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Saving For a Rainy Day

Are these the rainy days that, according to the saying, we are supposed to be saving for? Certainly Storm Dennis, following hot on the heels of Storm Ciara, has caused widespread flooding across Devon and even resulted in the Met Office issuing a rare Red ‘danger to life’ weather warning. So undoubtedly some will be dipping into savings or calling on their insurance providers for assistance. 

Sadly, the rainy days of the saying can happen at any time and are not just caused by inclement weather. Having a financial cushion can help but it is also important to ensure that when you need to call on your savings you can do so in a timely manner. That is one reason why best practice advice in respect of investments looks towards developing a mixed portfolio. This not only takes account of a geographic and sector spread but also includes some relatively liquid investments or savings that can be accessed as needed. 

If you are looking for advice on investment planning, or if your situation has changed and you may therefore need to review your existing pensions or investments, contact Beckworth by using one of the links on our website.

Photo by Andrea Piacquadio from Pexels