I'm a chartered accountant, not a financial advisor. But I am aware many have been caught with poor advice or scams - a few suggestions:
- be clear what you want or need - income, or low risk. They are often mutually exclusive
- bear in mind you may need to live with decisions made now for 20-30 years
- if it sounds too good to be true, it probably is
- unless you are a very high earner of have masses of capital - KISS - keep it simple stupid
- be very wary of cashing in any final salary or similar schemes
- use any capital to pay off any expensive loans - eg: credit cards, overdrafts
- make sure you understand what happens if/when you die - widows pension, inheritance etc
You may feel you need advice - but make sure you fully understand the advice you are getting!
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