How are you setting your life goals? Are you following a well-trodden path or choosing aspirations that are meaningful to you?

Everyone is different and spending some time thinking about what you want to achieve could lead to greater wellbeing and a sense of purpose.

Imagine you’re preparing for retirement. The traditional outlook would suggest you make time to relax, help look after your grandchildren, and maybe book a cruise. That might sound great at first, but when you examine what you want, perhaps you discover travelling the UK in a campervan, penning a novel, or joining a band sounds more attractive.

Similarly, you might have gone to university and are now working your way up the career ladder because it’s the expected route. Yet, there could be opportunities to retrain, take a career break, or launch a business that you could miss out on if you’re not open to different possibilities.

Of course, common goals are popular for a reason, and many might be important to you. But simply ticking off expected milestones could lead to regrets and missed opportunities.

According to a survey carried out by Samsung (10 September 2025), the average Brit spends 5.8 days a year thinking about what they would do differently if they could live their life again.

Pursuing meaningful life goals doesn’t guarantee you won’t have regrets. However, it could help you spend your time, energy, and money on what’s most important to you.

Setting meaningful life goals as part of your financial plan

A financial plan is a long-term roadmap that sets out how you might use your assets to achieve life goals. So, if you want to re-evaluate your aspirations, it’s a good place to start.

Here’s why.

1. Set goals that are focused on personal aspirations

A financial plan doesn’t start by looking at numbers, but by considering what your goals are. As a result, it provides dedicated time to discuss what’s important to you.

You might want to think about what gives your life purpose now and what you’d like to achieve in the future. This allows you to create a plan that balances short- and long-term goals that are tailored to you rather than simply following the crowd.

2. Turn vague goals into clear objectives

When you first set a goal, it’s often vague. You might say “I want to travel more”. This is a good starting point, but you need more details to create an actionable plan. In this scenario, you might benefit from considering questions such as:

• Is this something I want to achieve while working or when I retire?
• Would I prefer multiple short trips or a longer adventure?
• What kind of travel experiences do I want to have?
• Which destinations are most interesting to me?

After pondering these questions, your objective might be more defined, such as “I want to take a year-long career break in 2030 to spend time exploring South America”. You now have a clear objective that you’re working towards, so it’s easier to measure your progress and think about what steps you need to take to turn it into a reality.

3. A financial plan could give you the confidence to pursue goals

Following your dreams can be scary, especially if you’re worried about how it could affect your financial security.

As your financial planners, we can work with you to create a cashflow model that will allow you to assess the impact of different scenarios. For example, if you dream about starting a business, you might want to model whether other income sources could cover essential outgoings or the long-term implications of using a lump sum as start-up capital.

A cashflow model is a tool that uses information about your current assets and assumptions about external factors, such as expected investment returns, to project how your wealth might change in different scenarios.

It’s important to note that the outcomes of a cashflow model cannot be guaranteed. However, as a tool, it could give you confidence in your finances, allowing you to pursue goals and explore possibilities you might have previously dismissed.

4. A financial plan could be useful when goals change

While you might set a meaningful goal now, it’s not set in stone. Over time, the life you want to live could change. A financial plan could improve your security, so you have more flexibility if you want to adjust your short- or long-term objectives.

Contact us

To talk to us about how to build a financial plan around the life you want, please get in touch.

Please note: This article is for general information only and does not constitute advice. The information is aimed at individuals only.

All information is correct at the time of writing and is subject to change in the future.

The value of your investments (and any income from them) can go down as well as up and you may not get back the full amount you invested. Past performance is not a reliable indicator of future performance.

Investments should be considered over the longer term and should fit in with your overall attitude to risk and financial circumstances.

The Financial Conduct Authority does not regulate cashflow modelling.

The government will set out its tax, spending and economic plans for the year ahead and beyond on 28 October 2026 in the Autumn Budget.

The weeks leading up to an Autumn Budget always feature rumours about what might change and how it could affect personal finances. With this Budget being the first for Prime Minister Andy Burnham and Chancellor John Healey, speculation is particularly rife.

You might already have seen headlines declaring that tax rates will increase or allowances will be cut. 

