The Interim
Build your career as a successful Interim, because for many people, it is the best job in the world. This podcast will equip you with knowledge and the mindset to excel whether it’s your first time or if you’re experienced and wanting to hear from fellow professionals and keep learning.
The Interim
Have a Financial Healthcheck for Interims - Dominic Brockes
Today, we talk about financial planning for Interims - how can we handle the fluctuating incomes and the risks that come with our independence. We are joined by a financial advisor who will give us a financial health check. He will guide us through how interims need to manage their finances, from budgeting to insurance, and offer invaluable practical advice.
Dominic Brockes has 26 years of financial services experience as an Adviser helping personal and corporate clients.
Dominic focuses on the unique financial requirements of being an Interim such as fluctuating income and the need for proactive financial planning and the lack of financial protections that our permanent colleagues often get without noticing from their employers. And so we need to make sure we’re doing the sensible things too.
He gives practical advice about budgeting, an emergency fund, investment strategies (regular savings and lump sums), and understanding salary vs. dividends.
Finally Dominic underlines the importance of protection. The discussion on insurance (life cover, income protection) is crucial and highlights an often-overlooked aspect of financial planning. Prioritize insurance (protection) before investing. This includes life insurance (to cover debt and provide income for family), income protection (in case of illness or injury), and potentially private medical insurance.
There is lots here to think about, hoping you all weigh it up and know what you need to do.