Myth #1: The bigger your pension the better
We’ve been led to believe that you should do whatever you can to grow your pension. But it’s possible that you’ve already got enough and anything extra could be put to better use.
Myth #2: Always diversify
The idea that the only good portfolio is a diverse portfolio has been around for a long time. But there are many situations where being more narrowly invested can actually be a better approach.
Myth #3: You should always accumulate wealth
What’s the use of slaving away to build up assets that you won’t get to enjoy? A lot of our clients find out that it’s possible to enjoy the life they want with the assets they already have.
Myth #4: Pensions are just for retirement
After you reach age 55 your pension can become a powerful tool for both spending and investing. Many people accessing it early as an alternative income while they continue to work.
Myth #5: Hold onto your money no matter what
There are a lot of good reasons to hold onto money and assets, but sometimes it is financially smarter to share some of it with your children before your will kicks in.
Myth #6: Retirement is a date
For some people working for 40 years and having a big retirement party is exactly what they want. But other people prefer the idea of continuing to work but winding down over time.
Myth #7: Care fees are a bottomless pit
A lot of people worry about out living their money, especially when living in a care facility. But there are ways to completely elimate financial risk, giving you piece of mind.