Headlines are designed to grab your attention and could provoke an emotional response. While responding to the news may feel like you’re being proactive, it could lead you to make decisions that aren’t right for you based on rumours that may not materialise.

Here are six useful tips that could help you avoid headline-driven decisions in the coming weeks.

1. Limit your exposure to the news and social media

While avoiding Budget speculation entirely might be impossible, you could limit how much of it you’re exposed to. Skipping speculative news articles or reducing the amount of time you spend on social media may help you feel calmer and less reactive ahead of the Budget.

2. Remember that speculation isn’t the same as policy

Sometimes the reporting of speculation can make it seem as though the suggested outcome is guaranteed. However, there have been numerous instances when rumours have turned out to be just that.

Ahead of the 2025 Autumn Budget, there was news coverage suggesting the pension tax-free lump sum would be scrapped or reduced. Understandably, this news worried people as it could have a significant impact on their retirement plans. When this change wasn’t announced in the Budget, some people may have regretted making headline-driven decisions once they had the benefit of hindsight.

Whether you read the news or speak to a colleague about the Budget, remember that speculation doesn’t mean it will become policy.

3. Keep in mind that not all potential changes will be relevant to you

Headlines often make it seem as though a change will affect every reader. However, this isn’t the case, as your personal circumstances, goals, and strategy will affect what’s relevant to you.

For example, you might read that Capital Gains Tax (CGT) rates are set to rise and immediately worry about how your overall tax liability will increase. Before you react, take a step back – do you pay CGT now, or are you planning to dispose of assets that could result in a CGT bill? If the answer is “no”, you might be fretting about a speculated change that wouldn’t affect you.

Even when announcements are relevant, you may be able to work with your financial planner to create a strategy that mitigates the potential effects.

4. There’s often a transition period before new policy is introduced

The Budget is used to announce changes that could affect your finances. However, there’s often a transition period.

For example, Rachel Reeves, the former chancellor, announced the introduction of a Cash ISA limit of £12,000 for under-65s in the November 2025 Budget. This change won’t come into force until 6 April 2027, giving savers over a year to review their finances and adjust their plan accordingly.

The transition period means you don’t need to make knee-jerk decisions. Instead, you can discuss your concerns and options with your financial planner to make an informed decision that reflects your wider circumstances.

5. Build in a delay before you act on decisions

Strong emotions that could provoke a reaction when reading Budget speculation often subside over time. Building in a delay between making a decision and acting on it could give you time to reassess your choice with a clear head and help you avoid making changes to your financial plan that you may later regret.

6. Get in touch with your financial planner

When you’re unsure how to handle your finances or are worried about what changes could mean for you, we’re here to help.

We’ll be watching the Budget closely and, should any announcements affect you, we can work with you to make any necessary adjustments. If you’d like to arrange a meeting, please get in touch.

Please note: This article is for general information only and does not constitute advice. The information is aimed at individuals only.

All information is correct at the time of writing and is subject to change in the future.

Please do not act based on anything you might read in this article. All contents are based on our understanding of HMRC legislation, which is subject to change.

The Financial Conduct Authority does not regulate tax planning.

After months of volatility, markets were relatively calm in August, though economic data was mixed. Discover what factors may have affected your investment portfolio throughout August 2026.

When markets opened on 3 August, it was a good start to the month. Falling oil prices led to the Stoxx Europe 600 index, which provides a broad measure of the European market, being up 0.5%. Similarly, US markets rose when they opened, with the S&P 500 index up 0.5%.

However, the FTSE 100 remained flat, with oil giants BP and Shell dropping 2.8% and 2% respectively on the back of falling oil prices.

The positive performance in Europe continued on 4 August, when the Stoxx Europe 600 was up 0.62% thanks to rising corporate earnings, led by the industrial sector. London’s mid-cap index, the FTSE 250, also reached a record high.

Throughout June and July, technology stocks experienced sharp falls amid concerns that AI companies were overvalued. On 5 August, technology stocks boomed, which could suggest some of the fears have eased.

Asian markets in particular benefited from a jump in technology stocks, with Japan’s main index, the Nikkei, up 3.6% and South Korea’s Kospi rising 4.1%.

