Financial Planning – No Punting Needed!

What is wrong with the suggestion floated in the quality press over the weekend that it may be sensible for the “squeezed middle” to try to maximise the returns on their savings, whatever the risks involved, in order to afford to fund their children’s university costs. We should “take a punt” with a very small proportion of our wealth by investing in high risk funds that might double in value over the next 5 or 10 years.

Everything!

There is a far superior alternative – taking independent financial planning advice. Financial planning is about helping clients achieve their financial objectives and if done properly should put clients firmly in the driving seat rather than bad advisers/conventional wisdom press enjoying or exploiting a clients/readers ignorance!

It makes very little sense – doubling your money on a very small proportion of high risk funds (if it happens) does not double your money overall and will make little or no difference on the total returns of a well diversified portfolio which should in any case contain a very small proportion of high risk funds. Good investment planning advice need not involve punting.

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