A Plan B for Financial Success

Financial success is something we all strive to achieve. However, sometimes life throws a curveball, meaning that even the best-laid plans can go a little awry. That’s why the savviest out there have a Plan B: an alternative roadmap that they can fall back on should their expected financial planning not go completely—well—to plan…

The Path to Financial Success is Rarely Without Challenges

• What is financial success?
• Smoothing out the rough spots

What is financial success?

True financial success has a different meaning to all of us. Perhaps it means working your way up the property ladder, having enough to fund your kids through the best college, driving a nice car, enjoying the odd meal out, and having enough to comfortably retire with a little extra in hand. For others, striving for extreme wealth is the only course of action. 

For most, achieving the former would make us happy. The latter we think of in our wildest dreams. Whichever camp you fall into, it’s necessary to have a backup plan to help you reach your financial goals, even if life chucks a spanner in the works (which it inevitably does…).

Smoothing out the rough spots

A Plan B is what every American needs to have in place should those just-in-case scenarios happen.

However, those scenarios are far more common than you’d probably like to think. Life happens, no matter how good your planning. What if…. 

• You lose your job
• You become ill or injured and can’t work
• Your relationship breaks down
• You or your spouse dies unexpectedly or before their time
• Any assets you own and depend on for income dramatically reduce in value (for instance, a business going bankrupt or a stock market crash)
• You get sued and end up owing a large amount of money

These are not uncommon challenges. Here’s betting you have personal knowledge of at least one person who’s experienced one or more of the above. 

DIY or Guided Path to Financial Success? 

• Is it luck or judgment? Why most need a helping hand

Is it luck or judgment? Why most need a helping hand 

Let’s face it… If you manage to go through life without at least one major hiccup then you’re very fortunate indeed (lucky, dare we say). However, rather than throwing your cards in the air and letting them fall where they will, putting a ‘What If’ plan into place can negate the effects of many of these common issues.

Taking advice from a trusted financial source can help you put a viable economic plan into place, should the worst happen. This might include some or all of the following:

Insurance to protect against issues, such as unemployment or an inability to work

Life insurance should you or a loved one die

You might consider a financial agreement before a marriage or partnership agreement, especially if one person is far more financially secure than the other 

In addition, such a professional will also advise on any potential holes in your Plan B, helping you to spot any potential risks that you might not have spotted. They will also provide the necessary expertise to aid swift financial bounce back should the worst happen. 

Ready to Define Your Plan B? Contact Capita for Expert Financial Advice

At Capita we know that financial security necessitates a Plan B. Our bespoke financial and investment planning works around your circumstances, creating an individual pathway to security in both the present and future.

Find out more at https://www.capitafinancialnetwork.com and get in touch today to start your roadmap to financial success—whatever challenges might lie ahead.