UK pharmaceutical company AstraZeneca saw shares rise 4% on 5 August after the company reported there were no discussions about a tie-up with US rival Bristol Myers Squibb (BMS). In contrast, SpaceX, which completed its initial public offering (IPO) in June, saw shares fall by around 12% after it revealed higher-than-expected capital expenditure.

Despite the US posting poor jobs data on 7 August, New York markets opened higher due to an interest rate hike now being less likely. The S&P 500 index was up 0.33%, while the technology-focused index, the Nasdaq, increased by 0.7%.

The middle of August was relatively calm, with markets remaining largely flat. On 24 August, ahead of sanctions being placed on Iran, Wall Street opened lower, including the Nasdaq declining 0.4%.

After years of speculation, Shein’s IPO announcement was made on 24 August and was underwhelming. The company will list in Hong Kong with a valuation of $27 billion (£19.8 billion), almost half the amount that was speculated.

Once again, technology stocks lifted markets on 25 August. The Nasdaq index was up 0.7% thanks to US inflation data and AI giant Nvidia.

In Europe, markets were mixed. The FTSE 100 was down 0.15%, and Germany’s DAX increased by 0.65%. However, the main indices in Spain dropped and France remained flat.

UK

The UK government will deliver the Budget in October. It will be John Healey’s first Budget as chancellor and economic data could affect his decisions.

Figures from the Office for National Statistics (ONS) show GDP grew by 0.4% in the second quarter of 2026 thanks to the World Cup and good weather encouraging people to spend more. It follows growth of 0.6% in the first quarter of the year and represents a strong first half of 2026.

However, professional services firm EY warned that the UK economy could fall into a recession if the Strait of Hormuz remains closed. The firm suggests GDP could fall to 0.5% in 2026 before contracting by 0.2% in 2027.

Further data from the ONS also wasn’t positive. First, inflation was 2.9% in the 12 months to July 2026, compared to 2.6% in June, and above the Bank of England’s 2% target.

In addition, the UK had a larger-than-expected deficit of £1.8 billion in July, which could signal some difficult decisions for the chancellor.

That being said, S&P Global’s Purchasing Managers’ Indices (PMI), which measure economic health, could suggest the economy is strengthening. In July, the readings revealed that:

• Business activity increased for the first time in three months, suggesting firms are more optimistic.
• The construction sector stabilised, with the PMI going from 34.4 in June to 44.7 in July. While the reading is still below the 50 mark that represents growth, it indicates a strong improvement.
• The UK service sector grew by more than expected, with a reading of 52.8 that was linked to sunny weather and technology investment.

Europe

There was positive news for the eurozone economy. In the second quarter of 2026, GDP grew by 0.4%.

Germany’s statistics office revealed that factory orders rose faster than expected. Economists had anticipated a rise of 0.3%, but orders were up 3.1% in June when compared to the previous month.

The Sentix sentiment index, which measures eurozone investor sentiment, unexpectedly moved into positive territory in August.

The latest PMI readings could provide an insight into what’s boosting investor outlook.

Eurozone activity hit an eight-month high with a reading of 52 in July. While the construction sector is still contracting, with a reading of 44.3, it is moving in the right direction.

US

US inflation increased in line with estimates at 3.4% in the 12 months to July 2026, though it remains above the 2% target.

Other economic indicators could also signal challenges ahead. Retail spending fell by 0.6% month-on-month in July, which could indicate that consumers aren’t feeling optimistic.

In addition, economists had predicted that 80,000 new jobs would be created in July. But official data show the economy lost 23,000 roles. The dip could suggest that businesses aren’t feeling confident about the future and it means the Federal Reserve is less likely to raise its base interest rate to try and reduce inflation.

Please note: This article is for general information only and does not constitute advice. The information is aimed at individuals only.

All information is correct at the time of writing and is subject to change in the future.

The value of your investments (and any income from them) can go down as well as up and you may not get back the full amount you invested. Past performance is not a reliable indicator of future performance.

Investments should be considered over the longer term and should fit in with your overall attitude to risk and financial circumstances.

