Path through 2016

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First, you need to be keenly aware that the econ­omy is likely to dip in the year ahead. Job losses might oc­cur and wage in­creases are un­likely to beat in­fla­tion. Dave Mohr, chief in­vest­ment strate­gist at Old Mu­tual Wealth, says in the face of such an out­look, you should bud­get care­fully, cut out un­nec­es­sary spend­ing and look at post­pon­ing big-ticket pur­chases.

“It would be wise to build up an emer­gency fund for un­fore­seen ex­pen­di­tures and po­ten­tial loss of in­come. Con­sumers must also bud­get to keep up with pol­icy pay­ments and con­tinue with sav­ings plans. The long-term costs of fail­ing to do so will be se­vere,” he warns.

Ris­ing in­ter­est rates

To go off­shore, or not

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