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Blog Feature

By: Sam Instone

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February 1st, 2017

Facing your financial fears

Investment

[Estimated time to read: 2 minutes]

Does worrying about money keep you awake at night?

You’re not alone.

A 2016 survey* into financial anxiety revealed the following:

  • 85% of respondents worried about money
  • 66% felt that financial anxiety was affecting their health
  • 25% said their financial fears kept them awake on a nightly basis

Facing your financial fears

Such stuff as (bad) dreams are made of

The same survey identified the money worries that people fear most – do you relate to any of these?

  1. An unplanned emergency
  2. Unplanned medical expenses
  3. Insufficient savings to retire
  4. Outliving retirement savings
  5. Becoming a financial burden
  6. Inability to afford healthcare
  7. Unemployment
  8. Identity theft/theft
  9. Extended unemployment
  10. Death/loss of primary earner

Each of these worries has their root in the same thing – fear of the unexpected.

Worry gives small things big shadows

Money worries have a greater impact the more you try and ignore them.

If you deny your worries, running from them all day, they creep into your mind at night when you crave rest.

Turning and facing them will give you the power to overcome them…here’s how to do that.

3 steps for banishing financial fear

1. Considering the root of most people’s financial worries is fear of the unexpected, the first step to banishing fear is having funds to cover the unexpected.

Build a realistic emergency fund if you haven’t already done so.

This should be sufficient to cover six months of all your outgoings.

Emergency Fund

With that in place, now make that money work harder for you.

2. Change the way you save and invest.

Simple savings could be losing you 5% annually or more because of inflation.

The wrong investment could be costing you far more in annual fees and charges.

And if you can’t access your money in the event of an emergency, your wealth is effectively worthless.

Change all of this by:

  • Investing passively for the highest returns
  • Pruning superfluous costs
  • Maintaining flexible access to funds

3. Finally, get support from a vocational professional to ensure financial fear never undermines your quality of life again.

Choose a chartered professional. They think, act and advise differently from their salesperson peers, because they have your financial interests at the heart of everything they do.

Chartered financial adviser

They will ensure your investment approach is aligned to your goals and to allay your fears.

They will ensure you remain on track no matter what, and that you’re safely invested for the best financial outcome.

In the event of an unexpected financial occurrence, their expertise will ensure your long-term monetary health is unharmed.

Start now and sleep soundly tonight

  • Request your free portfolio review now, and immediately see where you can cut investment costs for an instant gain.
  • See which passive solutions will give you the best returns and the most flexible access to your wealth.
  • Be given the tools to build on your financial strength.

Begin banishing your financial fears today.

*Source: https://www.northwesternmutual.com/about-us/studies/planning-and-progress-study-2016

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About Sam Instone

Sam Instone, CEO at AES International, is passionate about positive change and ensuring expat investors get the best results.

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