Karen Sheldon, Director of Sheldon Flanders Financial Services Ltd, the financial advisory firm based in Derby, speaks on why financial planning is pivotal in today’s economy.
I love the following sayings…’Fail to plan, plan to fail!’ ‘If you don’t know where you are going how can you ever get there?’
Whilst not specifically related to financial planning, this is so true of financial planning and in my view is essential, especially in today’s society. Most life journeys do not continue in a straight line. There are usually twists and turns and bumps along the way and without financial planning you could face difficult times. Financial planning ensures you can plan your journey and if life events get in the way you can adapt.
Financial planning is even more necessary in today’s world. I know every decade has had its challenges, and I’m aware that there hasn’t been such a thing as a “job for life” in a very long time. However, I don’t think I have ever experienced what feels like a constant barrage of challenges and issues affecting markets, issues affecting employment and uncertainty in the economy on such a regular basis, which has in my opinion exacerbated the need for strategic financial planning. I don’t see these challenges ending any time soon.
The world is changing rapidly, new markets are opening up, the employment arena looks vastly different and will only keep changing, and the economy is uncertain. The one thing I absolutely stress though, is whilst we do not know what is ahead of us, we do know what planning tools are available today, and whilst these may change in the future, the benefits of planning today will never change.
When I decided to set up my firm in 2008 I set out to make an impact and give back to the community as well as work around my children and I haven’t looked back since. At Sheldon Flanders Financial Services Ltd, we specialise in pensions and wealth management and I in particular deal with high net worths for this and with group pensions for companies.
As a firm we are on a mission to make sure financial planning is available to all, irrespective of wealth, in a sustainable way. I am looking to grow our team to include advisers that are available to offer advice to those who would at times feel financial advice isn’t available to them. I am also looking to develop an application that will be available to all to help as well in those vital decisions, effectively ensuring we can provide financial planning solutions for all who require it.
