Talking Money – July 2016

The latest online version of Talking Money is now available. In the issue there is a piece on alternative assets – all well and good, but please remember that for most people this is unnecessary, focus on getting the basics right before trying to take additional risk with a more sophisticated range of options.

For example, we have just watched Andy Murray and Serena Williams become champions of Wimbledon again. Frankly they make tennis look pretty easy, and often make their opponents look like a poor match. The truth is rather different, as it is with investing. Focus first on getting the basics right (something that our Government fails to do).

So what are the basics…

  • Have a plan
  • Spend less than you earn
  • Build reserves
  • Avoid debt wherever possible
  • Remember the impact of inflation
  • Take a long-term perspective
  • Diversify risk
  • Automate your saving – reduce your proscrastination
  • Ensure you have a Will
  • Have adequate financial protection
  • Take advantage of tax allowances
  • Live your life and dreams, not someone else’s
  • Someone will always have more than you, success is not a bank balance
  • Review, review, review….

Dominic Thomas
Solomons IFA

You can read more articles about Pensions, Wealth Management, Retirement, Investments, Financial Planning and Estate Planning on my blog which gets updated every week. If you would like to talk to me about your personal wealth planning and how we can make you stay wealthier for longer then please get in touch by calling 08000 736 273 or email