Topic: Uncategorised

Managing Time

As a family we enjoy holidaying in Spain, and I am always struck by the difference in perspectives on how we live in the UK and how the Spanish live. The fact that that most Spanish shops close between 2p.m. and 5 p.m. so that people can have lunch and recharge, rather than staying open and making money is very much different to our own culture.

The towns and cities slowly come to life as couples, families and friends emerge onto the streets for their evening paseo; the daily ritual of catching up by taking a stroll, having some snacks or perhaps doing a little shopping. These routines appear to make little sense amid the bustle of our modern world, but it is nonetheless an interesting lens from which to view how we help clients live their best lives.

Allocating time is as important as allocating money.  Besides money, time is another major limited resource in life, yet very few of us approach managing this aspect of our lives using the same discipline with which we manage our money.

As financial advisers we take great pride in helping clients allocate their investments as efficiently as possible but, imagine if we helped people think about how their money could get them to use their time better.

There’s scientific evidence that using money to give people more time can make them happier too. In August 2017, researchers at Harvard published a paper after studying the spending habits of more than 6,000 people in the US, Canada, Denmark and the Netherlands.[1]

They found that: “Despite rising incomes, people around the world are feeling increasingly pressed for time, undermining well-being. We show that the time famine of modern life can be reduced by using money to buy time. Surveys of large, diverse samples from four countries reveal that spending money on time-saving services is linked to greater life satisfaction. To establish causality, we show that working adults report greater happiness after spending money on a time-saving purchase than on a material purchase. This research reveals a previously unexamined route from wealth to well-being: spending money to buy free time.”

None of us dispute that one of the cornerstones to living richly is spending our limited time on the things we really care about. However, many of our discussions with clients focus on the wrong goals. So, what can we do about it?

  1. Helping people prudently spend is as valuable as helping them prudently save. Of course, as advisors we are rightly focused on ensuring that people don’t run out of money. However, there is usually a trade-off between time and money. Focusing too much on building the biggest nest egg possible sets the wrong goal for clients. Every pound saved might build more security, but it just as surely takes away from their life today. More money does nothing to improve your life if you don’t use it to improve your life along the way. Preventing clients from over-sacrificing today is as much a part of a great planner’s job as ensuring a financial plan works in the future.
  2. Priorities exist today that are as important as those in the future. Planners spend most of their time with working clients discussing their future and retirement, yet clients worry the most about prioritising all the trade-offs they have today. They want to be there for their families, find time and money for holidays, or make time in their schedules to exercise. We can help people make decisions to improve their lives immediately.   Rather than focusing solely on the longer term and sacrificing as much as possible for the future, it is important not to lose the opportunity to make trade-offs and add immediate value to people’s lives today.
  3. Discussing what really matters engages everybody. The biggest cost to our industry on spending so much time on maths and money is that it disengages the non-financial person.  Where we work with couples, that can often mean that one spouse is not involved in something that they should be making an integral part of their financial lives. By discussing time and how the money will support each person’s priorities, you connect to the universal truths we all care about.

Money might not grow on trees, but time doesn’t grow at all. One of the consequences of having a country that encourages siestas and two-hour lunches is that Spain is one of the least financially successful economies in Europe. Yet you can’t help but notice that their focus on living and enjoying their time, instead of working and making more money, has a meaningful impact on the quality of their lives.

For each of us and our clients, the balance lies somewhere in between. Our job is to help our clients live at their ideal place on that spectrum of trade-offs.

[1] https://www.pnas.org/content/114/32/8523

 

With Compliments to Marie Kondo …

This blog is based on one that I read recently from a US blog site Sightings Over 60 which is always an interesting read.

The Netflix show “Tidying Up with Marie Kondo” has become a phenomenon. Kondo has been around for a while. Her book The Life Changing Magic of Tidying Up was released in 2014 and climbed the bestseller lists. She followed that book with Spark Joy, which tells us, according to the New York Times, that “you can own as much or as little as you like, as long as every possession brings you true joy.”

To be honest, I have not read her books, nor have I seen her show, but having had the opportunity to declutter when moving to a new house, one thing I do know is that decluttering is not a one-time event; it’s an ongoing process.

If you are retired and the kids have left home it is highly likely that you no longer need all that stuff filling up the garage, loft and wardrobes.  Yet decluttering can be a big job with one rule of thumb suggesting that you allow an eight-hour day of decluttering for each year you’ve lived in your house!  But unless you want a bad back and sore knees, you probably shouldn’t try to do it all at once.

So, here are some steps you can take to declutter … with a nod to Marie Kondo for making cleaning up cool.

