The two things really annoying me on the run up to Christmas….

 In Cervello Talks, Guest blogs, Personal

It’s an exciting time as we approach Christmas in the Daems house. We’ve had a six year old turning seven and a fourteen year old turning fifteen (Today! Happy birthday Charlotte!) and the festive spirit is certainly in the air as we spend time with old friends and new, partake in some lovely food and drinks, celebrate a fun and eventful 2018 and look forward to 2019!

However despite trying desperately to ensure that life is as positive as possible there are two very specific things which are annoying me at the moment.

One is trivial and slightly tongue in cheek…and involves the way Sausage and Bacon sandwiches. I won’t go into detail but let’s be clear…there’s no such thing as a ‘Pigs under blankets’ Sandwich.

The other however is a bit more serious…

This week I’ve had two worrying conversations with people about “financial advice” their parents had received . One with a prospective client and one with a lovely lady I happened to be sitting next to at a festive lunch.

Both conversations were similar in nature…

The parents of the two people I spoke to were in their 70’s and 80’s respectively. 

They had worked hard and accumulated wealth. 

Their children were in a position where they were on their own paths to financial security, were adults in their forties and didn’t need (or want) Mum or Dads money. 

They’d also told Mum and Dad to ‘enjoy it while you can’….

“So” I said to the lady who I was speaking to at a lunch “Why haven’t they done that then?”

“Well” said the lady “They have a financial adviser who told them that if they take too much money out of their pensions and investments….they won’t be able to recover the money they take out”

“Why does that matter?” I questioned “Surely the reason for spending years working hard and accumulating wealth is to enjoy it while you can?”

“Exactly” said the lady…

Money can be a complicated and emotional subject. I’ve certainly had clients where after years of accumulating money they’re in a position where they struggle to spend. It gets even more complex when you start to think about families, legacies and what we want to happens when we’re gone…

However if your children are financially independent and on the right track, you’ve got enough money to last your lifetime and you’ve still got a bunch of stuff to tick off the ‘bucket list’…

…surely some of the wealth you’ve accumulated should be spent on achieving these goals?

I see our role as financial planners and advisers as an empowering one. An opportunity to help people plan to achieve their goals in life…and connecting the money to help them achieve these aspirations…

So, when I hear about examples of ‘financial advice’ which are all about the arbitrary accumulation of wealth with no conversation with the clients about what they actually want to achieve it makes my blood boil just a tiny bit!

What do you think?

If you need some help to do this feel free to contact us on cassiedaems@cervellofp.co.uk or 01708 606 202.

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