A client once remarked that it would be good if we had a crystal ball for their finances. A good point well made, so we went and bought one from Amazon, which still sits on a windowsill in the office. It looks good but has never proved to be entirely reliable. Cashflow forecasting, on the
The pandemic has been a very difficult time for everyone, and one of the fallouts is going to be an increased divorce rate as many people re-evaluate their lives. Even Bill Gates, once the world’s richest man, said that he and his wife Melinda were not going to be able to grow old together. Indeed,
Lasting Powers of Attorney (LPAs) allow you to appoint an individual to act as your legal representative in the event of declining mental health or injury. Whilst LPAs are vitally important documents and critical to your financial planning, it is estimated that less than 1% of the British public have one. In contrast, 40% of
An exit strategy is something that every owner of a small business looks for. Even a one-person business still needs an exit strategy. The main questions that need to be answered are; how are you going to get your money out of the business and how much money are you going to get? Having an
Entrepreneur noun 1. a person who sets up a business or businesses, taking on financial risks in the hope of profit. As George W Bush once allegedly said when discussing the decline of the French economy. “The problem with the French is that they don’t have a word for entrepreneur.” No one gets to the
There are likely to be many long-term changes as a result of the current pandemic. Many people will be taking a long, hard look at their pre-COVID existences and starting to consider what is really important in life. The idea of selling the family business and sailing off into the sunset might well be a
On average, in retirement, most households spend around £2,110 per month. Many people overestimate how much they will need in retirement by assuming they will spend the same as they currently earn. This is because they fail to appreciate the reduction in expenses that comes as you get older. The mortgage is often nearly paid,
Finances play a critical role in life throughout. Many decisions are dictated by the state of our finances, so having good financial planning is one of the most effective tools in achieving the life that you truly want. As we go through life our lifestyles and priorities shift and so do our financial planning requirements.
By the time you get to your 30’s, you are probably starting to realise where your career is going, and how things are going to pan out from a financial point of view. It’s a time where your parent’s words that you would never have as much money as you had in your 20’s suddenly has
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