Reviewing Existing Investments
Successful savers often accumulate their investments over many years. Their skill lies in the discipline to put something aside on a regular basis. Those who accumulate in this way have the happy knack of forgetting about their savings from one year to the next which is partly the reason why they avoid the temptation to spend it unless absolutely necessary. However, they are less likely to spend much time on considering where their savings are accumulating which is a less important issue in the early days but becomes more relevant when the sums accumulated are more substantial. This might well coincide with the receipt of an inheritance or lump sums paid out from a pension plan.
In these circumstances it becomes much more important not to have too many “eggs in the same basket”. A review of that which already exists and how it can be adjusted to provide a balance of underlying investment assets, including cash savings, in a way that will best suit the individual’s requirements and objectives for the future, should be well worthwhile.