However, at some point something will happen which will stop you working. Hopefully, it will be your retirement and your pension plans will allow you to spend your golden years doing the things you’ve always wanted to do…

Unfortunately, for a significant number of people, ill health will strike before retirement and inevitably some of us will not get to pensionable age.

It is so easy to put your head in the sand and try not to think about life’s downs such as critical illness or death, but it is important that you plan to ensure that your finances are secure if the worst should happen.

Personal circumstances are always changing; you may have bought a bigger house, had children or just generally have more financial commitments. Here are some good examples which highlight why it is important to protect both yourself and your family no matter what stage you are in life.

A 40-year old earning £20,000 per annum will have earned £400,000 if they work until 60. If they were unable to work due to an accident or illness, or if they died prematurely, where would their family find the £400,000 to be able to maintain the standard of life they have grown accustomed to?

Many people just have their mortgage protected, but this may not be sufficient.

A newspaper article I read stated that it costs over £10,000 to put one child through state school. If you have children, what measures have you put in place to keep their future secure and ensure they have the daily essentials if the worst happened to you?

People with older children need to consider the increased expenditure due to a larger house, increased debts or further education.

If this is you, consider what would happen if you became critically ill and had to stop work, possibly permanently. How would you pay the bills? If the worst should happen and you or your partner died, how would the survivor maintain their same standard of living?

The right protection plan could also be used to help plan for an inheritance tax bill to ensure your family is not left with any of your financial commitments.

There are a whole range of protection plans to look after you and your family, and it’s important to choose the right cover to reduce the impact of life’s uncertainties.

With over 64,000 cash machines in the UK, it is not surprising that fraudsters regularly target them in an attempt to defraud you. Overall cash machine fraud increased by 256% in 2011, with over 10,000 individual incidents reported in the past 12 months. The good news is that there are simple steps you can take to protect yourself and your money.

Despite a quarter on quarter rise in income and savings, the UK’s over-55s are now significantly poorer than they were 12 months ago, reveals Aviva’s latest Real Retirement Report. The report demonstrates the financial pressures faced by the UK’s three ages of retirement (55-64, 65-74, and 75 or over).

The arrival of a new year steers many to consider moving home, particularly if any personal circumstances are driving such an important decision.

What will the New Year have in store for us? Perhaps for some things it’s best not to know in advance, but at the start of this Olympic year your thoughts may well be turning to moving home. Even though it is still early January, the housing market appears to be fairly active and there are some good mortgage deals available.