A Different Perspective

Whether you are born in to wealth, create your own or inherit it, will have a major influence, not only on how you see the world but on how you act within it.

What you perceive as normal varies from your own position. Sometimes we need to look at things from a different angle.

Most of my clients would be described as having above average levels of wealth, but for some it is a shock realisation, and needs time to sink in. For those who have worked hard to accumulate savings and pensions, or sold a business, the realisation that they have money is one thing, but spending is another with regular income stopping.

Some live on very little, but the majority of my clients feel they need around £2k per month. Using the rule of 4% as the amount that can be withdrawn from a fund without depleting it over time, this means a fund of £600k would be sufficient to see them throughout their life.

The reality is somewhat different. There is usually a state pension or other pensions to consider. There are also holidays, car changes, gifts and house repairs as well. Plus is it 4% before or after investment cost and what about the effect of inflation?

Once we help sort the above, a large, unexpected, major expense may cause panic again.

The best part of my job is helping clients find out what their true goals and objectives are, and what that actually costs. Then arranging pensions and investments to produce the investment returns and income levels or capital access to achieve them.

Fortunately, Beacon’s in-house Investment Team have a great track record over the last 10 years (see www.beaconwm.co.uk), and we are made up of many Chartered individuals across various departments, who enjoy combining knowledge and experience to help clients along their journey.

Life is not how we always expect it to be, and sometimes we need an outsider to lend a hand, or offer a different perspective. If you feel you need guidance or a little steer in the right direction, speak to us or another experienced adviser, preferably one who is Chartered or Certified. They don’t usually cost any more than those with the minimum Diploma qualification, but can offer more knowledgeable advice.