Although I’m happy to try my hand at the occasional straightforward DIY job around the house, when it comes to anything costly or complicated, I’m a firm believer in getting an expert in to do it. Likewise, when my car was recently due for its annual service, I suppose I could have had a go at doing the job myself. However, it would have taken at least a weekend, when my time could have been better spent doing something I’m actually good at or enjoy. The service wasn’t cheap, but I had the comfort of knowing professionals had done it and, if there were any problems, I could take it back in and get them fixed. If you’re anything like... Read More

I was struck by a comment made by a fellow financial planner at an event I attended recently. She expressed the view that, regardless of your wealth, it’s remarkably easy to run out of money. She then cited an example of someone – not a client – who was a high net worth individual with a substantial salary, who had ended up with next to nothing because of a series of mis-steps and a failure to plan effectively. In this article, read about four of the most common ways that individuals run out of money, and a very straightforward step you can take to reduce the likelihood of that happening to you. 1. Only living for the moment It’s far... Read More

During my time as an adviser, I’ve noticed a regrettable tendency for financial issues to be overcomplicated. Articles in the national and trade press seem to take great delight in using the type of baffling language only properly understood by financial professionals. To my mind, simplicity always beats complexity when it comes to most aspects of financial planning. Complex explanations are usually unnecessary One key issue is that many in the industry try to overcomplicate and create complexity where it isn’t needed. This is particularly the case in the investment sector, but it can also be prevalent when it comes to taxation and pension arrangements. More often than not it will simply lead to people like yourself being confused, and... Read More

In last month’s newsletter you read about the four crucial questions you need to answer before designing your financial plan. However, there is one overriding question, which epitomises financial advice and planning for your financial future. This is often the elephant in the room and it’s what all of us really want to know. It will sit there as a subconscious feeling, whilst all the other questions you might typically ask are a means to “the end” – how should I invest my savings? Should I review my pensions? These are all the ‘means’. The question is this… Are we going to be OK? The front page of one of the tabloids caught my eye in the newsagents recently. They... Read More

Against the backdrop of the continuing war in Ukraine, the chancellor has delivered his spring statement. The war has contributed to uncertainty in the global economy, with the Office for Budget Responsibility (OBR) saying that, “given the unfolding situation in Ukraine, there is unusually high uncertainty around the outlook”. Disruptions in global supply chains and the Ukraine war have led the OBR to revise downwards their forecast for growth over the next five years. The OBR now forecasts GDP to rise by 3.8% in 2022, down from its 6% growth forecast in last October’s economic and fiscal outlook. The OBR then forecasts growth of 1.8% in 2023, 2.1% in 2024, 1.8% in 2025, and 1.7% in 2026. Another current factor... Read More