The Informed Freelancer
As professional freelancers ourselves, we fully understand that your contract, education and family commitments just about take up all of your time leaving you little or no time to commit to understanding some of the most important topics upon which you will make financial decisions. These decisions will have an impact on your entire life. The most important outcome will result in the value of your accumulated wealth at your retirement date being categorised as enough, comfortable or maximised. The difference between these three outcomes does not happen by chance, it requires thought and intervention.
As you read this you should recognise where you are on that linear process of a) having made no decision yet, b) having made some poor ones to c) thinking you are one of those who have done all the right things … but have you maximised your wealth potential and limited your risk exposure? To answer this question with clarity, you need to be an Informed Freelancer. To become one we have developed a simple six step guide as follows:-
- Understand key terminology, IFA Guide To Financial Services
- Overlay your own circumstance on the IFA LIFE Planning Model
- Understand our LIFE Planning Six Stage Awareness Programme
- Consider the key financial products and services unique to your profile
- Set up a meeting with a regulated Independent Financial Advisor
- Agree a five year plan, stick to it and review it annually.
Having completed the steps above, you will be an Informed Freelancer, you will now be able to have fruitful meetings with an independent regulated Financial Advisor. This will enable you to make informed decisions based on your bespoke current circumstances underpinned with financial facts. It will ensure you are equipped to be an informed BUYER of those services and products you need rather than buying products you don't understand. All products you purchase must, demonstrate by analysis, that they will return to you projected added value within a predefined time scale or are insurances designed to protect the wealth you have already built up for you are your family.
In the 1980s there was a massive transfer of power in the retail industry through the use of the then innovative technology. The power went from supplier to purchaser hence the unstoppable rise of the supermarket giants of today; this transition took place by the management of available information. We are simply encouraging and enabling you to do the same. You CAN have that information. Get it and use it.
The IFA LIFE Planning Model provides you with an overview of financial products and services that would typically be a part of a freelancer's portfolio depending upon age, wealth, turnover and tax status. These will at a glance highlight whether or not you are progressing towards wealth maximisation in a managed way or just by chance.
The IFA Guide to Financial Services provides you with outline information on specific terminology, products and services.
Each individual freelancer is unique, our general information is designed to get you thinking and for you as an informed individual to generate your bespoke wealth maximisation plan in consultation with independent professional Financial Advisors.