Blog

Are you using all available tax allowances to avoid paying unnecessary tax?

By David Lamb CFP™ MCSI Nobody likes to pay unnecessary tax but are you taking advantage of all available methods to reduce your tax bill legally? With careful planning, you can: Reduce your income tax Is your tax code correct, can you claim tax credits and anything from the marriage allowance or pay into a More…

How to tackle the biggest threat to your wealth: inflation

By David Lamb CFP™ MCSI I have seen many investors with a portfolio that has no real relevance to their lifestyle and ambitions. Often they have some lower risk investments in deposit accounts and then longer-term investments to provide the best returns they can get, or an income to supplement their pension. But far more More…

Keep calm and take a long term view

Investors should not panic about short term down markets following the invasion of Ukraine, and instead take a long term approach. That’s the clear advice in our Ukraine-Russia Crisis guide, just published on our website. The 24-page guide looks at emotional v market volatility, risk tolerance and how it is important at times like this More…

Why you need to plot your lifestyle ambitions before deciding on level of investment risk

By David Lamb CFP™ MCSI During my three decades in financial planning I have found many investors take far more risk with their money than they need to. This often leads to tears because they have invested in poor performing or risky investments. Financial advisers need to complete an investment risk analysis before that client More…

Why a bucket list is essential if you are to make the most of your life

By David Lamb CFP™ MCSI As I mentioned in my first blog in this series, financial planning is about ensuring when you have one foot in the grave and look back over your life you have no regrets. Because by then it will be too late to do anything about it and you will be More…

Looking down memory lane as we celebrate 30 years in business

By David Lamb CFP™ MCSI It is a momentous week for Lamb Financial.  For it’s exactly 30 years since I launched the business which went on to become Lamb and Associates (now Lamb Financial). And what a week the first week in February 1992 was. In other news, Foreign Secretary Douglas Hurd signed the Maastrict More…

Why financial planning needs to be designed to support your lifestyle

By David Lamb CFP™ MCSI Many people invest their money to get the best returns possible and the financial services industry encourages this (it helps them sell more products). But within a financial plan it is essential that your investments are designed to support your lifestyle. The first thing to consider is an emergency fund. More…

Triple lock suspension leaves pensioners out of pocket

By David Lamb CFP™ MCSI Welcome to 2022! It’s hard to believe that it is now more than two decades since people were partying like it was 1999 and worrying about the millennium bug! But time flies and, for many, retirement seems to be hurtling towards us. It is prudent to review your pensions on More…

Why yesterday’s interest rate rise may not be all good news for investors

By David Lamb CFP™ MCSI Yesterday the Bank of England announced that it would increase interest rates from 0.1% to 0.25%.  This is the first rise in interest rates in three years. This may seem good news for investors struggling to achieve value with interest rates of around 0.5%, but unfortunately the news is not More…

How much is enough to support your lifestyle? If you don’t know, you don’t have a financial plan.

By David Lamb CFP™ MCSI Do you know how much is enough to support your lifestyle, without the fear of running out of money? This is one of the most important questions financial planning will help answer. We see many people working longer than they need to because they do not know how much is More…

Big increase in inflation means now is the time to discuss investment options with your financial adviser

By David Lamb CFP™ MCSI Figures from the Office of National Statistics show that the Consumer Price Index hit 4.2% in October, up significantly from the September figure of 3.1% and the highest for more than a decade. Governor of the Bank of England Andrew Bailey admitted this was slightly above their predictions and suggested More…

Achieving your life’s aims – the real focus for financial planning

By David Lamb CFP™ MCSI We have looked at the ten key components that make up your lifestyle in a series of blogs over recent months. Once you have identified your desired lifestyle, the next step is to establish how you will fund it, which brings us on to financial planning. Many people think that More…

Lamb Financial joins exclusive list of accredited CISI financial planning providers

Lamb Financial has joined an exclusive list of financial planning firms accredited by the Chartered Institute for Securities & Investment. We are one of only four financial planning providers in the North East, and 67 nationwide, to achieve Accredited Financial Planning FirmTM status out of more than 5,400 advice firms operating across the UK. Those More…

Who will look after your money if you can’t?

By David Lamb Most of us do not want to do think about our loved ones or ourselves losing mental capacity and many people think ‘it won’t happen to us, we’re fine’. But what would happen to our finances if this were to happen? Effectively the Court (of Protection) comes along and puts a padlock More…

What can I do if my pension fund is suspended?

One of the major perils in the minefield that is pension funds is a fund being suspended, which can happen for a variety of reasons. David Lamb, from The Pension Sharing Service, explains what your options are if, like Karen, this happens to you. Karen was awarded 100% of one of Norman’s pensions, and a More…

Why your biggest fear should be running out of time – not money

By David Lamb In the last in our series of articles on the components that make up our lifestyle we look at abundance. This is when you have more money than enough…enough to give you the lifestyle that you want without the fear of running out of money, whatever happens. Many people do not realise More…

The most important thing about money? Knowing how much is enough…

By David Lamb When I first started writing about the components that make up our lifestyle, I suggested that money was at number nine. We eventually got there! It doesn’t matter how much money you have, if you don’t have quality physical and emotional health, good relationships, enough time, personal fulfilment, a satisfying career, enjoyable More…

Beige budget balances spiralling debt and stagnant economy

By David Lamb Last Wednesday’s budget was quite beige, but what could Chancellor of the Exchequer Rishi Sunak do? He must balance spiralling Government debt with an (almost) stagnant economy. Hopefully that stagnation will turn into a coiled spring as we get closer to the end of lockdown and the £130bn that the British public More…

Who will look after your money if you can’t?

