When in (financial) doubt – talk it out!
According to a recent survey1, 90% of households are worried about rising prices. Financial worries can cause a great deal of stress and anxiety; nearly one in five people say they have lost sleep over soaring prices in recent months2.
Money and wealth often feel like a bit of a taboo topic for families. Research3 found that a third of people keep financial secrets from their partner, for example, hiding savings or investments from them.
It’s so good to talk
With the rising cost-of-living impacting so many people, taking the time to discuss important financial matters with other family members will help to ensure that the right financial plans are in place to potentially support other family members and safeguard family interests.
Openly discussing financial matters with both your family and us can help establish priorities, clarify goals and ensure that plans are put in place to support each generation according to their financial needs. Having a holistic approach to your family’s wealth can stand you in good stead and provide real focus. We are increasingly being asked to be part of these conversations, not least because we offer sound practical advice in a dispassionate manner. If you’d like us to help your family, then please do get in touch.
2Shawbrook Bank, 2022
3Royal London, 2022
The value of investments can go down as well as up and you may not get back the full amount you invested. The past is not a guide to future performance and past performance may not necessarily be repeated.