Will I be laughed at for going to a financial advisor?

[Gutebu]

I have 70k savings which I try and add to all the time. I am wondering what’s best to do with it and wanted some financial advice but when I go on the websites it’s ’wealth management’… I don’t think I am wealthy so would this be an embarrassing move or a pointless one to try and get advice?

You won't be laughed at, it may take a few phone calls and explanations of your circumstances to find the right person.
Try a couple locally, even ask for recommendations on Martin Lewis forum or similar. (that way you can be reasonably anonymous)

I had a really lovely financial advisor to sort out my small personal pension. He did a good job, took all the stress out if it and never made me feel rubbish. So I say yes.

Absolutely you won’t be laughed at, financial advisors deal with people in all sorts of circumstances. It’s not just about how much you have in savings but things like your pensions, mortgage, your goals and whether anyone is financially dependent on you.
My partner had a couple of hours financial advice from my own IFA a few years ago. It cost maybe £300 but he describes it as one of the best investments he ever made. Incidentally he had no savings and a fairly big mortgage at the time.

Just make sure to use an Independent financial advisor (IFA)

You won't be laughed at.

Financial advice is for everyone - it's more about making your money work best for you than focusing on millionaires only.

They will most likely cover:

• personal situation, married, children, other dependents
• Your current situation and what you have in place
• Pension - do you have one with work etc?
• Life cover/sickness benefit etc - do you have it, do you need it/what happens if you can't work etc
• Existing debt
• Existing savings
• Your short/medium and long term goals

Please go! You won’t be laughed at. You are at a really good point to make plans and decisions with your money.

I would also suggest to do some independent research about personal finance. It can be daunting to start but try some of the bigger forums to start learning (but be careful following random internet advice!). Stay away from Dave Ramsey. He has some spectacularly bad ideas.

Our FA is brilliant, sorted what was best for our pensions/ savings etc. We are comfortably off, retired and mortgage paid off years ago, but certainly not millionaires! We get a visit twice a year when he updates us on our investments, and any queries we have we can contact him anytime.

A bonus for us is that we received a letter from a former insurance firm that we had used years ago. It was (to us) gobbledygook, and could not make head of tail of it.
Normally I would file it, then chuck it out after a couple of years. FA was due for a visit do I asked him if he would have a look at it. Turns out we had been mis sold a policy years ago, and we were owed compensation of nearly £60,000!!!!!
Nowhere in the letter was any mention of mis sold policies, and if it hadn't been for our FA we would not have known. We bought him a very nice bottle of his favourite tipple!

It has been so worth it, sort a FA out sooner than later OP!

I was in a similar situation a while back do to receiving some inheritance. I'd definitely recommend seeking advice as I ended up with money sitting in an account which gained very little interest to be fair. It kept me up at night worrying about what to do too. I used financialadvisers.co.uk to find someone locally as I truly didn't know where to start.

Hope this helps!