Mirror, mirror, on the wall...

…who’s the daftest of them all?

What’s the biggest financial risk you face? Stockmarkets? Unscrupulous advisers? Dodgy “alternative” investments? Interest rates? Inflation? Yourself?

All too often risk is misrepresented to be the amount by which investments go up and down. This is wrong headed, unhelpful and downright dangerous.

Real financial risks, things you should be really concerned about, include:

1. Not knowing what you are doing;
2. Not saving enough to retire with dignity;
3. Dying and leaving a dependent family;
4. Being seriously ill and not being able to support your family;
5. Losing your independence;
6. Running out of money.

Not dealing effectively with these mega issues is what is most likely to you and your family to the bread line.