I’m Worried about My Pension, said Frank from Reading in Berkshire !

I’m Worried about My Pension, said Frank from Reading in Berkshire !

OK Frank, what are you worried about?

I know, I shouldn’t be worried, after all I have a big pension, and I appreciate all you do to look after it, but I still worry about what will happen to the investment markets and whether I will have enough money to provide for me and my family in the future.

It is OK to feel anxious Frank, most people are when it comes to dealing with financial matters, so you are not alone.

We have plotted your current income and expenditure and projected this forward for you, so that gives you an idea of what your future could be like “based upon assumptions that you agreed are reasonable”. Although this took quite a bit of our time to do this for you, it is after all just an educated guess.

So, looking at your overall financial situation today, it would seem as though you have more money than you could ever spend, that may not stop you worrying.

The one constant in life is change, that leads to uncertainty, how about if we look through all the work we have done together and place a big tick against all the items that we have worked on that provide a measure of certainty.

Investment & Pension Portfolios – highly diversified – TICK

Cash deposits within the portfolios, so you are making withdrawals against cash, rather than fluctuating investments – TICK

Getting rid of non-performing assets – TICK

Hang on, what was that you said?

Don’t you remember we calculated the yields you were getting on your buy to let properties and you decided to get rid of the those with the lowest yields.

Oh yes, and those investments that were not doing anything, OK TICK then.

Re-drafting your Wills and setting up Trusts, so monies go only to your blood line – TICK.

As far as me and my wife are concerned said Frank, that is a BIG TICK.

And lasting Powers of Attorney for you and your wife – TICK.

I didn’t think those were really necessary, at the time but we took accepted your advice. My next-door neighbour had a stroke a few months ago and he is only 52, so that really came home to me – YES TICK!

So, you see Frank, everything that is under your control you have taken action on, everything else is in the lap of the Gods, so all you can do about that – is to let go.

Do you know what, you’re right, said Frank.  Life’s too short, let’s go to the pub. I want to buy you a drink!

Ray Best is a resilient Financial Planner with a unique approach to investment planning, his work ethic has propelled him from humble beginnings to be voted as a top UK Financial Planner by Vouched For (as published in the Sunday Times). These days he works with families with large investment portfolios or big inheritance tax liabilities, the first step, is to book a Discovery Meeting HERE.

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