Growing plants and flowers in your garden takes time, effort, and some horticultural love.

In the same way, growing your savings and investments becomes far easier when you pay them regular attention.

Gaining a deeper understanding of where and how your wealth is saved, invested, and distributed will help you feel more in control.

Ultimately, regular reviews and action where necessary are the best pathway to achieving your financial goals in retirement and later life.

This doesn’t have to mean hours of in-depth analysis and constant tracking. Just like with your garden, a little maintenance and TLC can go a long way.

Keeping a close eye on your savings and investments can help to generate better returns

Going back to basics with your financial planning every now and then can be a good idea.

Whether that’s as part of your regular review with Intelligent Pensions, or through your own frequent check-ins, it’s always wise to know what’s going on with your wealth.

While your savings and investments can tick along quite nicely for a time, leaving them to their own devices for too long could mean you’re not seeing maximum returns.

Here are four ways you can pay some attention to your wealth, making sure it’s working as hard as possible for you.

1. Revisit your goals

Financial strategy and planning are always most constructive when they’re undertaken with your goals in mind.

These are highly individual, but could include:

  • Spending more time with friends and family
  • Pursuing hobbies and passions
  • Your dream retirement
  • Buying a second property
  • Travelling more.

Over time, however, you might change your priorities, which in turn could mean rethinking some of your savings and investments.

For example, if you decide to retire earlier, will your projected pension pot suffice, or do you need to boost your contributions?

In this scenario, shifting your attention away from cash savings and towards your pension investments would be sensible.

2. Review your existing savings and investment accounts

Making sure your wealth is working hard doesn’t need to take long, but it can reap rewards. In some cases, it could be that you’re not using the most tax-effective methods to save your wealth.

If you have cash savings, for example, you’ll be taxed on any interest over a certain level, with some caveats and exemptions. Your Personal Savings Allowance (PSA) is the amount you can earn in tax-free interest and is determined by your tax band.

  • Basic-rate taxpayers can earn up to £1,000
  • Higher-rate taxpayers can earn up to £500
  • Additional-rate taxpayers do not have a PSA.

So, consider if your savings could work harder in a Cash ISA, which offers tax-free interest. You can invest up to £20,000 a year across all your ISAs, including Cash ISAs.

Understanding your investment performance can also help to make sure you’re not in for any big shocks or surprises.

Check that you’re happy with the returns you’re receiving on your investments, and if not, whether this could be linked to your attitude to risk.

Your risk tolerance may have changed since you initially developed your portfolio.

According to Forbes, risk tolerance peaks around the age of 55, with older investors tending to adopt a more conservative stance.

Even if your own attitude doesn’t follow this pattern, pausing to consider whether your portfolio is still aligned to your approach will ensure that you’re not being overly reckless or cautious.

3. Consider a shift from saving to investing

While moving your savings into a Cash ISA can be beneficial, there’s also an argument for shifting away from cash and into investments.

According to MoneyWeek, savers moved more money into Stocks and Shares ISAs in the first six months of 2025 than in the whole of 2024.

Falling interest rates have made cash savings less appealing and a shift towards investment more enticing.

Inflation is always an important factor here, too. While you will get back what you put into your cash savings, rising inflation rates may mean that your purchasing power is diminished, as your cash will essentially be worth less in real terms.

4. Include cash savings for specific reasons

Conversely, many savers still enjoy the traditional comfort of cash savings. You may want to keep a cash savings account for its easy-access benefits – not usually available with longer-term investments – or to use as an emergency fund for expenses like house maintenance and car repairs.

Some savers also like to use cash savings as a way to build funds for a particular purchase, like a holiday or a car.

If you want to find out how to make your cash work smarter and harder, visit our IP CashHub for a hassle-free way to maximise returns and reduce risk.

Get in touch

We would always recommend you have an annual review with us to reflect any changing circumstances and to keep your financial plans on track. If you’d like to talk to us at any other point, however, we’ll always be happy to help. Email hello@intelligentpensions.com or call 0800 077 8807.

Please note

This article is for general information only and does not constitute advice. The information is aimed at retail clients only.

All information is correct at the time of writing and is subject to change in the future.

The value of your investments (and any income from them) can go down as well as up, and you may not get back the full amount you invested. Past performance is not a reliable indicator of future performance.

Investments should be considered over the longer term and should fit in with your overall attitude to risk and financial circumstances.

The Financial Conduct Authority does not regulate tax planning.