After years of diligently saving into a Junior ISA (JISA) for your child, handing them control of the account might feel daunting.

Will they appreciate your efforts and continue growing this fund to pay for something meaningful, such as university or their first home? Or might they splurge it all on something frivolous like extravagant holidays and clothes?

Taking the time to prepare your child for this responsibility could help them make informed decisions about managing their savings and investments.

Keep reading to learn how JISAs work and to discover four practical steps to take before your child accesses the account to help them make the most of their money.

How JISAs work and why they’re a powerful way to invest in your child’s future

A JISA is a tax-efficient account a parent or legal guardian can set up for a child under 18 who lives in the UK.

There are two types of JISA:

• Cash JISAs – These work like a standard cash savings account, but there is no tax to pay on any interest earned.
• Stocks and Shares JISAs – Any funds you contribute will be invested, and you won’t pay tax on any capital growth or dividends you receive.

In the 2026/27 tax year, you can contribute up to £9,000 to a JISA.

Your child can take control of the account when they’re 16, but they can’t withdraw any money until they turn 18.

A JISA is a powerful way to build a savings pot for your child because it offers tax-free growth, and funds have 18 years or more to benefit from compounding (earning interest on interest). As such, a JISA could give your child a valuable head start in adulthood.

4 practical steps to prepare your child for taking control of their JISA before they can access it

If you’re concerned about handing over the reins of your carefully nurtured JISA, here are four steps to consider taking before your child can access their account:

1. Talk to them about the goals you had when setting it up

Explaining your intentions could help your child see their JISA as a purposeful gift, rather than just a windfall. This might reduce the risk of them blowing the lot on an impulsive whim.

Perhaps you imagined the funds might be a meaningful contribution to university costs, a gap year, or a deposit on their first car. You might find these are goals you share with your child. If not, talking openly in this way may encourage them to think carefully about how to use their money in other ways.

Focusing on choices and options, rather than “rules”, allows your child to feel trusted and capable, making them more likely to engage thoughtfully with their JISA.

2. Listen to how they might want to use the money – and plan together

When your child turns 18, the account automatically matures and converts into an adult ISA in their name. They’re free to use the funds as they see fit, and your parental control legally ends.

Before this happens, try to move the conversation on from “my plans for you” to “our plan for achieving your goals”.

The first step towards achieving this – once you’ve explained why you set up the JISA – is to give your child a chance to explain how they want to use the money.

Try to resist the urge to correct them or disagree. Instead, work together to create a plan you’re both happy with, including achievable short-, medium-, and long-term goals.

3. Consider a gradual approach to handing over control

Start talking to your child about their JISA when they take control of the account at 16. This gives you two years to prepare before they can withdraw any money.

Show them the platform or app you use to manage the JISA and explain what they have in their account (funds, shares, cash, and so on). Teach them the difference between saving and investing and emphasise how they each serve a different purpose.

Over time, you might want to start letting them make small, supervised decisions, such as setting a monthly contribution amount if they have an income.

When they reach 18, you might agree to check in and review their account together for the first few months.

This gradual approach builds your child’s confidence and reduces the risk of impulsive decisions, while giving you peace of mind that they’ll take their responsibility seriously.

4. Demonstrate the value of leaving their JISA untouched

Emphasise that there’s no rush to spend the money when they turn 18 and that leaving their money invested is an important option to consider.

Real-life examples are a great way to highlight the potential benefits of leaving their JISA untouched.

Try using an online compounding calculator, such as this one from Aviva, to show how their current balance could grow over time with a modest, assumed interest rate (make it clear there are no guarantees). Contrast this with a scenario where they withdraw a large lump sum as soon as they turn 18.

This could encourage them to turn their inherited JISA into a lifelong habit of saving and investing.

Please note: This article is for general information only and does not constitute advice. The information is aimed at individuals only.

All information is correct at the time of writing and is subject to change in the future.

The value of your investments (and any income from them) can go down as well as up and you may not get back the full amount you invested. Past performance is not a reliable indicator of future performance. 

Investments should be considered over the longer term and should fit in with your overall attitude to risk and financial circumstances.

