Let’s be honest, the last 12 months have been tough. But it does now feel as though better times are on the horizon.
Over the last year, some of us may have actually benefitted from not going out, going on holiday or spending like we used to. As it’s meant more money saved, which could be put towards a brighter financial future.
It hasn’t been easy, has it?
The last 12 months have proved a tricky time for people with investments. The FTSE All Share fell by more than 30% between 20 February and 23 March 2020, as the world seemed to turn on its head.
But for investors who were able to stay calm, the rewards would follow. And what we’re seeing is a familiar story about the value of investing your money towards your long-term goals – and staying patient.
Behind every cloud
The pandemic definitely highlighted the risks of investing your money. But it also showed that, to achieve your long-term goals, it’s really important to take a long-term mindset. While past performance is not a guide to future returns and economic conditions experienced in the past may not be repeated in the future, history has shown that markets have recovered.
It’s something we’ve seen over the past 12 months. Since 24 March 2020 – the day we first went into lockdown – and up to the end of Friday 24 March 2021, the UK FTSE All Share market has gained 33%. There’s still a way to go before we can say the pandemic is behind us, but the market recovery has benefitted many people with investments.
These are people just like you.
Ultimately investing comes down to your long-term goals. What is it that you’d like to achieve with your money?
Perhaps there’s something big you’re saving for five or ten years down the line. Saving for the retirement you deserve, along with supporting loved ones. It could just be simply wanting to get more from the money you already have.
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Investing could be a successful way of achieving your goals.
Financial advice could help you
Our financial advice partner, Skipton Building Society are here to help you strengthen your financial plans. They could review your arrangements and provide personalised recommendations – setting you on the right path towards reaching your goals.
If you’ve been in a position to save more money over the past 12 months, it’s worth thinking about how you could put it to good use to support your future financial goals. Especially as the reopening of the UK, and return to normal life, could mean the next few years are a good opportunity to invest in a way that suits you. That’s providing you’re comfortable to accept the risks involved and are looking to invest for at least five years.
As interest rates remain low, there’s a limit to how much your money can grow in a savings account. And while there are no guarantees, investing could offer you the potential to achieve higher returns.
Lloyd Batey, Skipton Senior Financial Adviser explains, “We offer tailored advice suited to personal feelings to risk and reward. To give you the confidence of investing in a way that’s right for you.
“Speaking to us could help you find suitable options for your money. It won’t cost you to have an initial discussion with us, and to hear personalised recommendations. A charge will apply if you take up our advice."
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.
Call Skipton Building Society today for a no-obligation conversation to see if Financial Advice might be right for you on 0345 266 0979 or find out more here
There’s no pressure to act on Skipton’s advice – you’ll have the time you need to think about any recommendations made to you. It’s all part of their No Pressure Promise.
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.