The Rugby World Cup is well on its way and reaching fever pitch as we soon go into the all-too-important quarterfinals. These are the games that start deciding which of the big guns will progress to have a possible final shot. It is also a time when many people who have placed bets on the results will lose their money!

Most people place small bets and providing its money you can afford to lose it’s all harmless entertainment to maintain an interest in more of the games. Some, on the other hand, are placing some substantial bets and sadly will lose money that they can’t afford to part with. Obviously, these people should never be gambling at all, and we thought it may be interesting to look at what you should never gamble on when it comes to finance!

Risk is essential.

Gambling and risk are not quite the same thing. Gambling is avoidable but some element of risk is necessary if one ever expects to build wealth. It is almost impossible to get ahead in life without taking some risks in our jobs, the investments we make and even the partners we choose in business and life.

The difference is that there are certain ways we can reduce that risk so much that it is no longer something we are ‘gambling’ on – and what are these?

Death and taxes

Yes, it’s been said a million times – the things you can’t change or avoid in life are death and taxes, but you don’t have to gamble on them either! Rather than trying to deny the taxman what is due to him speak to a good Financial Advisor about the many ways you can take advantage of the tax allowances that the Government grants. These include tax-free savings, and probably the most astute investment of all – Retirement Annuities, which is a retirement vehicle that will save you plenty in taxes too.

Don’t gamble on your family’s well-being after you are gone either. Death is inevitable but with a Will, a good Life insurance policy in place and some structured Estate planning you can leave a legacy to be proud of, and have peace of mind too.

Critical illness and income protection

Something we can never gamble on is that we will always be healthy and accident-free, so once again we need to greatly reduce the risk of the kind of financial impact that something like this can have on us and our families. Critical illness cover and income protection not only cover the costs of such calamities but also ensure that whatever wealth we have created to this point is not totally eroded.

Choose the right professional help

Another thing you don’t need to gamble on is who you choose to partner with you in your wealth creation journey. Hereford Group has built a solid reputation and a loyal customer base in the past 30 years because we understand that every individual and business is unique and has specialist needs.

Talk to one of our highly trained, expert Financial Advisors about your circumstances and financial aspirations today – and let us ensure that you need never gamble when it comes to finance!

Oh, and whether you’re a betting man or woman or not – Go Bokke!