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Building and protecting your wealth

What Should Be Top Priority for Your Finances in 2020 (From the Experts at DMFS)

Every financial decision you make now has an impact on your financial health in the future. Don’t leave financial planning to the last minute – be prepared to hit the ground running in 2020 with these top tips from our experts to help you achieve your goals next year.

This does not constitute advice and advice should be sought in all instances before acting on it.

We asked our financial experts, Darren Scott-Guinness and Chris Spurgeon, what they think should be your top priorities when planning your finances for 2020.

With their wealth of knowledge and experience in supporting dental and medical professionals through financial planning, they’ve put together their list of considerations.

Thoroughly review your 2019 finances:

Take an honest and in-depth look at your finances to establish what went well this year. Learn from any mistakes you made this year and create a plan that puts contingencies in place to prevent the same mistakes from repeating themselves.

Move onwards and upwards from any negative results this year. Likewise, work out how you can capitalise on your positive outcomes.

Realign your goals:

Look at each of your goals and establish whether you met them, or where you missed targets, work out if they were actually unobtainable from the outset.

Re-set your goals for 2020 based on what you know you can feasibly achieve, but also give yourself a bit of a challenge to improve on next year.

Setting smart goals isn’t as hard as it sounds. It is about setting goals that really mean something to you – such as saving for a family holiday or setting a specific target for your pension pot.

Consider investing your spare money:

Calculate how much money you have spare at the end of each month and consider investing instead of wasting money on the unnecessary.

If investment options baffle you, then why not work with an IFA who can help you to decide the best way to maximise returns on your finances to meet your 2020 financial goals. Financial planning is vital to both your professional and personal success.

What our clients say

“I am a cynic when it comes to investment advisers after having a bad experience with all of them. However, Darren has proven to be an exception. He has actually managed help grow my SIPP beyond my expectations. He is very knowledgeable and has been exceptionally good at offering financial advice on all fronts.”

Murali Bhat, Consultant Orthopaedic Surgeon at East Surrey Hospital

Protect the wealth you have:

Is your income and wealth protected if chaos were to rear its ugly head? It might not be on the top of your to-do list, but it should be one of your main priorities for 2020.

Protecting the life you and your family have become accustomed to can save you a huge amount of stress and upset if you suddenly lost your income or became critically ill. There are numerous insurance providers out there so make sure you work with an expert IFA to help you choose the best insurance plans for you and your current lifestyle.

What our clients say

“I set up an Income Protection Policy with Dental and Medical Financial Services help. They first looked at my overall situation and provided me with all the advice I required. I felt listened to and was kept informed about the progress.”

Dr Nuzhath Consultant Psychiatrist MBBS, MRCPsych.

Review your biggest monthly expense:

Your mortgage is likely one of the most important expenses you make each month.

Taking the time to review it every few years can save you hundreds, maybe thousands a year. While mortgage rates are low, now is the best time to assess the mortgage you have and search for a better deal.

Work with our experts to help you plan for 2020

At Dental and Medical we take great pride in the knowledge and experience we have built over the years, enabling us to help you find the best deals, investments and life securities for you.

If you find Financial Planning hard work, let us take the stress away and guide you to the best choices for you, your family and your practice.

Let our experienced team help you in 2020
Mortgages | Investments | Financial Planning | Retirement | Tax Planning | Protection |

Dental & Medical Financial Services have been helping doctors and dentists to build and protect their wealth, whilst saving tax for over 25 years.

Call our experts to discuss your options.

Tel: 01403 780 770

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Dental and Medical Financial Services is an appointed representative of Best Practice IFA Group Limited, which is authorised and regulated by the Financial Conduct Authority. Company registered in England no. 9158580 Registered office: 1 Market Square, Horsham, West Sussex, RH12 1EU

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