Download our 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 created a comprehensive guide, to provide information about what financial support is available to help individuals and businesses through the COVID-19 outbreak and how to look after your well-being.  This can be downloaded for free here.

The Government created new legal powers in the Covid-19 Bill, enabling it to offer whatever further financial support it thinks necessary to support businesses. On March 17th, the Chancellor, Rishi Sunak, announced an unprecedented package of government-backed and guaranteed loans to support businesses, making available an initial £330bn of guarantees – equivalent to 15% of the country’s GDP.

This was on top of a series of measures announced at Budget 2020. The Government announced £30bn of additional support for public services, individuals and businesses experiencing financial difficulties because of Covid-19, including a new £5bn Covid-19 Response Fund to provide any extra resources needed by the NHS and other public services to tackle the virus.

When we consider lifestyle, as part of the financial planning process, we need to include health, relationships, time personal fulfilment, career, fun and recreation, and financial independence – not just the money.

So in the guide we also look at how to work more effectively from home (we have found this very easily and I’m saving a fortune in petrol!) and keep fit and healthy during a period of self-isolation or lockdown, which is vital for our physical and mental well-being.

If you have any queries or we can be of any further assistance, please do not hesitate to contact us.

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…