21
Feb
2024

6 simple activities that you don’t need to be a multi-millionaire to enjoy

Financial planning is very much about growing your wealth and ensuring you have a plan in place to secure your financial future. Of course, there will always be an element of your lifestyle of choice being dictated by your wealth. For example, extensive overseas travel, a large house, and an expensive car are not luxuries that everyone can afford. That’s why a key part of your financial plan will be your attitude to money in terms of how you think about it and how much you spend. I’ve written previously about why evaluating your wealth is more than just about money and how appreciating this can be a big contributory factor to your future wellbeing and happiness. But there are...
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21
Feb
2024

Why the idea of a secret investment door can be an expensive myth

There are many areas in life where a high level of wealth gets you through a secret door. Here, a new realm of possibility opens up to you with better options than you faced before. Think luxury travel packages, chartered planes, private security, home chefs, and private schools. If you’ve grown used to your path being eased in these ways, it’s perfectly understandable for you to then think that your high net worth should enable you to access a similar door, providing you with an expansion of options in investment products. After all, with the basics in place and more money to invest, doesn’t investing in something complex that can provide you with more diversification make sense? Read on to...
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25
Jan
2024

Why it’s so important for you to solve the right financial problems

The start of a new calendar year is often a prompt for you to look ahead to the coming 12 months, maybe with some resolutions thrown in for good measure. Resolutions are often made to address a specific problem. But when it comes to financial issues or factors that affect your wealth, it’s important to understand whether or not you are solving the right problem. That’s because solving the problem you first perceive could well actually be more harmful to your finances than doing nothing at all. It’s important to have an effective problem-solving methodology One important ability you should look to acquire, as it can really help you manage your finances, is to have a robust problem-solving process. This...
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24
Jan
2024

5 great quotes from Charlie Munger that can help guide your investment strategy

Back in 2017, I wrote an article featuring six things legendary US businessman and philanthropist Warren Buffett can teach us about investing. More recently, you may have read another article in which I explained why volatility is not something to fear, sharing some of Buffett’s key quotes on the specific issue of market fluctuation. It’s now time to turn our attention to Buffett’s lesser-known partner, Charlie Munger, who died on 28 November last year, close to his 100th birthday. As vice-chairman of Berkshire Hathaway, he was always perceived as Buffet’s right-hand man. However, when I describe him as “lesser-known”, that’s only in comparison to his partner, because he was no less successful and just as worth paying attention to. After...
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18
Dec
2023

Is there a good argument for “dying with zero”?

One key point I’ll often make when I meet with clients is the importance of enjoying your wealth.  Clearly, you have to be aware of the various financial priorities you might have  to ensure they are covered-off first, such as your retirement provision, your mortgage, and other household expenses. But, as the saying goes, “you can’t take it with you”, and while your legacy and what you leave to your beneficiaries will clearly matter, it’s important to live in the present, and enjoy the life experiences you’ve worked hard to achieve while you can. Ultimately you should see growing your wealth as a means to an end, rather than simply an end in itself.  These points were brought home to...
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18
Dec
2023

5 killer traits that could help you become a retirement super-saver!

Many individuals find it difficult to save money, either for a specific purpose such as retirement, or simply to grow their assets, because of their financial circumstances. Often this is down to having to balance conflicting priorities, and facing circumstances where saving money comes below other household costs in terms of necessity. According to Moneyfarm, we save an average of £105.43 each month. Quite understandably, this figure varies significantly depending on your income level.  A Finder report revealed that the average person in the UK has £17,773 in total savings, but half of people have less than £1,000. Furthermore, almost a quarter of people have no savings whatsoever.  Perhaps predictably, age can be a key factor in the amount you have...
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