Protecting the wealth you have built up over time

Matt and Penny* were referred to us by their friends who had been clients of ours for some time. Matt and Penny had inherited a lump sum which was leading them to consider taking early retirement, but they had never previously carried out any formal financial planning.

In the initial discussions with us Matt and Penny also asked about the best way to take their pensions – a common concern – and how the inherited funds would play into this situation.

Matt and Penny shared the worries and questions of many people we speak to who are approaching retirement. They had worked all their lives and were about to enter a period where they would have access to quite a lot of wealth – deservedly so! They were anxious not to lose it and they also wanted to ensure their money wasn’t squandered or eroded by inflation. They were also concerned about undue taxation, given how hard they had worked to save.

We outlined our advice process to the couple and explained that their money could be held in low risk investments. We also talked through how their financial plan would see them receive their income from a variety of sources, in a tax efficient manner.

In view of all this, Matt and Penny decided they wanted to keep some cash for emergencies and invest the rest in a low risk plan. In doing so they were able to rest easy in the knowledge that their wealth would be protected, well managed and available to them throughout their retirement which suddenly seemed a lot closer!                     

                

*Not real names

Latest News

More than half of UK adults now seek financial advice

As we look back on the 12 months since the UK first went into lockdown one thing is abundantly clear – financially, the last year has been good for some…

Could the UK have its own digital currency?

At a seminar in March, Haruhiko Kuroda, Governor of the Bank of Japan, suggested that the central bank should immediately start “preparing thoroughly” for a future with its own cryptocurrency.

The Beijing Billionaires

For the last seven years the title of the city with the most billionaires has been held by New York, but this year a new name has taken over and…