Investor Snapshot - Suzy Walls, LawDeb Head of Business Development

What was your first experience of investing? 

I’d always been very aware of the world of investing, growing up with a paternal grandfather who was a Scottish bank manager in Glasgow and my father an FD/latterly CFO FTSE100. I grew up abroad – Peru, Belgium, Italy, Brazil – aware through conversations amongst the ‘grown ups’ about my parents’ commitment whilst away to keep a foothold on the UK property ladder. My priority upon starting to make my own way was therefore to get myself onto the property ladder asap, which I did, putting my deposit down on my first flat in London in my mid-20s. So pleased I took that leap, which was terrifying at the time. Investing for me has always been a long-term commitment too, perhaps back to my cautious Scottish grandfather’s influence! I’ve never been tempted to ‘play the markets’, even with a fun fund! Keep my fun fund for travelling (& eating!)

Has there been a person or resource you have found most helpful in your investment journey?

Being a long-term holder of direct equities in a wider portfolio of investments has over time required work to diversify ‘appropriately’, as well as support to actively consider how my risk appetite and tolerance(s) might change/evolve. I have therefore, since my 30s, relied on expert advice. As someone once put it to me, you wouldn’t attempt to tile your own bathroom would you Suzy? So why wouldn't you source the right support, external resources and paid for expertise when it comes to your investment journey. Wise words! 

In context of investing for retirement, I was the 20-year-old rolling my eyes at my father every time he chanted the ‘put money into your pension’ mantra, which he did very regularly. When my Mum died, he savvily ‘made’ my brother and I set ‘Sheila’ monies aside into a private pension – thanks Dad!

What has been the riskiest investment you have made, or considered? 

I’ve been bruised by having positions in banking stocks historically! Legacy positions, back to Grampa in the bank and loving that sector!! Plays in to my diversification point above and having investments reviewed regularly, whilst being invested for the long(er) term. As a result whilst I’m comfortable still taking quite a bit of risk in my investment account – given I’m early 50s, I’m still working, I am committed to investing for the long term and I’m reassured my investments are actively managed for me - I am uber committed to having an entirely accessible cash cushion at all times, irrespective of rates. I am I think what my investment advisers would consider a cash hoarder, and I work hard to challenge myself to ensure I’m trying to strike a sensible balance – I’m better at it some years than others, sort of depends what’s going on wider and where we stand as a family in terms of other commitments!

Have you had any investments that have performed extremely well or extremely poorly? If yes, what were they?

My London properties - I went on to buy the flat beneath my original flat a few years later - have performed well, so I’m very glad I took the plunge, that said capital gains tax and / or IHT implications will be next on my list to work through. My husband and I live in Northern Ireland now, where we’ve made other investments in property. Provided not too leveraged in the NI market, those have performed well too. 

What’s next for your investing journey?  

I’ve been focused for a good number of years on ensuring I’ve maximised my contributions into my pension. I was lucky to benefit early from an Investment Banking pension and one of the interesting pieces of work most recently has been in reviewing all my pensions – I had a few! – and amalgamating where it made sense. Turns out my IB pension needs to standalone, certain protected benefits – who knew? It was a good exercise to undertake to understand, as Claer Barrett put it at our LawDeb WIN* event on Pensions, my own retirement ‘buffet’. I should of course have put in more, earlier to my pensions but you live and learn – this is where my father will be rolling his eyes! I’m also very focused on encouraging my children – now 19 and 14 – to consider investing, they both have savings accounts and JISA/ISAs which they know all about. Luckily for them with a grandfather who was so very pensions focused, they already have pensions set up and running on account of Grandpa!

What would you tell your 20-something self about investing? 

Find someone you trust to discuss it with, whether they are a professional investor or not but definitely don’t make any big decisions on hunches or a mate’s advice, do your diligence!

You’re right to commit to buying your home early – if you have to give up on other bits for a while to service that mortgage, do it!

Review your outgoings and be comfortable that you’ve enough to cover those and are saving a bit every month – it adds up – BUT don’t do a Suzy and be happy having access to a cash balance that isn’t working it’s hardest for you everyday.

Consider it all in the round, investing isn’t just about your investment account in isolation, or your ISA commitments or your pension contributions – take a multi lens at it!

Thank you Suzy. To read other recent Investor Snapshots click on the posts below. 
 
This interview is for information only and it is not investment advice. It is for use in the United Kingdom only. Investments and/or investment services may not be suitable for all investors. Capital is at risk and past performance is not an indicator of future performance.