Over the past couple of months, we have received lots of questions about the impact of coronavirus. In particular, we had a number of retired clients get in touch to ask what they should do about their pension and investment withdrawals.
They wanted to know whether the flexible income from their investments and pensions should stay the same, reduce or stop altogether. This is what MD, Rebecca Aldridge, had to say:
As financial advisors, we believe that any good financial plan should include contingency planning. At any one time, we recommend that you have between 3-6 months worth of income set aside as an emergency fund. This is to ensure that when the unexpected happens, you have a comfortable financial cushion to protect yourself and your money.