EP124: How Paul Green’s steady approach to savings and investment created a retirement he could look forward to
“Many people reach the age of 50 having been on a treadmill of career and families and they're faced with this realisation…they need to take responsibility for themselves as they move into the last period of their working life…If they don't, they may face a retirement…which could be less comfortable than they had in mind.”
Paul Green came from a conservative background where money wasn't something that people talked about. As he went through life, he realised it’s one of the key things to get right. Heading into retirement himself and shocked by how little people knew on the subject, Paul founded Over50sMoney to help people sort out their finances as they prepare to enjoy their retirement.
In this show you’ll hear about:
How Over50sMoney came about
People’s expectations of their retirement
Your home as a potential retirement pot
The social care conundrum
The importance of cashflow management for the day to day expenses
Supporting your children financially and leaving money to them when you die.
“I use an investment adviser. The original reason was that when we first had enough money to invest at a significant scale I was fully active in work. The adviser brings a lot of other advantages. He looks at things that I probably wouldn't. Because we've worked with him now for 12 years, he understands where we are in our lives... I certainly don't believe that I would invest as wisely if I hadn't had my guy on the case for many years.”
Paul did experience a short period when money was tight early in his entrepreneur journey. Now, however, thanks to years of diligent savings their only concern is for the wellbeing of their children and how much or little to support them.
“Like all parents the thing that you're always concerned about [is] your children. We have three bright young adults ranging from the early twenties to the late twenties… You have this whole debate about how much help you should give them on whether or not giving them support is helping them benefit themselves a little more. I don't think that's an easy question to get the correct answer to.”
When not walking along the beach in the picturesque south west, Paul can be found on Facebook at Over50sMoney and the website.
Nicole Bremner is an investor and podcaster. After a successful decade building a multi-million property portfolio in London, Nicole was forced by a number of external obstacles to stop, take stock and figure out what really matters in life.
