“By failing to prepare, you are preparing to fail.”
For many of us, we start reviewing our finances much later in life than we should. We regularly assess our careers, friendships, and homes, but often leave one of the most important areas—our finances—until last. The good news is that it’s never too late to start.
Financial issues arise for many reasons, including a lack of financial literacy and education in schools, and a lack of open discussions at home. This results in generational differences in money management.
Do you want help reaching your financial goals? Do you have specific aims, such as saving for your children’s education, paying off your mortgage, or consolidating multiple pensions into one scheme? I can assist with all your financial planning needs, from ISAs to investing, and from pensions to philanthropy.
What if your finances are already in good shape? Great! Now, let’s make sure they stay that way and continue to improve. With constantly evolving tax laws, tax breaks, and regulations, what applies today may not apply in two years. This is something many people overlook: maintaining a strong grasp on your finances is a lifelong commitment.
Family wealth is known to diminish through generations, a concept reflected in sayings from various cultures:
Japanese: “The first generation builds the wealth, the second maintains it, the third loses it” (“rice paddies to rice paddies in three generations”).
Chinese: “Wealth does not pass three generations.”
Scotland: “The father buys, the son builds, the grandchild begs.”
USA: “Shirtsleeves to shirtsleeves in three generations.”
Italian: “From stables to stars to stables.”