, warns Jeremy Hunt http://bit.ly/SOEQSo

Retirement

Age UK demands providers promote the open market option (OMO) more clearly: http://bit.ly/R5rvBG

Investments

National Savings research shows young adults leading the way: http://bit.ly/Q5Jes0
A new breed of DIY investors will be created by banning commission: http://bit.ly/QdiRk7
Investment trust charges under pressure as OEICs undercut rivals: http://bit.ly/VKqV2n

Regards
Kieron

DISCLAIMER

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Please Note: The purpose of these updates is to report article content that may be of interest to you and/or your clients. Any information should not be construed as specific financial advice. Therefore, before any financial decision is made or plans are implemented, independent financial advice should be sought.

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