5 essential checks to make for the new tax year

In this episode of The Personal Investor Podcast, host Ed Monk and Fidelity's Gemma Slingo walk listeners through five essential financial checks to complete at the start of the new tax year. The episode emphasizes proactive financial planning, beginning with building and maintaining an emergency cash reserve of three to six months' worth of essential expenses in accessible, high-interest accounts. The second check focuses on pension visibility and consolidation, urging listeners to log into old pension accounts and use tools like Fidelity’s retirement calculator to assess retirement readiness. The third step involves reviewing and potentially increasing pension contributions—especially leveraging employer matching—and using the 'power of small amounts' calculator to illustrate long-term benefits. The fourth check encourages setting up automated regular savings plans within ISAs to invest consistently, avoiding emotional decision-making and benefiting from dollar-cost averaging. Finally, the episode stresses the importance of estate planning, including creating a will, completing an expression of wish form for pensions, and considering life insurance—particularly for those with mortgages or dependents. The tone is practical, encouraging, and reassuring, with a strong emphasis on small, consistent actions leading to long-term financial resilience.