The turn of a new year presents itself as a chance to go on a journey filled with new and exciting opportunities: a new job, a big lifestyle change, or even a chance to pick up a new hobby.


But have you ever thought about how it could be a great time to change the way you think about your finances and future plans too? A chance to look forward and concentrate on trying to create the best possible future for yourself.

It’s an opportunity to consider your long-term goals alongside your financial situation, something that’s really important – especially as a survey conducted by Wealthify in 2021 found that 69% of savers asked said they didn’t have any long-term savings goals.

But – if you include yourself in this category – is that really the case? Maybe it’s not that you don’t have any long-term goals to save for, it’s that you simply haven’t given too much thought to them yet.

For example, your retirement. It’s one of the biggest long-term financial goals you’ll plan for. Despite this, it can be easy to underestimate the need to save for such an important part of your life. Recent research by the Pension and Lifetime Savings Association has found a couple needs £49,700 a year for a comfortable retirement with more financial freedoms and some luxuries – and that could be for a period of around 20-30 years.

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It’s not just about retirement either, there are lots of things that could shape your long-term goals. A short planning exercise can help you to make a good start on thinking about what you’d like to achieve.

Time to get planning

  • First off, do you have an emergency fund in place? This is money available if you were to receive a financial surprise, to cover any one-off costs – like if the boiler needed replacing. Even if you don’t need to use it, having this back up can offer you valuable peace of mind.
    Next, it’s worth thinking about what you want to achieve over the next couple of years. A big family holiday or a new car, for example. Do you have plans in place to pay for these, and what is this money currently doing?
  • Finally, there is your longer-term outlook. Where do you see yourself in five years’ time and beyond? It could be planning for your dream retirement; financial support for children or grandchildren; or that dream holiday home you’ve always wanted.
    Investing could help you to build up your wealth for the future and bring your goals to life. You’ll need to be comfortable taking some risk with your money and be prepared to invest for at least five years – but these are things an expert could help you navigate.

The next steps

  • Planning for your future requires proper consideration, skill and knowledge. To get off to a good start it’s important the next steps you take are in the right direction – that’s why we’ve teamed up with Skipton Building Society.
  • Skipton have offered a financial advice service for over 30 years, helping thousands of customers across the UK make personalised plans. And we’d like to help you too.
  • A Skipton financial adviser could help you to plan your finances in a way that suits your personal needs and that you’re comfortable with. They’ll take time to find out about you – from your current circumstances to what it is you’d like to achieve later down the line. This is all so they can build a financial roadmap that’s tailored to your needs.
  • Start your financial planning journey today by speaking to Skipton.

Call 0345 266 0979 for a free initial consultation. This friendly chat will help you find out if Skipton can help. Or please click and request a call back

Skipton’s recommendations are likely to include stock market-based investments. These are not like bank and building society savings accounts as your capital is at risk and you may get back less than you invested. The value of your investments and any income from them may fall as well as rise. With Skipton, you’ll need to have £20,000 to invest or reinvest, or be happy to invest £500 a month.


Radio Times financial advice service is provided by Skipton Building Society. Skipton is a member of the Building Societies Association, authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under registration number 153706 to accept deposits, advise on and arrange mortgages and provide Restricted financial advice. Principal office: The Bailey, Skipton, North Yorkshire BD23 1DN. If you take advice from Skipton Building Society, Radio Times will receive a fee for the introduction.