With stock markets down and high inflation and unemployment levels (an unlikely couple) weighing down on growth, it's never been more crucial to protect our personal assets. If you're lucky enough to have savings, there's nothing better than talking to a financial planner - a dependable and knowledgeable aid that can help you to achieve your long-term financial goals so you carefully select the right mortgage or savings account for you. As many companies actively help you plan for your retirement, there's no reason why you can't talk to an advisor to arrange a generous pension that you contribute to during your career. Whether you plan to take the first step onto the property ladder in the next couple of years, or even want to develop a plan to secure a successor for your business, the personalised service of financial advisors could be the safeguard of your wealth.

A planner can keep you updated on the best savings interest rates and accounts for your financial circumstances as the years go by, looking at your income and outgoings to determine how much money you can afford to put aside every month in a regular savings plan. You may find that there are high-return, low-risk investment funds that could grow your money far faster than an excellent fixed rate ISA in the market - even when tax on your dividends has been accounted for.

React to financial windfalls rationally to prosper in later life

Sometimes, prosperity can emerge from the most unlikely of circumstances. Perhaps you have come across a significant amount of money as part of your redundancy package, or the death of a relative has resulted in you inheriting some of their fortune. Whatever happens, investing the money that you don't need to use immediately could completely transform your later life. Some investment funds that financial planners recommend boast growth of 10 per cent per annum on your funds accumulatively. This means that an investment of $50,000 could grow by $80,000 over a decade, giving you a matured cash pot of $130,000.

However, as the annual returns you receive all depend on the risk you assume, you need to consider how happy you are to put your money on the line in a lump sum. Whereas opting for a fund with a six per cent return rate over 12 months has less risk of a loss, the returns you would receive upon maturity could be a quarter less than a fund with a 10 per cent return rate.

Indeed, you may find that a fund is unsuitable because of the duration of the commitment required. A five-year investment is highly unsuitable for parents who need to pay for their son's college tuition in two years' time.

Prepare for contingencies that could destroy your lifestyle

We can visit the doctor whenever we like but there's sadly no way we can guarantee good health. There are diseases and illnesses that can limit our ability to work and earn a living to keep a roof over our heads. With no income how can you continue to pay the mortgage, finance for the car or even put food on the table for the kids?

This is where income protection insurance comes in handy, with a small monthly premium that could guarantee up to three quarters of your usual gross salary for each month of your incapacity. With such peace of mind, you will no longer have the heart-breaking scenario of your kids missing out on a present that they had their heart set on for their birthday weighing on your mind.

Here are some other tips:

  • Try not to put all of the savings you have accumulated into investments that can't be easily liquidated. You should keep a proportion of your money in a current account or easy-access savings account to ensure that you are financially stable when emergencies do arise - such as the breakdown of your car or an unexpected household expense.
  • Don't make irrational decisions when making investments. The choices you make could alter your finances for the foreseeable future. If you think that you may need the money you are investing in the next five years, you should ensure that there is an exit strategy available so you don't incur considerable charges.
  • Explore all options before signing on the dotted line, and you may even consider comparing financial planning services. Whereas one firm may focus on business wills and succession planning, you may require experienced advisors that specialise in personal finance. Their expertise, and regular meetings so you can get to know and trust one another, empowers you with the opportunity to make the most of every penny you have saved.
  • Think very carefully about what your financial goals are in the next three years. When you have established how you want to proceed, consider whether or not your aspirations could also change, meaning that an investment suitable for you now loses favour in the months or years ahead.

Use education funds to hone the financial skills of your children

If you do use a financial planner to open an education fund for college or university tuition fees, getting your child (the beneficiary) involved can provide invaluable lessons about managing finances, and how to prepare for the future. In today's consumer society, it can be tempting to spend the money we earn straight away. However, letting your child see the savings that will pay for their future grow allows them to see how exhilarating and satisfying making a long-term investment can be.

This article has been a whistle-stop tour that shows how financial planners can help savers from all walks of life. No matter where you see yourself in a decade, their experience offers you the chance to maximise your wealth.