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MONEY with


- Rich, Comfortable or Aspiring To Be?

April - May 2019

For some, an inheritance is the only time they acquire a sizeable amount of wealth. For others, there will be little chance of an inheritance because of little family wealth or the cost of providing long term care.
Others win a fortune

For the majority, a big win is unlikely and an inheritance not a life changing sum, there is only the option of self accumulation. 


Try a free Pension
Starting a pension at an early age with a reasonable amount is always to be encouraged especially given that employers add to it and the government give tax relief. 

A 5% matched contribution can mean a basic rate tax payer has a net 4% contribution for a 10% fund. 
That’s an immediate 150% growth with no risk to you and then by the time you allow for the 25% tax free return, your 4% becomes 1 ½%, for a 7 ½% return without risk, that’s a 500% return. 

Add to that, growth of say 4% a year, and £100 becomes £250 by retirement for FREE!

£40 one off investment = £100 with tax relief and employer contribution
£100 @ 4% for 40 years = £480
Take off £40 original contribution = £440 FOR FREE


Keeping a car for an extra year or more can save the difference in depreciation between the new car and old. 


I am only on my second car in 12 years and this has saved me a fortune in depreciation or loan repayments.

Investing in ISA’s for spare funds can give a better return than keeping too much in a current account with zero interest. 

Saving for things rather than taking loans (unless zero interest) is also a way of saving; and simply managing on less.

Over the years I have met a lot of people who have more month left than salary, but many of these smoked, had a regular drink and sky/virgin tv etc. 


Accumulating Wealth
Saving a little and often for a long time is the best way to accumulate wealth, but I know how difficult it can be with mortgages and school fees, and how long the mortgages are now compared to my time. But with interest rates at 2% for the last 10 years I think the 8% average which peaked at 15% meant that we didn’t have it easy. 


People today have a different expectation of life and much of this I applaud because it is important to enjoy life, but enjoyment doesn’t have to cost a lot, a bit of chalk for the pavements or a den in the garden cost nothing, and I was just as happy as kids today who have a mobile phone and an IPad.


Planning Ahead
Whatever your age, young or old it is never too late to look at what you want and to plan.


Be that accumulating wealth, managing it for later, spending it or gifting it away. At Beacon we meet people at every stage of their life; and whilst most of my clients are near or in retirement, we don’t ignore those that are serious about their future.

Often my clients have accumulated wealth over 40+ years of work and are naturally reluctant to do anything but save it, but a sensible conversation can lead to a realisation of what is and is not important to them now and in the future.


What Do You Want From Money?
Having money isn’t everything, but it certainly helps provide opportunity and choice. At Beacon we can provide all the assistance you are likely to need in planning, but help you discover what you really want, as the Spice Girls said “what you really, really want”.


If you are unsure or simply want assistance, call us. If the advice is around pensions all of our Advisers and researchers hold the Advanced Pension Qualification, something that is very important to you, and we have two Chartered Wealth Managers and several holders of the Investment Managers Certificate, which is equally important if you want to put your investments in the hands of someone who will manage them for you.

Tony Larkins

Further Details:
Should you require financial assistance for pensions, savings, investments, mortgages, protection, long term care, employee benefits... contact the team at Beacon Wealth Management Ltd. 



Tel: 01480 869466

Facebook: /BeaconWealthManagement

Twitter: /BeaconWealthIFA


The Old Chapel, Thrapston Road,

Kimbolton, Cambridgeshire, PE28 0HW