28
Oct
2020
0

When it comes to investing, all that glitters isn’t gold

In a crisis, people flock to safe assets. Volatility in the stock market in 2020 might have made you consider fleeing to the relative safety of cash (although I have already talked about why it’s important to keep calm during uncertain periods). Of course, putting your money in cash right now is also a risk. Although your capital may be secure, interest rates on savings products are at record lows, so there’s a strong chance your money won’t even keep up with inflation. According to Moneyfacts, the average interest rate on an easy access savings account in July 2020 was just 0.4%, whereas the rate of inflation was 1.5%. So, is there a safe asset from which you can generate...
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14
Oct
2020
0

Revealed: The UK’s top 5 regrets and what you can do about them

Whether it’s not travelling the world or not having that extra slice of cake, we all have a few regrets about opportunities that we didn’t take. I regularly meet clients that say: “if only I’d done this when I was younger!” Studies have found that Brits spend more than 110 hours a year worrying about their regrets, while 80% of us feel our lives would be better if we had taken more risks when we had the chance. In a recent survey, Brits identified their biggest regrets. Here are the top five, as well as a few tips so you can spend less time regretting your choices and more time doing something about them. 1. Not pursuing a better-paid job...
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28
Sep
2020
0

3 reasons getting your parents involved in financial planning is so important

While every client I meet is unique, many share the same financial concerns. Will I have enough to live on when I retire? Will my family be financially secure if something happens to me? Will I be able to leave a legacy to my children and grandchildren? Many clients are fully aware of this last point, and of the benefits of intergenerational planning. Including children in family financial planning can be hugely beneficial, as it can help to ensure that the right people in the family have the right assets, at the right time. Providing your children with money now to go to university and buy a home may be much more useful than leaving them a lump sum on...
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24
Sep
2020
0

Chancellor announces new Covid-19 economic support – everything you need to know

Back in July, Chancellor Rishi Sunak announced a second range of measures designed to protect the economy through the Covid-19 pandemic. His next update was scheduled to be the Autumn Statement in the coming weeks. However, given the newly imposed Covid-19 restrictions and economic uncertainty, the Budget has been cancelled. In a statement sent to the BBC, a spokesperson for the Treasury said: “As we heard this week, now is not the right time to outline long-term plans – people want to see us focused on the here and now. “So, we are confirming today that there will be no Budget this autumn.” Instead, on Thursday 24th September, the Chancellor unveiled his winter economy plan, setting out the next phase...
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17
Sep
2020
0

Why the stock market is not the economy

The UK is in its deepest recession on record. The US economy, as measured by real GDP, contracted at a record-breaking 32.9% pace in the last quarter. The Bank of England has warned that one million UK jobs could be lost before Christmas. And, the Brexit cliff-edge approaches with the UK inching closer to a ‘no-deal’ scenario by the week. These and dozens of economic measures suggest that, to put it euphemistically, the global economy could be better. And yet, earlier this month, President Donald Trump told reporters, “We have the strongest economy – performing economy – in the world.” His comments come after the Dow Jones Industrial Average and S&P 500 have risen by more than 50% since bottoming...
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21
Aug
2020
1

3 of the best (and quite interesting) approaches to budgeting

Budgeting is hardly the most exotic or exciting aspect of financial planning, but it is one of the most important. Whether you think it’s boring or not, budgeting is one of the key foundations on which we build a sound financial plan. So many new clients I meet have no clear idea of how much they spend now or plan to spend in the future. Until they see the numbers in black and white, they don’t have a clear perspective on where their money is going and where they could put it to better use. If you want to get a handle on what you’re spending, here are three interesting approaches that might work for you. 1. The 50/30/20 budget...
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