I’m British but my wife is a US citizen, resident in the UK. Her remuneration and pension are in dollars and the bulk of her assets are in the US, whilst mine are in the UK. We were both heading for retirement and had this mixed bag of pensions, assets and investments in two countries – we kept asking ourselves, how on earth can we jointly plan around that?
Luckily, a friend gave us a recommendation - we had a meeting with Mike initially and ended up becoming clients of Magus.
In essence, Magus have enabled us to have a simple, clear, cohesive picture of our financial situation today, tomorrow and the day after. They’ve taken the ‘pots’ in both the UK and the US and advised us how to structure these to give us the income we require, as tax-efficiently and ultimately as inheritance-efficiently as possible. They’ve also given us a much better handle on our assets in both the UK and US.
And if we want to introduce a new variable, like ‘we’re thinking of selling X’ or ‘we’re considering handing some funds to the offspring’, they tell us what impact and implications any move will have.
It’s exactly what we needed - I don’t understand money and it gives me a headache. I want to hire someone I can trust and can delegate to, who will give us a simple layman’s summary of whether to do something or not.
We are now looked after by Sharon, who is excellent, buttoned down and good at communicating with us. She gives clear, simple advice – ‘do this’, ‘do this after April 5th’, ‘don’t do this ever’. She shows us if it will make a dent on our financial graph so we can see what it’s wise to do – or not to do.
What I feel is relief. Money has increasing importance as you become retired – it’s all under control now with Magus. It’s the confidence of knowing where we stand at any point in time and that we can take informed decisions, knowing not only where we stand but what those decisions will mean for us.
With our money under control, we’re just getting on with life. We travel a fair amount. We are skiers. I am a manic fly fisherman. When in or around London we like culture, theatre and exhibitions. Our grandchildren in London & Sussex keep us pretty busy.
We like what Magus has done for us – and spending our time like this is the end result we wanted.