A recent straw poll of high earning professionals indicated that 80% are not implementing effective plans to optimise their investments and long term future earnings. The most frequently cited reason is that they are too busy “doing their day job”, leaving little or no time to devote to identifying the best investment opportunities available.
In a world of ever increasing awareness about the environment, carbon consumption, climate change and weakness in traditional asset classes woodland stands out on its own as a valuable investment. This is a point well understood by an increasing number of investors looking to get asset backed investments with long term stability and green credentials.
Information is the oxygen which fuels every investigation. Professional advisers and their clients need to be aware that HM Revenue and Customs’ (HMRC) investigators have a wealth of information at their finger tips. And where there are gaps in their knowledge they have powerful tools at their disposal to help make good these deficiencies.
Proprietors of most businesses large or small are notoriously bad at sorting out their own personal finances. Barristers are no different than individuals in other trades and professions. There is a simple four question acid test that everyone in business should ask themselves. The questions are quite simply:-
The painfully low interest rates and volatile stock markets we have seen in recent years have caused many to question the point of investing. For barristers, who face additional uncertainty over the incidence of their income relative to those in the salaried professions, taking risks with hard-earned savings must seem particularly unwelcome.
In this internet age, where information is widely available at the click of a button, one would be forgiven for thinking that making good financial decisions is easy. It is possible to go online and compare financial products, buy investment funds or insurance and even apply for a mortgage or a loan.
Not all bad things come out of a decade of austerity. After some tough talking and a tough budget we have been suitably softened up by the new coalition government to expect some harsh times, and of course we are not alone as one by one other nations with equally poor financial disciplines slowly come forward to admit their sins...
Andrew Yonge and Angela Kellock of Smith & Williamson, the accountancy and financial services group, highlight key issues to consider when dividing assets on divorce.