Psychology could be one reason why some people are reluctant to invest, even when it fits into their wider financial plan.

Managing risk is an important part of life. You check the road before you cross the street, and you might be encouraged to take out home insurance just in case something happens. So, it’s not surprising that people often seek to minimise financial risk.

Yet, data suggests that Brits are more risk-averse when considering investing than other nations, including the US. According to Manchester Metropolitan University (21 July 2025), excluding workplace pensions, only 23% of people in the UK invest in the stock market, compared with nearly two-thirds in the US.

The difference in the number of people investing indicates that it’s possible to shift away from a mindset that views investing purely as a risk and instead considers the potential benefits.

3 psychological reasons you might prefer cash to investments

1. Market movements can make investing feel uncertain

The value of investments moves up and down as they’re affected by numerous factors. While this is a normal part of investing, it can feel unsettling.

Manchester Metropolitan University suggests that UK media coverage can heighten the feeling of unpredictability. It notes that there’s an imbalance in coverage, with a sharp drop being more likely to feature in headlines than a steady recovery that follows in subsequent weeks. As a result, readers might have a bleaker view of how markets are performing than the reality.

2. The fear of losing money could mean you favour cash

The fear of potentially losing money could lead some people to avoid investing.

The theory of loss aversion suggests that people feel more strongly about losses than they do about similar gains. Some people may shy away from investing without fully considering the risks and opportunities.

An Aviva survey (8 July 2026) found that 46% of people believe that investing is too risky.

There is a risk that investment values will fall and you may not get back all the money you invested. However, when you consider your wider financial plan, you may find that investing is right for you. You can work with your financial planner to assess what level of investment risk is appropriate for your goals and circumstances.

3. Cash is tangible, which may make it feel safer

One reason holding cash might feel comfortable is that it’s more tangible than investments.

People often have a better understanding of cash than investments. If you hold it in a current account or easy access savings account, you can withdraw it from an ATM. Being able to access your money easily can provide a sense of security, even if cash isn’t an appropriate option for your financial goals.

The pitfalls of cash when working towards long-term goals

If you’re saving for short-term goals, such as a holiday or kitchen renovation, cash could be the right choice. However, when it comes to long-term goals, the impact of inflation could mean cash doesn’t retain its value as well as it first seems.

Inflation refers to the cost of goods and services rising. The Bank of England (BoE) aims to keep inflation at around 2%, though it has been above this target since mid-2021. Data from the Office for National Statistics (19 August 2026) shows inflation was 2.9% in the 12 months to July 2026.

Rising costs could erode the value of your savings in real terms if the interest earned doesn’t keep up with inflation. The BoE (19 August 2026) calculates that if you placed £10,000 in a savings account in 2020 until July 2026, you would have needed to earn £3,125 in interest to maintain its spending power.

When you’re saving for long-term goals, the impact of inflation could become more pronounced.

While investing does involve taking risks, it may provide an opportunity for your money to grow faster than inflation and support long-term goals.

A financial planner could help you change your approach to investing

If you’d like to review how you approach investing and whether the amount of cash you hold is appropriate, a financial planner could offer support. By helping you understand your risk profile and how investing might support your goals, we could help you feel more confident when making financial decisions.

Please contact us to arrange a meeting.

Please note: This article is for general information only and does not constitute advice. The information is aimed at individuals only.

All information is correct at the time of writing and is subject to change in the future.

The value of your investments (and any income from them) can go down as well as up and you may not get back the full amount you invested. Past performance is not a reliable indicator of future performance.

Investments should be considered over the longer term and should fit in with your overall attitude to risk and financial circumstances.

In last month’s article, you read about why it’s often more difficult than you expect to identify scams. With the amount of money lost to fraud rising, being aware of common types of scams could mean you’re in a better position to spot the warning signs.

According to UK Finance (15 June 2026), £1.28 billion was lost to fraud in 2025, an increase of 4% when compared with 2024. There were 4.06 million confirmed cases of fraud in 2025, which fall into two broad categories, both of which may affect individuals.

