I caught up with a very successful friend of mine this week. She sold a big chunk in her business a year ago, clearing >£10m of cash. She has been meaning to decide what to do with the funds but has been too busy / fearful / etc to decide. So the money has been sitting in cash in her bank account. But she told me today that she’d decided to go with a Swiss Bank and use them to open an offshore bond, putting £5m into it.
I sighed, rolled my eyes, and generally acted in a not-very-empathetic manner. Then I asked her to consider taking £1m of her £5m, doing a simple Do-It-Yourself approach instead, and comparing the difference over a few years. She asked me to drop her an email with some details. So today I sent her an email, which I reproduce below. Please note that this is not financial advice, just encouragement.
Any comments/improvements would be very welcome. For reference, Jane lives and works in the UK, has several kids, and has a husband who works in the public sector. Jane has a net worth of at least £20m.
To: Jane
From: FvL
As promised here is what I would encourage (note – not advise) you to consider as you deploy your funds.
Continue reading “Teachable moments, offshore bonds & Swiss Banks”
FIRE v London 