Is it a surprise that Millennials have been dubbed the “Burnout Generation”? And Gen-Zers don’t fare any better. An investigation carried out by The Guardian found that 79% worry about getting a job while 72% worry about debt. Hardly the foundations upon which dreams are built.

Right now, preparing for your future may seem like an impossible and daunting task. You may have lost confidence that you’ll ever be able to achieve your financial goals, like buying a house or saving for a comfortable retirement? But as the saying goes, ‘Mighty oaks from little acorns grow’. And the earlier you start, the bigger your oak will be.

Here are some tips to help create peace of mind in the face of uncertainty and keep you on track to achieve your goals and life aspirations.

If you’ve never thought about your finances in-depth or have a plan that just needs tweaking, there is no time like the present. It’s important to start thinking about what you want from life, how you would like to live, and whether you’re in a sound financial position to accommodate these goals moving forward.

If you already have a plan in place, it’s essential to be flexible and acknowledge that external factors may result in changes to your goals and aspirations. Be ready and willing to revisit your plan to ensure it adapts as you do.

During uncertain times it’s important to plan ahead and create a safety net for you and your family, just in case something goes wrong. Putting money aside for an emergency might seem like pushing a boulder up a mountain. With the cost of rent or a mortgage, rising household bills and outstanding debts, it can be tricky, so start with a modest goal and slowly build it up from there.

Ideally, you should save between three and six months’ worth of expenses so you have the confidence and peace of mind to know that you’re able to handle the unexpected.

With rising living costs and increasing job uncertainty, it is crucial to think about your retirement plan. Your finances need to be sufficient to sustain your lifestyle after you finish work. The earlier you start the better as this will give your money more time to work (and hopefully grow) for you.

Here are a few suggestions:

• Join your employer’s pension scheme. Not only is this tax-efficient, but you will also benefit from matched contributions
• Invest consistently in tax-advantaged plans such as ISAs or pensions, as this will help your savings go further
• Invest for the long-term. An investment period of at least ten years is usually enough to iron out any short-term market volatility.

Read our blog: Your pension is just the start

The ultimate uncertainty is death. No one expects to die early, but that, along with illness, disability and redundancy, are facts of life and can happen to any of us. The immediate effects can be devastating, but the emotional and financial consequences can last for many years. It’s very easy for a family living in relative comfort to be pushed into poverty.

Personal insurance protection should be a part of your financial plan. Life Cover provides a lump sum on death, Critical Illness pays out a lump sum on diagnosis of a serious illness, and Income Protection provides a regular income if you are unable to work due to long-term illness or disability. While insurance can’t cover every eventuality, it can help to provide security at a difficult time.

Read our blog: How to protect your family if things go wrong

When it comes to something as important as your finances and your loved ones’ livelihoods, you may want to speak to an expert. Making a financial plan can be overwhelming, especially when you add economic uncertainty to the mix.

Financial planners are there to help you develop a long-term personalised plan based on your circumstances, priorities, financial goals and assets. They are no strangers to uncertainty and know how best to avoid unnecessary risks and create a solid financial plan to put your mind at ease!

Contact Amber River today to talk to one of our dedicated and experienced financial planners. They can help you plan for your future and the life you want, even in unprecedented times.