Building and maintaining your savings

You want financial security for yourself and your loved ones, but with so many options out there it's difficult to know which way to turn. Thankfully, Supportive Financial Planning is here to help.

You may want to invest for growth or income, or you may want to achieve a combination of both. You may have particular requirements on tax efficiency, flexibility, the level of risk, or a mixture of these.

Cash deposits are generally considered to be safe and, in absolute terms, cannot fall in value, with the likelihood of the bank or building society going bust being rare. It is generally considered sensible that we all keep some monies set aside as cash deposits for our short- and medium-term needs. One risk associated with cash deposits, however, is that although they cannot generally fall in value, the returns often do not keep pace with the rate of inflation and struggle to beat it. This means that you may not be able to buy the same things in the future as you can now and the purchasing power fails. Many people have savings as cash deposits and also have money invested over the longer term.

When it comes to investing, there are 'wrappers' including ISAs, Collectives, Onshore Bonds and Offshore Bonds, and within these we can construct an investment that matches your attitude to risk. You may wish to beat the rate of a typical building society with low risk to your capital; others may be more adventurous. Of course, the greater your appetite for risk, the greater the risk to capital, especially over the shorter term, and all investments can go down as well as up.

At Supportive Financial Planning we help people to make the most of their money. We will show you how to plan your financial future and make wise investments with the aim of helping you reap rewards today as well as tomorrow.