Regularly Review Your Plan

9. Regularly review your plan

If the only steps that you take are step one of setting your goals, and this step – regularly reviewing your plan, you will be ahead of other people who haven’t even done that.

The reason that you should regularly review your plan is that things change.  For many of our clients, their life changes every few years in the phase between age 25 and 45, then around every five years after that until retirement.

But more importantly the financial solutions change continuously – every day there are changes to insurance products, and investment and KiwiSaver solutions.

We often work with people who have done absolutely the right thing in the past and put in place insurances, superannuation and investments, based on what was available at that time.

But things change, locked in superannuation, high fee and underperforming investments, insurances that cost more than if you put in place new insurance today (depending on no significant changes in your health), KiwiSaver managers who are consistently underperforming……

You should be monitoring all these things and making sure that your financial solutions are the best for you and working for you.

You should review your financial plan every couple of years (or annually if you work with Moneyworks on an ongoing basis), but at least every five years.  This means that you will keep up to date with trends and you will keep your money working for you to reach those goals.

Sustainable Investing - Climate Change and human activity and how investing can help slow down change

At Moneyworks we use the shorthand terminology 'Ethical Investing' to cover a range of investing styles that can also be referred to as 'Sustainable', 'Responsible', 'ESG (Environmental, Social,Read more

​ Banks being held responsible for fees, conduct and lending practices

Our banks are an integral part of our lives and pretty much hold us hostage with their fees and decisions, unless we choose to be part of the barter economy, or become self sufficient, we will alwaysRead more

How to retire - well, how to get ready to change your life

Our byline on our logo is 'Helping you get to and through retirement - ethically'. Yes, this is mainly about making sure that you have enough money to enable you to retire, and that if somethingRead more

Should New Zealand Superannuation continue to exist as it is?

Moneyworks was established in 1997, which was the same year that the referendum on compulsory superannuation was held as a result of Winston Peters negotiations to form a Government.  ThisRead more

Should adult children be able to challenge their parents wills?

You will have seen the headlines in the media about families at war over their parent’s wills.  The arguments of the Green familyRead more

The Dow Jones turns 125 years old

If you have been investing for some time - even it has just been in KiwiSaver, you will know that markets go up and down in value depending on market events, but over time they do increase.  This isRead more

Cyber Security issues and protections are getting far more important

As your financial adviser, we work with you to reach your goals, in particularly to get you to and through retirement - ethically (for those who want ethical investments).  But a big risk to yourRead more

Abuse of people knows no limits

We all know the stories of people being abused within closed doors, and New Zealand has the Family Violence Act (was Domestic Violence Act) to recognise the harm that abuse incurs. Email and socialRead more

Do you know what is in your insurance policy?

Fair Go and the media regularly cover situations where insurance companies don't  pay out on a claim.  Having been an intermediary between insurers and the insured party for 25 years, we have seenRead more

Some interesting things that we have read or listened to recently

This post is a little different, as it doesn't have a commentary on these articles, but they are interesting articles that might be worth a quick look at: How to dismantle the Absurd ProfitabilityRead more

Ethical Investing Update

As we have signalled, we are working on a big project this year to become internationally certified as Ethical Investment Advisers, and to be able to provide our clients with certainty over whatRead more

No more cheques - technology has taken over

You may be aware that I am quite a fan of technology and adapt technological advances (in the belief that it will make my life easier, but we all know that technology brings its own challenges - itRead more
 

This product has been added to your cart

CHECKOUT