Adam Lockwood's Linkedin Analytics

The highest form of wealth is the ability to wake up every morning and say, "I can do whatever I want today” without the worry of breaking the bank. We all want to become wealthier to make ourselves happier, but defining happiness is not a simple process and varies dramatically from one individual to the next. One common denominator, however, is that we all want control. The ability to do what you want, when you want, with who you want, for as long as you want, is priceless. It is the most valuable dividend that money can pay. The goal with each of my clients is to understand drivers behind personal definitions of happiness and link these to achievable, and trackable, financial goals. Examples of these goals include the following: - Retiring with sufficient funds for desired lifestyle, - Retiring early, - Helping children fund education and/or home purchases, - Defining a clear long-term financial plan to provide reassurance, - Simplifying affairs so everything is managed centrally, - Managing tax better to ensure funds can be directed to established long-term aspirations, - Reducing any IHT burden on their family. Every family has different objectives; monetary amounts vary, as do earnings and order of priorities. The answer to “how much is enough?” therefore varies dramatically. For a financial plan to be impactful it must be bespoke to each individual’s set of goals. Once constructed, this plan should then be reviewed regularly to ensure it continues to meet objectives, whilst ensuring it remains in line with risk tolerances set at the outset. Success as an investor is determined by how you respond to punctuated moments of terror, not the years spent on cruise control. An investing genius is the man or woman who can do the average thing when all those around them are going crazy. The job of a great financial planner is to ensure that no rash decisions are made in these times of terror, whilst re-enforcing the importance of sticking with the plan to achieve your defined goals for happiness. The value of your investment can go down as well as up. You could get back less than you invested. Taxation Rules can change at any time and are dependent on individual circumstances. Lockwood Wealth Ltd is an Appointed Representative of and represents only St. James's Place Wealth Management plc (which is authorised and regulated by the Financial Conduct Authority). The titles 'Partner' and 'Partner Practice' are marketing terms used to describe St. James's Place representatives. SJP Approved 01/09/2023