Auteur/autrice : Charles Mills

Conseiller en gestion de la fortune et en planification financière

Catégories
Retraites

Come Retirement, You Reap What You Sow

Hand planting beans seed in the vegetable garden. Growing vegetables

Come Retirement, You Reap What You Sow

“Some of the wealthiest people in the world became wealthy by saving money” – Doug McMillon

2 min read

Hindsight, they say, is a wonderful thing and that is certainly true for many retirees struggling financially. Diligent planning at the earliest opportunity, however, can make all the difference between enjoying a comfortable retirement and enduring a regretful one.

Retirement Regrets

Research constantly shows that people typically leave retirement planning too late and regret not saving more across their working lives. For instance, a survey1 recently revealed one in five people expect to leave planning for their retirement until they are aged at least 60. Another study2 found almost half of over-50s regret not saving into a pension sooner, while nearly two thirds wished they had made larger contributions at an earlier stage. These findings vividly highlight the need for more people to take control and prioritise retirement planning earlier in their working lives.

Pension Blind Spots

Other research3 has revealed the cost of being kept in the dark on key pension details, with over three-quarters of people not knowing how much they pay in pension fees. Additionally, a third of pension holders are unaware of their pension’s risk profile, with a similar proportion invested in low-risk funds. This lack of awareness in relation to fees and investment choices is estimated to cost an average pension holder around CHF 140’000 over their working life.

Engagement Gap

The lack of engagement has led to an industry campaign to boost people’s understanding of pensions. The campaign, which is due to run this autumn and winter, will aim to raise awareness of various pension-related issues so that more people can ultimately enjoy a better standard of living in retirement. Patterson-Mills completely supports this initiative and believes that one of the keys to a successful retirement is not just saving but financial education, too.

Help at Hand

While current everyday financial pressures can make saving a difficult task, it is clearly imperative not to neglect your pension if you do want to avoid retirement regrets. We can help you take control to ensure you are able to enjoy the happy and fulfilling retirement you deserve.

Get in touch today and book your initial, free, no-obligation meeting. You have nothing to lose and potentially lots to gain! Send us an e-mail to charles@pattersonmills.ch, call us direct at +41 78 214 84 32.

1Hargreaves Lansdown, 2022

2Aviva, 2022

3interactive investor, 2022

Catégories
Planification Financière Investments

Positive Steps to Achieve Financial Freedom

Plan for your future

Positive Steps to Achieve Financial Freedom

3 min read

When are you thinking of retiring? With many pre-retirees reassessing their lives and priorities in the wake of the pandemic, there really is a seismic shift for many people towards achieving life balance. People need a plan to flex with their changing aspirations – it has become more about living life rather than going through the motions of the daily grind.

With earlier retirement a serious consideration for many seeking balance, a quarter of those sampled who aspire to retire early feel that age 60 is the optimum time to do so1.

Embracing a New Lifestyle

What really makes you happy? If you are planning to celebrate your 60th birthday by saying ‘goodbye’ to working life, it’s good to know that 68% of people report an increase in overall happiness as a result of retiring early, with 44% of early retirees reporting their family relationships improved and 34% citing improvements in their friendships. From a health perspective, 57% of early retiree respondents report a boost to their mental wellbeing, with 50% believing their physical wellbeing has improved.

Driving Force

Nearly a third (32%) of people who retired early or plan to do so are driven by the desire ‘to enjoy more freedom while still being physically fit and well enough to enjoy it.’ Other factors driving people to pursue early retirement include financial security (26%), reassessing priorities and what’s important to them in life (23%), wishing to spend more time with family (20%) and finding they are either ‘tired or bored’ of working (19%). Stress is also a contributing factor that 19% of respondents are keen to eradicate.

Pause for Thought

With a sizable 24% of people returning to work after retiring because they experience financial issues, careful planning is essential. Interestingly, 47% of retirees found that their finances worsened and only 22% felt they benefited financially from their decision to retire early.

Positive Steps to Financial Freedom

People cited steps toward making early retirement achievable like paying off a mortgage (30%), saving little and often (29%), saving extra when they receive a pay rise or bonus (19%) and receiving an inheritance (14%).

We are here to reassure you that happiness does not need to come at a cost when retiring early. Although it is very important to be realistic, with meticulous planning and careful consideration, we can assess and develop a robust plan to align and flex with your changing requirements and priorities.

Financial freedom is what many strive to achieve, though not all of us know how to get there. This is where we come in.

Contactez-nous today and book your initial, free, no-obligation meeting so we can show you the way. You have nothing to lose and potentially lots to gain! Send us an e-mail to charles@pattersonmills.ch, call us direct at +41 78 214 84 32, or fill in our contact form

1Aviva, Dec 2021

Catégories
Investments

Springing Into Action

Springing Into Action

Most people don't plan to fail, they fail to plan

John L. Beckley Tweet

2 min read

Spring is very much a season of hope; a time to look forward and plan. While that’s not always easy amid a flurry of headlines concerning the cost-of-living and immense global political tensions, it’s important to look beyond short-term bouts of market volatility and ensure your financial objectives remain firmly aligned to your life goals – which may well have shifted or flexed over the last couple of years.

