Where do I even start?  

Where do I even start

Are you just starting out? Earning a living and planning your future? Do you get bombarded with a myriad of financial products and know you should get started on saving but have no idea where to begin? For sound financial advice read on…….. 

Here at Middleton Private Capital we are all huge fans of the Steven Bartlett podcast ‘diary of a CEO’. Seriously it’s a tea and biscuits moment – we discuss each and every interview! 

At the end of last year the public figure ‘Molly Mae’ had her Steven Bartlett moment in a rare interview.  What struck us most about the insights given during her 90 minutes is not only her stratospheric rise into the public eye and the HUGE influence she can have on brand power, but also that just like every other 22 year old she was navigating many of the pressures of understanding the financial landscape.  Click here to listen to this podcast. 

Hitting 22 many young entrepreneurs or graduates are starting out in their first businesses or jobs and are faced with some stark realities: 

  • Get a mortgage 
  • Investments 
  • Saving for the future 
  • Cost of living 

These subjects may have sat on a horizon of adult ‘must do’s’ which a young person has never had to navigate before, then you arrive in a world where you have a salary, your company may already have a pension fund set up which you may or may not opt into, you may have started up a business which quickly gains traction and makes a lot of financial gains with no idea how to wisely manage your capital, you may have BIG plans to retire at 30 and need to understand how on earth to get there. 

It is reassuring to hear even from the mouth of Molly Mae (rumoured to be worth £2m and counting) that she found herself with capital but with no understanding about where on earth to start to make wise decisions. 

Where is a good place to start to learn? 

  1. Getting good advice is important and will influence the path forward, we recommend you speak to a variety of industry experts, from domestic banks to financial service advisors to investment management professionals like ourselves. This will give you a rounded view of what options are out there and what you feel comfortable with. 
  2. Listen to recommendations.  It is easy to be blindsided by glossy marketing campaigns with financial promises which seem too good to be true (they often are). 
  3. Do your research – check out the fees which are charged to have investments in place, what are you being charged for an expert to manage your money can have a big impact on the success of investments. Why not try out our fees and charges calculator?
  4. Don’t be put off by the term ‘Wealth Manager’ – you may think – I don’t have enough money to work with a wealth manager, and in some cases you are right – larger banks often set a minimum figure for investment before they will work with a client.  With smaller private wealth managers there is a lot more scope for flexibility.  

What Molly Mae states so eloquently is ‘if I don’t know – I just ask’ – here’s the rub – so many younger people are nervous to ask for fear of loosing face or feeling like they ‘should have known’ something.  The truth is that the people that ask know. 

If you are just starting out and would like some sound impartial financial advice, get in touch for a free 30 minute consultation with leading investment manager Ian Clarke – it could be the best investment of TIME you will ever make.  

Click here to book an appointment.  

 P.S Thank you to Steven Bartlett for your fantastic podcast and to Molly Mae – we can’t wait to see what you do next.  

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