Helping clients to make the most of their savings

income

Financial advisers need to consider an appropriate spending strategy for their asset rich and cash poor clients that will see them through the bad times as well as the good

During a lifetime of advising clients, I have come to realise the difference between good and bad advice is never more important than at that point in people's lives when their wealth creation days are coming to an end. Most of your clients will have had an instinct to fill a pot of gold out of lifetime earnings, or from a family inheritance or unexpected windfall, but few of them have the experience to deal with it when the time comes to live off their accumulated assets. How much a client can afford to spend (with the unspoken caveat that the income should keep pace with inflation) is a ...