Are you a business executive/owner who is used to forecasting profits? Why don’t you do the same thing for your own personal finances?

Sep 30, 2015 | Tony Byrne's View

shutterstock_56775931-u14011-fr_2xIf you are a business executive or own your own business I suspect you probably look at the company accounts on at least a monthly basis. During the course of the year you will also use these accounts to make forecasts on sales, profits and cash flow for the next few years.

As a company you need to know what you are likely to bring in and what you can afford to spend. It is vital to keep on top of this information right?  Well why should your own personal finances be any different? If you think about it, it’s the same information that you use in your company that you need to know about yourself, particularly if retirement is on the horizon or you are just trying to find a better work/life balance.

You need to be able to forecast what income you are likely to receive in the next few years and well into retirement, what returns your investments are likely to make and how much you can afford to spend. Ultimately – how long is your money going to last! We use a system called Money Forecast that does all this for you. Our clients advise us that it only takes them around 10-15 minutes to complete our Foundation Questionnaire which we then use to create your own personal Money Forecast cash flow projection. Using appropriate assumptions it will forecast all your income and expenditure over the long term including the value of your assets.

If you are planning on retiring or scaling back on work surely this information if vital to you?! But this is only the beginning, once you have this forecast you can put the planning in place now to save yourself a massive amount of future taxation and amend your investments so you can get your money working harder. Just like for your company this information can be reviewed and adjusted on a regular basis.

We have helped a number our clients using this system to give them confidence so they know exactly how far they can push their finances. Many have retired earlier than they thought possible and we have helped to turn their dreams into reality! However don’t just take our word for it, check out what our clients’ say here. We are currently offering a FREE demo of our Money Forecast software to business executives/owners who contact us by 16th October 2015. Please click here to book an online session. Carl Roberts Chartered Financial Planner Wealth & Tax Management

Our Scorecards

Try out our quick and free assessments; your personalised reports will instantly be created.

Useful guides

We've created two useful documents to help you find a Independent Financial Adviser and make sure you get the most from them.

16 Questions To Ask Your Independent Financial Adviser

How to find an Independent Financial Adviser

    To download this file, please fill in your information below.