I have now retired the redundancy payment has been received, I have also received the lump sum from my pension scheme and the final payment from work including holiday pay. So what do I need to do with it?


I now have this chunk of money to spend but the problem is I don’t have an end date. In all the business planning I have done in the past I have evaluated cost and benefit over a given period but its difficult now because when am I going to stop needing money, basically how long am I going to live and even this is confused because it not only applies to me but also to my wife.


The financial advisor now becomes a necessity.

I made an appointment to see my bank’s advisor who discussed Annuity rates at me, Investment returns, Mortality expectation Government Securities, Redemption Yields, Hedge Funds, Tax Planning, Asset Allocation, Investment risk, Boring Annuities or exciting drawdowns, Private Equity investment etc. and suggested I should consider ISAs and some stock options. He offered me no notes and asked me to return within three months with my conclusions. I had no idea what he was talking about after three minutes.
But fortunately I had recently had some dealing with the Nationwide Building Society in Hull so along I go to see Briony who tells me about her Dad who lives in France and the surprise party she is organizing for him with her Aunts. We discuss the food she is baking, where she is having the party, the family album she has put together, my own family who live in the Bahamas and how nice that must be, when we are next going to see them and how excited we are. Oh and in amongst all that we discuss my financial requirements in language I understand and she comes to the same conclusions as the bank guy but she gives me copies of the notes she made and asks me back the next week when she will present the proposal. I go back the next week find out the party was a great success and talk about her upcoming holiday in Australia, we also look at the presentation, agree with most things, made a couple of adjustments and I am now sorted. Absolutely brilliant a dose of fresh air in a mine field. Thanks Briony you made a difficult job very simple. I recommend anyone to give her a visit and I will visit you soon to see how your Dad’s getting on and to update my financial position.


Now that money's sorted I need to do something with my time.