The Money Advantage Blog - The Money Advantage

Nov

2022

Why now is a good time to be alive

23 Nov 2022

Financial planning is all about looking forward rather than back. For example, one of the big financial risk warnings is based around past investment performance being no guide to the future. But at times like this, when the economic news is woeful, it can be salutary to stop and look back to see how far we’ve come. Living, as we do, in a time of 24-hour news and instant social media assessment, there’s always a danger of just seeing things in the here and now rather than in a wider context. So, as an antidote to the doom and gloom bombarding you right now, read on to see things in a more historical context, and discover why the present day...

Nov

2022

The danger of retiring too early

Adam Rideout

Blog

18 Nov 2022

It’s likely that you’ve read articles outlining the steps you need to take to be able to retire early. On the face of it, it’s an appealing proposition. If you’ve always had a target date in mind when you intend to stop work totally, deciding to aim for a date prior to that, and to reduce the time you’re in work, can have its attractions. By way of balance, however, read on to discover why early retirement may not be right for you and why it’s possible for you to retire too early. Ask yourself why you want to retire early One often-cited reason for wanting to retire is not enjoying your current job. It’s an understandable reaction. Work can...

Nov

2022

Your autumn statement update and what it means for you

Adam Rideout

Blog

17 Nov 2022

It has been a tumultuous year in British politics, with three prime ministers and four chancellors holding office. After the calamitous “mini-Budget” ushered in the demise of Liz Truss and Kwasi Kwarteng, new chancellor Jeremy Hunt has delivered his first autumn statement. Hunt’s speech came at a tricky time for the UK economy, with inflation at a 41-year high and the Bank of England (BoE) reporting that the economy is expected to be in a recession for a prolonged period. Hunt said his plan was designed to “strengthen our public finances, bring down inflation and protect jobs”. Here are the key points of the autumn statement, and what they might mean for you. A reduction in tax-free allowances and exemptions...

Oct

2022

Why evaluating your wealth is about more than just money

Adam Rideout

Blog

24 Oct 2022

In a recent article you read about how the drive to accumulate financial wealth can sometimes become all-consuming. This can create an outcome where you are overly focused on the next acquisition, rather than seeing the wider picture. I described this as constantly moving your own goalposts and never being entirely happy, regardless of your financial wealth. In this article, I want to drill down a bit further into the whole concept of “wealth” and explain to you why I believe there are different ways of measuring how wealthy you are. Wealth doesn’t always mean money If you’re asked what “wealth” means, it’s likely your definition will include reference to money. But to my mind it’s about more than that....

Oct

2022

Why it’s important for me to do as I say

Adam Rideout

Blog

24 Oct 2022

One question I’m often asked in discussions I have with clients is “have you done this yourself?” Usually this is in relation to a specific piece of advice I’m offering, but occasionally I’ll be questioned about my wider financial planning process. A similar thought may have crossed your mind when reading previous newsletters and articles I’ve written – all of which contain tips and guidance. It’s a very fair challenge that always deserves a response. I believe it is only right that I lead by example and follow the same advice that I give to you. My wants and needs are the same as yours Because no two people are alike, everyone’s financial circumstances are different. Behind that truth, however,...

Sep

2022

A tale of 3 perceived threats to your future financial wellbeing

Adam Rideout

Blog

27 Sep 2022

Whenever you’re putting plans together for a future event, it’s always prudent to think of the potential impediments that could prevent your plan coming to fruition. Sometimes, however, it’s possible for you to overstate the danger of some threats, while at the same time underestimating the impact of potential problems that you should actually be more concerned about. A recent report from the Center for Retirement Research at Boston College, which I read about on the CNBC website, highlights this problem with perception when it comes to planning your financial future. The report correctly identifies three threats to your future financial health: Market volatility Rising inflation Increased longevity. It then goes on to say that many people overestimate the effect...