• Unauthorised fraud: This occurs when the account holder doesn’t provide authorisation for the payment to proceed. Instead, it’s carried out by a third party. For example, this could happen if a criminal accesses your bank details and is able to make fraudulent purchases.
• Authorised fraud: With authorised fraud, the victim is tricked into sending money to the scammer. They might believe they’re sending money to their bank or are investing in a genuine opportunity.

Falling victim to a scam could harm your financial security. The long-term effects often go beyond finances too. Some victims may find the fraud has an emotional impact, such as affecting their confidence or ability to trust people.

Here are five common scams you should be aware of.

1. Phishing and smishing

Every day, you likely receive dozens of emails. You might quickly scan them before clicking on a link or downloading an attachment – something scammers seek to exploit through phishing scams.

With this type of scam, fraudsters send messages that appear to be from genuine organisations, such as a bank or retailer, to obtain your personal details or download a virus onto your computer.

Smishing works in a similar way but happens via a text message.

Before you click a link or download an attachment, consider whether it’s a communication you were expecting and check who has sent it. If you’ve accidentally clicked on a phishing or smishing link, changing your login details or freezing your accounts as soon as you realise could prevent criminals from accessing your assets.

2. Investment scams

Investment scams can take many forms, from fake social media adverts to a phone call that appears to relate to a genuine investment opportunity.

According to figures from the City of London Police (7 April 2026), victims of investment fraud collectively lost £879.8 million in 2025 – the equivalent of £2.4 million a day. Criminals reportedly exploited economic uncertainty, unstable markets, and highly convincing online platforms to dupe their victims.

Sometimes fraudsters will deliver a return on your initial “investment” to tempt you to hand over larger sums.

If you’re contacted out of the blue about an investment, this should act as a warning bell. In addition, remember that it’s impossible to guarantee returns, and if the opportunity seems too good to be true, it probably is.

3. Pension scams

Pensions are often among the largest assets people own, and the rules around them can be confusing. Indeed, a survey carried out by the Money and Pensions Service (5 November 2025) found that 22.5 million UK adults do not understand enough about their pensions to make decisions about retirement.

As a result, pensions are attractive to fraudsters. By posing as a financial professional, they may convince people to hand over significant amounts that they’ve set aside for their retirement.

Pension scammers might offer a free pension review, claim they could help you secure higher investment returns, or suggest they could help you access your pension sooner to fund an early retirement.

Again, you should be cautious if you’re contacted out of the blue. Your financial planner could help you better understand your pension, making it easier to recognise bogus opportunities.

4. Romance fraud

The number of reported romance fraud cases has risen sharply. More than 10,700 cases were reported to Report Fraud (5 May 2026) in 2025, a rise of 29% when compared to the previous year. The average victim lost £9,500. In severe cases, individuals reported losing up to £1 million.

Often using online platforms to make initial contact, fraudsters will build a fake relationship before asking for money. As this type of scam often lasts months or years, victims may come to trust the fraudster and develop a genuine emotional connection with them. The scammer may further manipulate emotions by claiming the money is needed to cover medical expenses, support their family, or pay for plane tickets so they can meet in person.

The nature of this type of fraud often means it has devastating emotional consequences for victims as well as a financial impact.

5. Vishing

Finally, vishing is when a scammer phones you and pretends to be from your bank, building society, or government organisation. By gaining your trust, they may convince you to share personal details or transfer money.

Technology is making it easier for criminals to carry out convincing vishing scams. For example, number spoofing could make the caller ID appear genuine.

If you weren’t expecting a call or something sets your alarm bells ringing, hang up. Use official websites to verify the contact details, then get in touch directly. A genuine professional will understand why you’re being cautious.

The Financial Conduct Authority maintains the Financial Services Register, which includes the contact details of authorised firms that you can use.

We could help you identify signs of a scam

Sometimes, a second pair of eyes can highlight a warning sign of a scam that you’d previously overlooked. If you receive financial communications that you’re unsure about, we’re here to help you.

Next month, read our blog to discover the essential tips that could help you avoid falling victim to a scam.

Please note: This article is for general information only and does not constitute advice. The information is aimed at individuals only.

All information is correct at the time of writing and is subject to change in the future.