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Some of our thoughts

Later life advice - expert Jenny Ives can help

Anyone thinking about, or on the cusp of retiring will be given ‘permission’ to enjoy their life and their savings in later years by Goodmans’ senior financial planner, Jenny Ives, who joined the team to specialise in ‘later life’ advice.

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Acting as an attorney or trustee? Read on...

Jenny Ives, Senior Financial Planner and our expert in Later Life finance, unlocks some of the complexities experienced by those given the weighty responsibility of power of attorney

Attorneys are often not aware of the full scope of their duties and powers; or the restrictions and guidance they are required to adhere to as laid down in the lasting power of attorney (LPA).

You may have already been thwarted in your attempts to carry out your duties as attorney, when dealing with banks and insurance companies. While the intention is to allow you to act on behalf of another due to their incapacity (mental or physical), there is undeniably much confusion around operating and implementing the power of attorney.

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Recent state pension changes – what do they mean to you and how can you take steps to boost your state pension?

Jenny Ives, Senior Financial Planner and our expert in Later Life finance, looks at changes in the State Pension and how you can improve your own ‘pot’

The latest round of state pension changes were implemented on 6 April 2016 and this October the Department of Works and Pensions (DWP) launched another consultation on state pension age, which is set to run to the end of the year. Its purpose is to ensure the state pension age ‘remains affordable and fair for all’.

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Bringing our clients together for our annual lunch celebration

We recently held our annual lunch event at the historic Duke of Cornwall Hotel in Plymouth and it proved a great opportunity to thank our existing clients and give them a chance to meet and chat with the fund managers that actually manage their money. The lunch provided a great medium to show our clients how Goodmans works as financial planners to protect and enhance their lifestyles and finances in an unpredictable global marketplace.

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Nut, Nuts, Nuts! Will you have enough to see you through?

Andrew Moore of independent Chartered Financial Planning firm Goodmans explores the issue of running out of money in retirement

Squirrels have a simple strategy for the winter months. Collect all the nuts in the autumn, hide them and then try to remember where they put the nuts when they are hungry. They have an inbuilt urge to bury as many as they can, and usually have enough to see them through. It is pretty similar to most people’s retirement strategy. We build up all our assets in our 40s, 50s and 60s, i.e. the late summer and early autumn of our lives, and hope we have enough to see us through the winter…

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Enough is enough! Are you on course to retire when you want to?

Andrew Moore, Senior Financial Planner in our Plymouth office explores the intricacies of retiring on your own terms. This article was originally published in the Autumn Edition of Devon Life Business & Professional .

Retirement is an odd word. It assumes that we have a very simplistic life where we work only because we have to and then stop, or retire, from that work to enjoy all the pleasures and fun we have long thought about. For many of our clients retirement is more a growing realisation that they have the financial resources to choose whether they work or not. It is about waking up in the morning, opening the curtains and having the freedom to choose how that day is spent. That kind of financial freedom is precious and I can see why those that retire successfully are some of the happiest people I come across.

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Should you be aiming to sell your business twice?

Andrew Moore, Senior Financial Planner in our Plymouth office explores the concept of selling your business twice. This article was originally published in the Summer Edition of Devon Life Business & Professional .

Following on from my previous article in Devon Life Business & Professional on the importance of having a clear game plan for your own life, I am going to touch on the specific issue of using a business to fund your retirement years.

For many business owners, a large part of their retirement plan is to eventually sell the business they’ve built, step back and enjoy a well-deserved and well-funded retirement. When it works, this strategy is brilliant, and we see many clients at this stage with a handsome amount of capital to make use of, and investment decisions to make.

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Working on your own game plan and not just the business.

Andrew Moore, Senior Financial Planner in our Plymouth Office, explains why a great game plan for your own life can make running a business much more enjoyable. This article was originally published in the Spring Edition of Devon Life Business & Professional .

Life is full of ‘projects’ to work on. We have a sense that they are worthwhile if they take us forward, give us more money, build up our assets or grow the business we work in or own. Often these activities are all-consuming and there is an element of spinning on a wheel. How often do we stop and get a sense of why we are working so hard.

As a financial planning firm we see clients in the run-up to retirement and then guide them through a fun and exciting ten to twenty years before helping them settle into a secure later life. When you have enough capital, and importantly you know you have enough capital, the years between 55 and 75 can be the best years of many people’s lives. If you have looked after yourself, you have your health, you have money, and the kids can be hidden from on some beach where mobile phone reception is poor. Smart clients also recognise that the biggest shortage they have is time. This gives an added poignancy to the pleasures and lifestyle enjoyed in these years.

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