Handy household hints Ask the Expert... She bakes, she makes, she decorates – frankly there’s nothing our very own domestic goddess Rachel doesn’t know. Every month she’ll be passing on some of her favourite money and time saving tips...
investments advice with julie wilson
Independent Financial Advisors
• If you want to get a really good shine on your mirror, try giving it a polish with newspaper. It’s an old fashioned remedy, but it really works! • Lemons are the domestic goddess’ best friend. If you’ve squeezed a lemon for cooking, try putting the remains in the dishwasher to keep it smelling fresh (remember to take it out before you next put the dishwasher on!) • Talking of lemons...half a lemon or some bicarbonate of soda in your fridge will help keep bad smells at bay. • Do you have limescale in your kettle? No need to invest in expensive descaling products – just put a cup of white vinegar to the water in your kettle, bring to the boil and leave overnight. In the morning rinse thoroughly. • My knives have gone a bit rusty looking – caused, so I’m told, by too much salt in my dishwasher. But I discovered a genius product
I was reading an article the other day by a well respected financial journalist – Nic Cicutti – about the different types of adviser. This is what he had to say (I’ve cut it down a bit otherwise there’d be no room left for me to say anything!): “Over the years, I have come across a range of adviser “types” within the IFA community. Three of the most common are the Doctor, the Hi-Fi Salesman and the Teacher.
from Barnitt’s – Bar Keeper’s Friend! It’s a non abrasive powder that’s absolutely brilliant for cleaning off tough stains – it brought my cutlery up a treat! • Remove burnt on food from a pyrex dish by soaking it in hot water with a denture cleaning tablet it in. Well, if it works on false teeth... • Stainless steel looks great but it can quickly get marked with fingerprints. To keep yours looking showroom smart, try applying a thin coating of baby oil after you’ve cleaned it. It will keep your steel shiny and smudge free!
The Doctor is the person you go to with a problem and he then offers a solution. You are not required to know what the solution really is, just that he has found the right one for you. The disadvantage is that the minute things go wrong, he or she will realise they have not got a clue what the Doctor was doing, which is when the problems start. The Hi-Fi Salesman is a different kettle of fish. He (it always is a he) knows everything there is to know about Blu-ray, home cinema packages, subwoofers, multi-channel power amps, processors and music servers. The only slight problem is that you do not understand a word of what he is saying and take it on trust that what he is recommending will actually work for you. The Teacher is the one who not only wants to sort out your finances, but also wants you to know why he or she is doing it, what the consequences are and how it could work in your favour. Of the three, I would rather have a Teacher talking to me than a Doctor or a Hi-Fi Salesman. I am not just expecting him or her to sort out my finances and investments. I want someone who will have a dialogue with me, who will explain and educate, who will rein in some of my wilder flights of fancy about an investment idea I picked up in the Sunday newspaper. Here at Pen-Life we see our advisers’ role very much as “teachers”. Many aspects of financial advice and tax planning are quite complex, but that does not mean we shouldn’t try and explain them and how they can help you achieve your goals. Take some of the less common financial solutions – Venture Capital Trusts (30% tax relief, tax free dividends, tax free gains), Enterprise Investment Schemes (30% tax relief, tax free gains, Inheritance Tax free after 2 years) and Business Property Relief Schemes (Inheritance Tax free after 2 years), are dismissed by many people – advisers and individuals alike - for being too complex and risky. But what if I told you there was an investment where you get a 30% discount, and the potential to save Inheritance Tax (40%) which is much lower risk than you would expect? Now wouldn’t that be worth learning about? If you feel you would benefit from a no-obligation chat about your own circumstances, one of our advisers would be more than happy to meet you – at our expense – for an exploratory discussion.
n Pen-Life Chartered Financial Planners, Equinox House, Clifton Park, York YO30 5PA Tel: 01904 661140; Fax: 01904 466206; Email: Julie@pen-life.co.uk; www.pen-life.co.uk Julie Wilson is a Fellow of the Personal Finance Society and Director of Pen-Life Associates Ltd, Chartered Financial Planners, who help individuals and small businesses make the most from their money including advice on residential and commercial mortgages and equity release, individual and business protection, pensions and retirement planning, savings, investments, tax planning, Inheritance Tax and long term care.
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