Have you ever wondered why some shops are laid out in the way they are? For example, think of your local garden centre. All the things you “want” will be near the entrance – barbeques, and garden chairs, together with cute stuff like ornamental garden gnomes. That’s the stuff to catch your eye and open your wallet. The things you actually “need” will be at the back. Lawnmowers and hedge trimmers – boring, utilitarian items that aren’t particularly exciting or eye-catching, but you can’t get by without them. When it comes to financial planning, human nature suggests you’ll focus on your “wants”. But sometimes the less exciting things are necessary, so read on to find out how working with a... Read More

We are constantly bombarded with investment advice. You only have to read the financial pages to see a whole series of investment information. The consumer “money” sections are always full of suggestions as to how you should invest your money. So, for balance, I thought I’d turn that on its head and put a list together for you of investment “don’ts”. Because, as with many activities, sometimes what you don’t do can be as equally important as what you do. Here are 10 big don’ts when it comes to managing your investments. 1. Don’t worry about other people Your investment strategy is all about you. After all, it’s your money and your future you’re investing for. So don’t worry about... Read More

Successful personal financial planning can often come down to self-awareness and being prepared to challenge yourself. Only you will have the detailed insight into your own finances, how you spend money, and what your financial priorities are. It’s therefore important to be honest with yourself so you can change any bad habits and give yourself the best possible chance of financial success and being able to live comfortably. Here are ten questions I think you should be able to answer. 1. Have you got a financial plan? If you don’t already have a financial plan in place, then putting one together should be one of your key priorities. A recent study by Aegon found that relatively few people had made... Read More

In one of my blog articles last month I looked at the issue of financial planning for your parents, and how you can help them manage their finances. In that article I referenced estate planning, and how effective planning can help protect both their assets and you. Given the breadth of the subject, I promised that I’d devote an entire article to it. So, here are the key things you need to know about estate planning for your parents. The importance of effective estate planning It’s certainly well worth the time and effort in ensuring your parent’s wealth is managed effectively, particularly from an estate planning perspective. In 2019/20, more than £5.2 billion was paid in Inheritance Tax (IHT). Although... Read More

In 1981 an American sociologist named Dorothy Miller coined the expression “sandwich generation”. This refers to the increasing number of people who are financially supporting – to some extent – their elderly parents as well as their own children. The increase in the size of the “sandwich generation” in the past forty years has been driven by several factors, including medical advances that have increased longevity, and couples having children later in life. In a previous article I looked at how financial planning can give your children the best start in life and to help secure their financial future. Now, it’s time to look at the other slice of bread in the “sandwich” – financial planning for your parents. If... Read More