As many of you will have heard on the news recently, 36% of people would see their cash run out within 11 days if they could not work, because they have less than £500 in savings and to make matters worse, 9 out of 10 people have no form of income protection insurance to cover their bills if they were unable to work or lost their job.

In recent years, homeowners have relied on the equity in their homes and remortgaging as an additional source of income, and 5% of people said they would sell their home to release the money!

Less affordable mortgages and the slowdown in the housing market would make it difficult to do this as these days properties remain on the market for longer.

Finances for many are finely balanced due to the rising cost of living and both state benefits and savings are not viable options for the majority of consumers to rely upon for any length of time.

If this or any other matter concerns you, then please contact Kirk Ella Investments for a review of your financial protection arrangements.

Shane.