By David Lamb Most of us do not want to do think about our loved ones – or ourselves – losing mental capacity and many people think ‘it won’t happen to us, we’re fine’. But what would happen to our finances if this were to happen? Effectively the Court of Protection comes along and puts More…

Why financial independence may be a lot closer than you think…

By David Lamb The next component of lifestyle, after fun and recreation is financial independence. Financial independence can be described as having enough income to pay for your living expenses for the rest of your life without having to work or be dependent on others or a business. At first this may sound quite difficult More…

Leading investment firm highlights interest rate threat to fixed rate investments

By David Lamb A couple of days after I wrote my last blog, highlighting my concerns about fixed rate investments, I found a very interesting article written by Giulio Renzi-Ricci of Vanguard Asset Management Limited – one of the world’s largest investment companies and a leader in passive investments. Giulio is concerned that the correlation More…

Rising interest rates: be careful what you wish for

By David Lamb Many people are hoping interest rates will increase, but a rise in interest rates could adversely affect your wealth. Normally I prefer to focus my blogs on using your money to support your lifestyle but as we are living through exceptional times I thought it appropriate to make an exception. In the More…

Why you need to prioritise fun and recreation in retirement planning

By David Lamb We all understand the need to work; it puts food on the table and pays the mortgage. It is so important that very early in our children’s lives we ask them ‘what you want to do when you grow up?’ Unfortunately, however, fun and recreation is often seen as an add-on; something More…

Whether you have a job, career or vocation – you need a balanced lifestyle

By David Lamb My last blog looked at personal fulfilment. For many people, work provides a lot of personal fulfilment…if it is the right level of work. I think there are three levels: a job; a career; and a vocation. However, at the moment many people are having to settle for any job at a More…

Personal fulfilment: how a balanced lifestyle leads to a wonderful life

By David Lamb Personal fulfilment is the achievement of life goals which are important to you as an individual. It is what makes you want to go to bed late and get up early. It could be work, hobbies, family, fun…it doesn’t matter. It’s what drives you to fulfil your life’s goals. Many people help More…

Don’t trade too much time for something less important – money

By David Lamb Time is an essential component of a balanced lifestyle and, regardless of any other factors, we all have the same amount of time in any one day. But time is a strange thing. Is it long, or is it short? It depends upon what you are doing, doesn’t it? If you are More…

Money could make you happier, but it is relationships that will make you truly happy

By David Lamb I have considered the importance of both physical and emotional health as part of your lifestyle in my recent blogs. This week I’m going to discuss the importance of relationships. Do you remember all the celebrities who died in 2016? David Bowie, Prince, Mohammad Ali, Terry Wogan and Ronnie Corbett to name More…

Why emotional health is key to your quality of life

In my last blog, I suggested the most important factor in a balanced lifestyle is physical health. The second is emotional health. People who are emotionally healthy have greater control of their thoughts, feelings and behaviours and are more able to cope with life challenges. They keep problems in perspective and bounce back from setbacks More…

Physical health: always number one on your list of lifestyle priorities

In my last blog, I suggested that on a scale of one to ten – where one is the most important thing and ten is the least important – money should be scored at number nine. The most important factor in your lifestyle is physical health. If you have poor physical health, you may not More…

How much is enough to retire: the $6m question

A friend of over 40 years said to me recently “Lamby, I’m retiring at 55 and I don’t need a financial adviser to tell me how much I need in my pension for me to retire, because I know how much I need; all I need is enough”. And my friend was right. All you More…

Take a ride on our lifestyle wheel

Many people think that financial planning just involves buying financial products such as pensions or investments. I have not met many people who really want to buy a pension; what most people really want from their money is to be able to achieve and maintain their desired lifestyle without the fear of running out of More…

Reducing financially induced stress

On June 12th it was announced that the UK economy shrank by a record 20% during the April lockdown. Whilst this probably did not come as a surprise to many (other than housekeeping, what did you buy in April?) it will not reduce the strain on many people’s finances. This could cause stress for a More…

Part-time work – the encore of your career

In my last blog I discussed avoiding a boring retirement. In my experience, I have seen many clients keen to retire but, having achieved that goal, they find that after around six months they start to get bored and many return to work, albeit part-time. In this article I will consider the merits of working More…

How are you finding your first taste of retirement?

Did you see the news reports of Mercedes, BMWs and SUVs queuing at food banks in America recently? It is quite a sobering thought to think that these apparently wealthy people do not have adequate emergency funds to support little or no income for only a few months. Do they have the wrong priorities; nice More…

Download your FREE guide on financial support for businesses and individuals during Covid-19

During this very challenging time, I hope you are staying safe. The rapidly developing news of the spread of the coronavirus pandemic and how it is impacting on our families, friends and businesses is a huge concern for us all. Understandably, people are worried about the general economic outlook and their financial planning. We have More…

My favourite case

About 10 years ago, I was having an annual investment review with Cumbrian clients Andrew and Mary. They had spent over 30 years building their business and sold it, when they retired. Unfortunately, they were not spending their money, only living off the ‘interest’, because they were scared of running out. I asked them, if More…

What should a good financial planner be doing for you?

A good financial planner needs to get to know you really well. It is essential that they get to know you first and get to know your money later. Going straight to the money is like a doctor putting his glove on before you tell him what is wrong. Most decent financial advisers get to More…

How a client’s tears changed my life

I had been an independent financial adviser for 15 years and I was getting bored. Talking about pensions, life assurance, investments, funds, volatility and returns was not very exciting. And did it make any real difference to our clients’ lives? Probably not. Then, one very wet Monday evening, an existing client came into our office More…