Financial News Update we 29/07/2011

How are you?

I cannot quite believe we are fast approaching August already! Where does the time go?

Bear with me on this but, I have also noticed recently just how much my children enjoy playing with Lego… I am not talking about some “Harry Potter”, “Doctor Who” or “Star Wars” version that you can buy these days, just the plain old vanilla flavour Lego, the one you and I probably had as children – in fact, some of it may well be my old Lego?!

Anyway, without wishing to go too far off on a nostalgic tangent, it has made me appreciate that, no matter what “developments” occur, some things do not change…

In much the same way, the need for financial advice has not really changed over the years, yes there have been new products as well as a fair share of bad press – endowments, pensions, Madoff etc - but on the whole most people still need financial advice at some stage in their life, if not on more than one occasion and, in terms of the bad press, not all advisers were created equal!

The reason my children play with Lego is because they enjoy having a plan in their head, creating something for themselves to meet that plan, it makes them feel good – a sense of achievement and all that – and yes, sometimes they do ask for help or guidance…

So why is that not the case with financial advice?

Ok you may not “enjoy” the planning side of things when it comes to your finances but, then again, why not?

If you have something to work towards, putting in place a plan to achieve it can most certainly be an enjoyable experience with that sense of satisfaction at having created something, a plan for what you want to achieve.

These days it is easy to get caught up in our expectancy of everything being done at once, but some things in life, like a fine wine, do take a little more time and effort!

We all have our dreams and aspirations, so if we are not planning towards them, what are we doing? And, you never know, you may also require some guidance or advice?!...

This Week …

Estate Planning

Daughters challenge deathbed will & wedding http://tgr.ph/qRjFBO
Public Bodies Bill: reforming the public bodies of the Ministry of Justice http://bit.ly/r4jkEZ

Long Term Care

Bid to scrap care home plan defeated: http://bit.ly/pFwnGx
Elderly care: expert to review quality and regulation http://ow.ly/1dZs15
An age-old problem... http://ow.ly/1dZVZX
Partnership warns that LTC will still be pricy despite Dilnot http://ow.ly/1e0eVc

Retirement

Dumping equities in later life does 'not suit everyone': http://bit.ly/qV3gBz
Millions get pension boost: http://bit.ly/ntfjyo
Public sector pensions: Contributions to rise by £1.1bn http://bbc.in/nznt0g

Investments

Treasury boost for with-profits annuities: http://bit.ly/qQCHr2
House prices are stabilising, says Nationwide http://bbc.in/qWvgJ7
Low rates on children's accounts 'discouraging saving' http://bbc.in/oC2tQW

Have a great weekend!

Regards
Kieron