The first article in the “financial planning for dummies” series identified the 5 most common risks people face, namely: Dying too soon and leaving debt or dependents. Living too long (insufficient funds on which to retire). Disability (over a short or extended period). Funds for short term emergencies. Debt! This article looks at the second of these risks; Living too long – the risk here is that of outliving your funds. From a...

It’s so easy to save money! One of the “compulsory” forms of insurance that people with bonds have to have is Home Owners Insurance – this is insurance that covers the cost of replacing the building if it is destroyed through things like fire and floods. Usually the bank that provides the bond also very kindly arranges this insurance and the unsuspecting home owner signs the policy document. There are at least 2 huge problems with...

Financial planning for dummies! I rememebr reading that one of the main reasons that the majority of consumers did not do any financial planning was the perception that they did not have sufficient money to justify a financial plan. Add to this to the existing perception that financial planning is a really onerous and complex process and that most advisors will just try to sell you more insurance and it is no wonder that many people are...