Without proper retirement planning, you can be faced with a significant cut in your income at retirement, requiring dramatic changes to the lifestyle to which you have become accustomed.
Motor vehicle insurance has various elements including property damage coverage, liability coverage including coverage for the death or injury of a third party, collision coverage and comprehensive coverage.
Everyone needs a financial plan for their life, from those with ten dollars to those with ten million. Life takes money – whether you plan or not.
Choosing the right insurance company for you is one of the most critical steps in managing your insurable risks. It means asking all of the right questions and thoroughly investigating your options.
Debt affords us the opportunity to benefit from things that we may not be able to purchase in the short term, such as a home.
Investing requires the trade-off of present income (consumption) for future income (consumption).
A popular myth is that estate planning is only for the rich among us. However, any one who has property and wishes for a future generation will need estate planning.
Credit, like a knife, is neither good nor bad – it depends on the use to which it is put.
You will need 4 to 10 times the amount you paid for your house to enjoy a comfortable retirement.
Diversification is the process of helping reduce risk by investing in several different types of individual funds or securities and works hand in hand with asset allocation.
Using a broker doesn't cost you more. Often it can cost you less because brokers have knowledge of the insurance market and the ability to negotiate competitive premiums on your behalf.
Your broker works for you – not for the insurance company.
Estate planning can have a lasting impact on your family – though not as much as not doing it.
Building net worth over a lifetime requires prudent planning and the implementation of sound strategies. Insurance is an important element of any sound financial plan.
Maintaining your quality of life after the diagnosis of a critical illness and dealing with financial commitments can cause hardship for you and your families. Critical illness insurance can protect your family's future.
Michael Lashley is the founder of Lashley Financial and General Services Inc, a company that specialises in providing personal financial services, employee benefits, business advisory, education and training services.
Michael Lashley holds a Bachelor of Science Degree in Electrical Engineering from the University of the West Indies at St. Augustine. He is a certified professional engineer and also holds a Certificate in Energy Management from the University of the West Indies, Mona.
Mr. Lashley has a Master of Business Administration degree with Distinction from Warwick Business School (Full Time programme). He also holds a Fellowship of the Life Management Institute, with Distinction.
Over his career, he has attended numerous other courses and has qualifications in:
He is a Barbados Exhibition winner and a Commonwealth Scholar.
He has over 25 years experience in management, with over 15 years as a Senior Manager and Chief Executive. He has significant experience in financial services, having worked as a Vice President with Sagicor and a Director with FirstCaribbean.
For more than 10 years, he has developed and delivered programmes in business strategy, personal finance and retirement planning. Lashley Financial has also developed a comprehensive financial planning process and tool, that provides detailed personal financial analyses, scenarios and projections for its clients. Lashley Financial continues to build its business mainly through personal referrals and recommendations from its existing clients.
Since establishing Lashley Financial in 2006, Mr. Lashley has delivered customised presentations, seminars and workshops in Personal Finance, Employee Benefits, Retirement Planning, Strategic Management, Business Planning, The Role of Pension Trustees, The Impact of the Financial Crisis and on Income Taxes. He has delivered seminars and programmes in Barbados, Trinidad, St. Lucia, Antigua, St. Vincent, Aruba, Curacao, Belize, Miami, St. Maarten, St. Kitts and Dominica. In addition, he has done financial, debt, retirement and redundancy counseling for a number of individuals and employees of major companies in Barbados.
He has also worked in employee benefits, strategy, business planning, pensions governance, marketing organisation and business development with a number of leading companies including Cable and Wireless, Sagicor, UWI Cave Hill, Williams Industries, Banks Holdings, BS&T, BS&T Employees' Credit Union, Butterfield Bank, RBTT Bank, The Nation and DutyFree Caribbean. He has provided training to Pension Trustees in Barbados and in St. Lucia and to insurance and financial advisors across the region. With the changes in pensions legislation and regulation in Barbados, he has completed the Retirement Provision Certificate with the UK-based Pensions Management Institute. He has also completed The UK Pension Regulator's Trustee Certificate.
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More than you want and less than you need
Often, in the seminars and workshops we do, we are asked about the purchase of whole life insurance vs buying term life.
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