Hosted by Brigitte Rupp, our Financial Adviser for France, there was an art exhibition of selected contemporary works provided by Galerie Oscar and some great talks. David Miller, from Quilter Cheviot, discussed Investing in 2016; Andy McKay, from IDAD, spoke about Securing Growth in all Market Conditions; and Tony van Vuuren, of Acces International, gave a talk on Monaco, the Ultimate Tax Haven. The BFMI Director, Paul Brown, gave a brief overview of The Blacktower Group services available.
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In a world where our financial stability impacts almost every aspect of our daily lives, it is more important than ever to preserve what we have worked so hard to achieve. Unless you’re lucky enough to win the lottery, most of us have worked hard and for a very long time to achieve financial security and the lifestyle we want for ourselves and our families in retirement.
We all remember Robert Maxwell and the Mirror Group pension scandal in the early 90s when innocent working people woke up to the horror that their pension contributions had been used to subsidise his failing empire. The same happened when “Sir” Philip Green sold BHS for £1 in 2015, and this confirmed that even some of the biggest household names cannot be trusted with our retirement funds and financial future.
Many British pensioners enjoy healthy private pensions or have built up substantial savings that more than meet their day to day living needs. It is not surprising then to learn that about one in ten elects to gift part of their savings to their grandchildren, with average gifts amounting to £15,000 according to a survey by OneFamily.