ICR191: Key assumptions to make in your Financial Plan

Assumptions are at the very heart of financial planning as they provide the foundations for a robust plan.

Because financial planning is more of an art than a science, it is important to make a number of assumptions about what might happen in the future.

In this episode of the podcast, I'm talking about some of the key assumptions you need to make in your financial plan.

Personal finance news update

-Two reports for the government have recommended people wait longer before receiving their state pension.

-Higher prices for fuel and food have pushed price inflation to its highest since September 2013. 

-The typical property in England and Wales now costs more than seven times the average earnings of employees. 

-The proportion of women continuing to work into their 70s has doubled in the past four years, nearly reaching the same level as men doing the same.

-New analysis by Royal London shows that the typical person entering residential care will face total bills of between £50,000 and £93,000, depending on where they live.

Get answers to your personal finance questions

Do you have a personal finance or investing question for Martin?

Email martin@icfp.co.uk or ask on Twitter @martinbamford.

You can call our dedicated podcast voicemail line on 020 8144 2745 with your question or visit www.icradio.co.uk/voicemail to leave an online voice message.