About
I work with business owners and individauls, around the Midlands, to ensure they get the true financial benefit their hard work deserves. I help them, their families and their employees, plan for the future and financial independence.
Specialisms
Insurance:
Life Insurance and Protection
Investments:
Investments & Savings, Pensions
Mortgage:
Remortgage (Uk Residential), Equity Release, Mortgage (Uk Residential)
Payment
Options:
- Fee
- Commission
Qualifications
Level A Qualifications:
Level B Qualifications:
My wife is pregnant with our first child. When we start looking for life insurance?
- savingseb asked 2 years ago in Insurance
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Expert Financial Adviser Answer
D C
answered 2 years ago
First of all, congratulations to you both. As far as life insurance is concerned, you should consider this straight away, particularly if you are the main wage earner. In the first instance, you need to make sure that she, and your new child, will have enough to live on should you die- and if you have a mortgage then consider insurance to repay that should you die. There are probably, therefore, two main insurance needs: to repay any debts, and to provide income. These needs will be best met by separate policies, tailored to your situation.
When your child is born then there may be an additional need for insurance to cover any childcare costs should your wife die, and perhaps to replace her income.
It is important to get any proposed insurance in place earlier rather than later, because it is always possible that health issues could crop up that might prevent you being insured, or might significantly increase the cost. There are many kinds of insurance, and your actual level of need will depend upon such things as any life cover provided by an employer, as well as your overall circumstances. Do make sure that you exactly understand your need so that you make correct decisions - otherwise you may pay for insurance that really is not necessary, or you might have insufficient cover.
Individual advice will be helpful to you. Having gone into your situation fully an adviser might recommend insuring both of you straight away - certainly don't just buy something 'off the shelf' at your local supermarket!
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When your child is born then there may be an additional need for insurance to cover any childcare costs should your wife die, and perhaps to replace her income.
It is important to get any proposed insurance in place earlier rather than later, because it is always possible that health issues could crop up that might prevent you being insured, or might significantly increase the cost. There are many kinds of insurance, and your actual level of need will depend upon such things as any life cover provided by an employer, as well as your overall circumstances. Do make sure that you exactly understand your need so that you make correct decisions - otherwise you may pay for insurance that really is not necessary, or you might have insufficient cover.
Individual advice will be helpful to you. Having gone into your situation fully an adviser might recommend insuring both of you straight away - certainly don't just buy something 'off the shelf' at your local supermarket!
What are some alternative investments that are low risk?
- yorkiesteve asked 2 years ago in Investments
- See all 4 answers | report abuse
Expert Financial Adviser Answer
D C
answered 2 years ago
Oh dear, I don't think there is a good answer for this. The only investments that a responsible adviser would say are low risk are deposit accounts, which are hardly suitable for long-term savings and and are certainly not alternative. Gilt funds and corporate bond funds are regarded as pretty low in risk, too, but they are also mainstream.
Other investments which might be thought of alternative could include direct purchase of artworks, or fine whisky, for example, but these are certainly not low risk. There is a market known as the Alternative Investment Market (or AIM) which a stockmarket for specialist funds. The link at the end will take you to some more information about this. However, with investment in such things as oil prospecting, or loans to third world economies, although large gains can be made by investing there, the potential for large losses makes AIM investments high risk, in my view.
I'll be interested to know if any other contributors have additional thoughts on this interesting question.
Look at this link: http://www.londonstockexchange.com/companies-and-advisors/aim/aim/aim.htm
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Other investments which might be thought of alternative could include direct purchase of artworks, or fine whisky, for example, but these are certainly not low risk. There is a market known as the Alternative Investment Market (or AIM) which a stockmarket for specialist funds. The link at the end will take you to some more information about this. However, with investment in such things as oil prospecting, or loans to third world economies, although large gains can be made by investing there, the potential for large losses makes AIM investments high risk, in my view.
I'll be interested to know if any other contributors have additional thoughts on this interesting question.
Look at this link: http://www.londonstockexchange.com/companies-and-advisors/aim/aim/aim.htm
How long will the Bank of England keep the bank rate at 0.5% given inflation is at 3.3% and the target is 2.0%?
- poshjosh asked 2 years ago in Investments
- See all 4 answers | report abuse
Expert Financial Adviser Answer
D C
answered 2 years ago
Well now, a lot of people would like to know the answer to that question! There is still a view that what are known as the 'leading indicators' of inflation still point to a lessening in inflation but, as I am sure you know, the Bank of England has predicted this lessening for some time, and it hasn't happened yet.
I think that most people share the view that bank rates will remain low for some time to come. With unemployment increasing, house prices insecure and the 'recovery' at best uncertain, there are many factors other than inflation that will give those who want to raise base rate food for thought. If there are rises on the horizon, I believe that those rises are likely to be modest, and slow - but of course I could be very wrong.
It is wise not to defer savings for too long, because you never get back lost time. And it is also wise not to take too much heed of the short-term, nor to try to spot the 'right time' to make an investment decision. Rather, develop your plans with sufficient flexibility to meet changing conditions; if you think that conditions will change, avoid tying yourself into a product that will penalise you (by, for example, loss of interest) if you choose to go elsewhere.
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I think that most people share the view that bank rates will remain low for some time to come. With unemployment increasing, house prices insecure and the 'recovery' at best uncertain, there are many factors other than inflation that will give those who want to raise base rate food for thought. If there are rises on the horizon, I believe that those rises are likely to be modest, and slow - but of course I could be very wrong.
It is wise not to defer savings for too long, because you never get back lost time. And it is also wise not to take too much heed of the short-term, nor to try to spot the 'right time' to make an investment decision. Rather, develop your plans with sufficient flexibility to meet changing conditions; if you think that conditions will change, avoid tying yourself into a product that will penalise you (by, for example, loss of interest) if you choose to go elsewhere.
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