When our life circumstances change it is not unusual to feel out of your comfort zone, unsure of your path forward, or even overwhelmed. A delightful single man called Mark came to see us recently seeking advice after losing both of his elderly parents in close succession. Mark is in his 60s and has had a successful career in IT. He was trying to work out how to maximise his investment portfolio of shares and property, and his inheritance, to put him in the strongest position for retirement.
Peter and Maree came to see us seeking advice on how to manage their finances in the context of some complex family dynamics. The couple had married later in life and both had children from previous marriages. Until now they had kept their financials separate but Peter had been given a terminal diagnosis. He was very keen to ensure that any assets he had would go directly to his wife when he died. He was trying to find a solution to this but was unaware of what his options may be.
The pandemic has had a significant impact on interest rates and with the official rate now sitting at 0.25 percent retirees are having to re-evaluate their portfolios to ensure their investments are providing sufficient income. The hardest hit are those who are heavily invested in cash as the returns are not what they used to be. In this environment, we are encouraging our clients to seek advice and to consider rearranging their portfolios to include a diversity of asset classes that can deliver higher returns over the long term.
