Income or Lump Sum? The Life Plan Conundrum
Effective wealth management is about many things but it can perhaps be boiled down to two essential elements: protection and (or) growth.
Whether you prefer to emphasise protection or growth will depend largely on your circumstances, goals, and attitude to risk. One part of this is determining whether you want your investments to create the security of income or the flexibility and reinvestment potential of a lump sum.
Investors are typically split around 50-50 on this question, which is why it is no surprise to learn of a recent Aegon survey of 1,300 investors which found that 58% preferred insurance plans to pay monthly income rather than a lump sum at maturity.
Navigating the Future: Six Pivotal UK Pension Changes in 2024
Cayman Islands Wealth Management: Financial Prosperity for Expatriates
The Cayman Islands or “Cayman” consists of three islands; Grand Cayman, Little Cayman and Cayman Brac. They remained mostly uninhabited until the 17th century. The earliest settlors consisted of pirates, refugees, “lost at sea” sailors and migrants from other neighboring islands. In 1670, England gained control of the islands which remains a British Overseas Territory to this day.
China’s Investment In Cayman Islands Financial Services Sector Continues
The Cayman Islands has signalled its intention to invite greater Chinese investment opportunities following recent corporate events in Asia in which Cayman Finance CEO Jude Scott spoke about the potential for increasing collaboration.
While attending events in Shanghai, Beijing and Hong Kong, Scott, whose organisation is charged with protecting, promoting and developing the Cayman Islands' financial services industry "through cooperation and engagement with domestic and international political leaders, regulators, organisations and media", spoke of how The Cayman Islands could use their status in the wealth management industry to benefit Chinese investment.