24
Nov
2020

The perils of free advice and a DIY approach

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24 Nov 2020
Free advice rarely works. Here’s why. About ten years ago, I started open water swimming as part of my triathlon training. As I went on, I noticed I was struggling to improve. To attempt to better myself, I remember buying books and watching YouTube videos to try to pick up tips on improving my technique. However, despite my research, I still wasn’t improving. It wasn’t until I joined a club that I got an answer. The swim coach told me that my legs were sinking about five inches or so, and that this was creating drag. A simple head adjustment almost immediately corrected it, and suddenly it all felt a lot easier. Clearly, I had a blind spot when it...
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13
Nov
2020

5 reasons for optimism in 2021

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13 Nov 2020
Forty years ago, the great Ian Dury took his song Reasons To Be Cheerful to the top three in the UK charts. Back then, Dury cited an eclectic mix of things we should be thankful for, from cheddar cheese and pickle to the Bolshoi Ballet. In a world where political unrest, Covid-19, Brexit and more dominate the news, you might think you need better reasons than yellow socks or John Coltrane’s soprano to be hopeful about the future. But it’s worth remembering that even in tough times there are lots of, as Dury sang, reasons to be cheerful. 2020 has been a difficult year There’s no doubt that 2020 is a year none of us will forget. The coronavirus pandemic...
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28
Oct
2020

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

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28 Oct 2020
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

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

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14 Oct 2020
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

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

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28 Sep 2020
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

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

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24 Sep 2020
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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About Me

My name is Adam Rideout, I am a financial planner and partner at Foster Denovo. Based in the City, I help professionals achieve their financial goals.

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