Oury Clark Blog

With global interest rates standing at historically low levels, many clients have seen the interest payments received on savings accounts fall to negligible amounts. For those targeting an income yield from their savings it is always wise to shop around. The better interest rates are available for those willing to tie their money up for six to twelve months.

For those willing to consider an alternative to savings accounts the income yields on fixed interest investments are particularly attractive and may be suitable for part of the portfolio.

Global Stock Markets have experienced extreme volatility as the economic certainty continues. Investment performance in most asset classes has been disappointing in recent times, however, research has shown that trying to ‘time the market’ is extremely difficult and often fails. It’s ‘time in the market’ that is most important, and leads to longer term prosperity.

With household budgets under more pressure, it is important that you review all of your expenses to ensure that you are getting good value for money, and spending money on what is important to you. Review old policies to ensure they remain suitable for your current needs and that they remain competitive.

Making use of the tax reliefs available to you and ensuring that as much of your assets are sheltered from tax will become more and more important in the future. Make sure that all Income Tax relief is claimed on pension contributions, and make full use of Government tax credits and you annual ISA allowances.

During difficult periods, it is even more important to review your finances and check they are suitable for your ongoing needs. A lot of the work we do is to help spread the risk in financial planning, to ensure that not all of your eggs are in one basket!

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Tags: advice, commentry, investment

This entry was posted on Wednesday, June 10th, 2009 at 2:20 pm and is filed under Independent Financial Advice. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.