I’ve never been much of a fan of watching football. I can never join in the conversations happening around me when talk about last night’s game crops up in the office. Thankfully, the fortunes or failures of a group of sportsmen or women do not affect me apart from having to endure the moans and complaints about a ‘shocking lack of defence’ or a lament about a ‘missed opportunity’.
I might not know much about football but I still know the best teams don’t rely simply on a good offense or good defence. They need both. Certainly, some teams manage to dominate the game by focusing their efforts on a strong offensive strategy, but in almost all teams there must be a basic level of defence to ensure that the game is won. It’s the same with your money. A great income or substantial pension is no substitute for having a strong defensive money strategy. At PenLife we recognise your money needs all the help it can get to protect it from the many threats to your wealth, most notably from the Tax Man.
Many of our clients come to us having been the star strikers in their financial life but they need help taking their money-game to the next level. As financial planners we can ensure our clients have a solid plan to reach their goals in the best way possible. We understand the rulebook and we can save our clients from getting the red and yellow cards of excessive tax and penalties that could affect them.
Some say a good offence is the best defence, but this is only true up to a point especially for our clients who are moving closer to retirement. This is when developing a strong defence is particularly important to ensure money is not lost to the tax man in various guises, from capital gains and breached income tax thresholds, to local authority care fee demands and eventually to inheritance tax at the end of life’s 90 minutes.
Adam joined Pen-Life in November 2015 as a Paraplanner. Not to be confused with anything related to jumping out of planes, paraplanning is a technical role working with advisers behind the scenes to ensure the advice given to our clients is well researched and then implemented correctly. He has achieved the CII Level 4 Diploma in Regulated Financial Planning, the academic benchmark required to become an adviser but still has a lot of learning to do!