Just under half (47%) of homeowners over the age of 55 plan to downsize to smaller homes later in life, according to research from Prudential. With almost four million people looking to trade their current home for a more manageable space, it is perhaps surprising that less than one third (28%) are motivated by financial gain. In fact, the main reason, given by 74% of people is the convenience of running a smaller home. (Source: Prudential) Let’s focus on the 28% though, who believe that their house is the key to a financially secure retirement, as well as anybody in their 30s, 40s and 50s right now, who look forward to cashing in on their property in later life. Unfortunately,... Read More

Think carefully. How you answer will say a lot about you. Of course, some of you reading this won’t know. Others will be too embarrassed to say… But, it’s time for some transparency and openness. Otherwise, how will you know when you will achieve financial independence? Yes, that’s right, financial independence. What did you think I was talking about? Let me explain more The number we are referring to is the amount of money you need to be financially independent and free. Free from the 9-5 (if only it was that, when was the last time you only worked a 40-hour week and took your allocated hour each lunchtime?) Free from debt Free from financial anxiety Free to do what... Read More

What can a man born nearly 90 years ago in Omaha teach us about investing in 2017? Well, if his name happens to be Warren Buffett and he’s worth nearly $80 billion, quite a lot! Buffett is variously a business owner, investor and philanthropist; having given over $30 billion to charitable causes. He’s a famously successful investor; here’s six things we could learn from him 1. Invest for the long-term (part one): “If you aren’t thinking about owning a stock for 10 years, don’t even think about owning it for 10 minutes.” You are probably as likely to make a loss as you are a gain in the short-term. Investing should be seen as a long-term pursuit, of at least... Read More

Finding the right financial planner means asking lots of questions. The more information you can gather before making your decision, the more confident you will feel in creating a life-long relationship with that planner and their firm. This week, I will be focusing on the top questions you should ask a financial planner, to make sure that they are qualified, experienced and capable of dealing with your own situation. 1. “Are you authorised and regulated by the Financial Conduct Authority (FCA), with suitable PI insurance in place?” If the answer to both questions isn’t: “Yes and yes” you should simply walk away. Never take financial advice from anyone who isn’t FCA regulated and PI insurance is vitally important if something... Read More

It’s not unusual for people to change jobs 10 to 15 times in their career. That’s far more than most people move house, and we all know how stressful that can be. Changing jobs is often a natural way to progress throughout your career, but the upheaval it can cause to your personal finances is often overlooked. Experience tells me that we often spend too much time concentrating on negotiating the new package, and forget to think about the wider implications of the move. So, here are my top tips for keeping your personal finances on track when you move jobs. 1. Get the package right Salary, bonus, share options, pension contribution, car, healthcare, I could go on. You will... Read More