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  • Dan Gaskin

Can you have too much money?

Updated: Mar 31

Don't laugh...it's a serious question.


Believe it or not, it is actually possible to have too much money.


You see, life is not a dress rehearsal and you definitely cannot take your money with you. It's important to ensure that you provide for yourself and those you love and care about. It's also equally important to enjoy the fruits of your labours.


So how much is enough?


Well, its entirely subjective and different for everyone.


You need enough to maintain your current lifestyle as well as do those things that you have always wanted to do. You may even need some more if you choose to raise your standard of living across the board. After that, you shouldn't need much surplus - you can have some fun with it.


When you have a lot of excess money, there will likely be inheritance tax issues for your loved ones no matter how carefully you plan. Remember, the Government will take 40% of anything above the nil rate band. After a certain point, you're giving a lot of money to the Exchequer.


Also, (and I would argue more importantly), if you die with a ton of cash, it means that you didn't do things in life that you could have done! You could have gone on another holiday every year, or bought that yacht you always fancied. Or that Lamborghini. Maybe you could have gifted money early to your family when they needed it - only you didn't know you could at the time. Think of the tax you could have saved!


So, yes, it's possible to die with too much money. That is why we spend a lot of time helping clients to shelter their wealth and ensure that they pass on their wealth as efficiently as possible....and enjoy it to its maximum.





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