It’s Good To Talk…

Cleared out your clutter, re-decorated your home and taken up new hobbies during Lockdown?

Many of us have found productive ways to fill any spare time but have you discussed your finances?

Money can still be one of the great British “taboos” and we are often reluctant to talk about it to our family and friends – let alone strike up a conversation with a financial adviser!

It’s obviously vital to pick an adviser that you can trust – and one that speaks in clear, concise and jargon-free English.  

While having these discussions, always remember it’s never too late – or early to start!  Whether you’re looking forward to retirement – or just starting out on your career path – financial planning is vital. 

Of course, it’s essential to be realistic.  The measures you need to take in your 20s are very different to those in your 50s.  Likewise, if you’re already retired your priorities are likely to have changed.

Once you’ve decided to carry out a “Lockdown review” what do you do next?

My advice is to think about it carefully, discuss it with your nearest and dearest and then take the following steps:

Retirement Planning:

➢ Identify your goals for later life and how you want to lead your new life.  Then establish the funds you need to achieve it. 

➢ Review your pension funds and track down any lost or forgotten “pots”.

➢ Check out the Pensions and Lifetime Savings Association’s set of Retirement Living Standards

➢ Take professional advice and plan accordingly. 

As women, it’s important to remember can also still be disadvantaged and I am always very happy to discuss ways to address this.

For an overview, this informative article is a great read:

Looking forward to giving up work or already retired?

The good news is that people are living longer.   The bad news is that you’ll need more money as a result.

Getting your investments right is crucial at this stage and this where I can help with regular financial health checks.

Talk to your Family:

Discussing your finances is vital.  Many of us focus on legacy planning and, although vitally important, there are other areas to consider. 

If you’ve got young children or grandchildren, you may want to invest money for them. Again, it’s really helpful to take professional advice.

You may also be considering helping them to get a foot on the housing ladder – particularly timely, right now, as the  Government has suspended Stamp Duty up to £500,000 until March next year.

To read more, see our recent Insights’ article –

 Planning ahead:

Whatever your stage of life, we can help. We’ve worked throughout lockdown – giving advice from our homes to you in yours. 

Don’t delay – please get in touch today, for a friendly informal chat.

The value of an investment with St. James’s Place will be directly linked to the performance of the funds you select and the value can therefore go down as well as up.  You may get back less than you invested.

Sovereign Wealth Limited is an Appointed Representative of and represents only St. James’s Place Wealth Management plc (which is authorised and regulated by the Financial Conduct Authority) for the purpose of advising solely on the group’s wealth management products and services, more details of which are set out on the group’s website Sovereign Wealth Limited is a Limited company registered in England and Wales, Number 07115386. The ‘St. James’s Place Partnership’ and the titles ‘Partner’ and ‘Partner Practice’ are marketing terms used to describe St. James’s Place representatives.