Investing is for everyone

At times like these, the fear of losing money can be a powerful deterrent to investing. However, in reality, most of us have been investors throughout our lives – if you own your home, for instance, you’ve invested in the property market; if you own jewellery you’re effectively investing in precious metals. With inflation factors at play, some may consider holding too much cash as a risky move at present.

Diversification is key

While it’s easy to understand potential unease in the current climate, it’s also important to appreciate markets have always experienced short-term bouts of volatility. The key to managing this risk is by diversifying your assets. By holding a balanced portfolio with a mix of equities, bonds, property and cash, this aims to effectively mitigate risk by ensuring ‘all your eggs are not in one basket.’ By building safety nets as well as opportunities for returns into your plans you will end up with an optimum mix of investment, protection and saving instruments, allocated according to your circumstances, objectives and risk tolerance.

Plan, plan, plan

Recent research1 also vividly highlights the importance of investing in relation to retirement planning. The study found that less than 40% respondents are currently on track to receive a moderate level of income in retirement. In other words, if most people don’t take action now, they face living on only the most basic standard in later years.

Regular reviews paramount

One way to ensure your financial plans stay on track is by arranging regular reviews. This will help to identify any areas of concern and ensure you avoid any untoward financial surprises at a later stage in life. With meticulous planning and careful consideration, we can assess and develop a robust plan to align and flex with your changing requirements and priorities. We’ll help you spring into action and ensure you can look forward to a sound financial future.

Get in touch today and book your initial, free, no-obligation meeting.

You have nothing to lose and potentially lots to gain!

Send us an e-mail to charles@pattersonmills.ch, call us direct at +41 78 214 84 32, or fill in our contact form below.

[fluentform id=”1″]

1HL, 2022

Facebook
Twitter
LinkedIn
WhatsApp
Adresse électronique
Catégories
Investments

Investment Terms Trigger Emotional Response

Investment Terms Trigger Emotional Response

You must learn to talk clearly. The jargon of scientific terminology which rolls off your tongues is mental garbage.

Martin H. Fischer Tweet

2 min read

Investment terms (aka Jargon) are common in the world of investments and pensions, which can make them seem impenetrable and intimidating. If the thought of ‘Equities’ and ‘Investment ISAs’ makes your heart race, you’re not alone, new research1 has shown that financial terms really do make people anxious.

Jar-gone

Researchers used a variation of the Emotional Stroop Test, which measures information processing speed when naming the ink colour of different words, to compare response times for neutral words like ‘pencil’ with investment-specific terms like ‘FTSE.’

Nearly two-thirds of participants had slower response times and higher error rates for financial trigger words, suggesting they may be susceptible to a stress response. Additionally, 44.3% experienced an increased heart rate and 11.5% reported breathlessness.

The terms ‘Stockbroker’, ‘Asset Management’ and ‘Investment Risk’ produced three of the slowest reaction times. Other investment-related words like ‘Bond Fund’ and ‘Equities’ also took longer than average.

Don’t fear ‘FTSE’

Stripping back jargon can help people think more clearly about investments and pensions. In supporting research, Barclays found that 71% of respondents don’t feel confident enough to invest money in the stock market, with a quarter feeling ‘frightened’ by the idea.

Despite these fears, people do want to improve their financial knowledge, with three in five participants keen to learn more about financial terminology. We can relieve the stress of investments and pensions – and take the fear out of financial planning!

Get in touch today and book your initial, free, no-obligation meeting.

You have nothing to lose and potentially lots to gain!

Send us an e-mail to charles@pattersonmills.ch, call us direct at +41 78 214 84 32, or fill in our contact form below.

[fluentform id=”1″]

1Barclays, 2021

Facebook
Twitter
LinkedIn
WhatsApp
Adresse électronique
Catégories
Planification Financière Hypothèques

Avoiding Collapse: Managing Your Property Chain in 2022

Avoiding Collapse: Managing Your Property Chain in 2022

1 min read

You’ve found your ideal property, you’re just about ready to exchange contracts, and then you get the call: your buyer has pulled out, leaving your own transaction in jeopardy.

Unfortunately, many property transactions are interlinked in this way, with the decision of one buyer having a knock-on effect on the whole chain, with the worst possible scenario seeing every single buyer losing out on their new home. However, there are actions you can take to speed up the process and reduce the risk of things going wrong.

Go Chain-Free

You can avoid a chain altogether by finding a seller whose own transaction isn’t dependent on the sale of their property. However, this does limit your options, so what steps can you take if you do find yourself in a chain?

Organisation, Organisation, Organisation

Getting your transaction over and done with as quickly as possible limits the chances of your chain collapsing. Be proactive in instructing your solicitor and other professionals, ensure you’re completing forms and sending them back as quickly as possible, and chase up any delays.

Rent for a Short Period

Depending on your circumstances, it may be possible to sell your home and rent for a little while so that you’re not dependent on a buyer. Likewise, if your seller’s transaction falls through, you may be able to ask them to rent on a short-term basis so that you can still complete your purchase.

Let Us Help

Another way you can speed up your transaction and protect your chain is by securing an agreement in principle with a mortgage provider before beginning your search. We can help you there!

Get in touch today and book your initial, free, no-obligation meeting. You have nothing to lose and potentially lots to gain! Send us an e-mail to charles@pattersonmills.ch, call us direct at +41 78 214 84 32.