  1. Warn your children. If the children have left home, invite them to look through your house and take what they want. Then insist that they remove any and all of their own materials – the boxes of old school items, the stuffed animals, trophies from sports tournaments, souvenirs from holidays, etc..
  2. Have a heart-to-heart with your spouse. Most relationships, it seems, consist of one hoarder and one simplifier. To avoid working at cross purposes, you need to sit down and talk things through – so one person isn’t throwing something away while the other is retrieving things out of the bin. The hoarder must realise that many things — VHS tapes, a record player, old sports equipment — are outdated or can be easily replaced. The simplifier must admit that some things have sentimental value and can’t be replaced. So, let’s not be like the dysfunctional politicians. We need to realise that there can be emotional issues involved in the process … and be ready to compromise
  3. Sort one space at a time. It’s easy to get bogged down if you do a little of this, and a little of that. So start small. Clean out a wardrobe, then a bathroom, then one of the kid’s bedrooms. The hardest jobs will be your own bedroom, the loft, and the kitchen.
  4. Touch something once; make a decision. As you go through your old clothes, old books, or old furniture, for each item decide whether you need to keep it or get rid of it. The key to making progress is to make the decision. If you need one suit, then decide which one to keep and get rid of the others. Try not to hmm and ah, change your mind, or postpone the decision – or that one day per year could turn out to be two or three days per year. Or, the decluttering may never get done.
  5. Make five piles. Keep. Sell. Gift. Recycle. Bin. Decide what you want to keep and put that in one pile. The rest goes into one of the other four piles. But try to decide right away – you can give it to someone; you can sell it, recycle it or throw it away. But don’t waste too much time deciding – just choose a pile. If you make a “mistake” and throw away something that maybe you could sell or give to charity – be realistic, you probably wouldn’t have sold it for much money anyway, and the charity wouldn’t have either.
  6. Take pictures. The hardest decision are the emotional ones. But if you can’t bear to get rid of something you need to get rid of, then take a picture. The special dress? Put it on, take a picture, then give it away. The shelf of trophies, the wonderful old oriental rug that will never fit into your new place – take a picture and keep it with you always.  Then make sure to send copies of those photos to your kids.
  7. Books. Marie Kondo has caught some flak for suggesting we keep no more than 30 books in our homes. My own opinion is that books are like albums and CDs, or tapes and DVDs. Keep them around, if they bring you “joy.” But it’s not the books themselves that are important. It’s what’s inside — the information, the characters, the stories and those are all readily available from the library or the internet.
  8. Hire a professional. For most people, decluttering is a do-it-yourself project – and they would have it no other way – perhaps with some help from kids or a best friend. But sometimes the job might just be too big; or you’re too overwhelmed by the prospect. There are professionals who will help you.

So, here’s to many ‘happy hours’ decluttering … or at least planning to.

Is there a better alternative to Inheritance Tax?

Inheritance Tax is enormously unpopular to say the least. A YouGov poll found that 59% of the public deemed it unfair, making it the least popular of Britain’s 11 major taxes. What’s more, the tax has a limited revenue raising ability, with the ‘well advised’ often using gifts, trusts, business property relief and agricultural relief to avoid paying so much.

As it stands, the tax affects just 4% of British estates and contributes only 77p of every £100 of total taxation. This puts the tax in the awkward position of being both highly unpopular and raising very little revenue. Currently the inheritance tax threshold stands at £325,000 per person. Anything above this is subject to a 40% tax (unless you leave everything above the threshold to your spouse, civil partner or charity).

If you own your own home and are leaving it your children (including adopted, foster or stepchildren) or grandchildren and your estate is worth less than £2 million, this can lift the threshold by an additional £125,000 in the 2018-19 tax year (the nil-rate band), to £450,000.

Inheritance Tax is seen as unfair for several reasons, the main one being because it is a tax on giving (while normal taxes apply to earnings) and it is a ‘double tax’ on people who have already earned – and been taxed on – their wealth.

In its report¹ dated May 2018 , The Resolution Foundation; a prominent independent think tank, set out an alternative. They proposed abolishing Inheritance Tax and replacing it with a Lifetime Receipts Tax.

This would see individuals given a Lifetime Receipts Allowance which would allow them to receive tax free gifts through their lifetime up to a set threshold. They would then have to pay tax on any gifts they received that exceeded this threshold. The thinktank suggests that by setting a lifetime limit of £125,000 and then applying tax at 20% up to £500,000 and 30% after that, this would be both a fairer system and harder to avoid. It would also encourage individuals to spread their wealth wider.

They predict that a lifetime receipts tax would raise an extra £5 billion by 2021, bringing in £11 billion rather than the £6 billion inheritance tax currently raises. In a time of mounting pressure on public services like the NHS, this additional revenue would be welcomed by many.

The Lifetime Receipts Allowance would also remove many of the current ways of managing the amount of assets an individual is taxed on upon death. For instance, people would not be able to reduce the size of their taxable estate by giving away liquid assets seven years prior to their death.

The Resolution Foundation also suggests tightening up on existing reliefs such as Business Property Relief, Agricultural Relief, the treatment of inherited pensions and the forgiveness of Capital Gains Tax at death to reduce the scope for tax avoidance.

The Lifetime Receipts Tax is only a think tank recommendation and is not being considered by the government but for the reasons stated … it could have legs.

¹https://www.resolutionfoundation.org/app/uploads/2018/05/IC-inheritance-tax.pdf 

Warning
The information provided is based upon the authors understanding of taxation and legislation at the time of writing.  Any level and bases of, and reliefs from taxation are subject to change.

10 Things That are Good for Us

I read various blogs and articles over the weekend and one grabbed my attention, so I thought I would share some of the content with you … and add a little of my own.

Most days (and particularly at this time of year) the media can confuse us with information about activities, foods, drinks, supplements and other things that are supposedly good or bad for us.  The article I read focused on the following things that are good for us – 

  1. Breakfast. Many people skip breakfast (I am not one of them as Nicky, my partner, will testify). A good breakfast gives you energy and keeps you away from the mid-morning biscuit(s). Eating breakfast is associated with maintain a healthy weight, reducing the risk of heart disease and diabetes, and better concentration and memory. 
  1. Saunas and hot tubs. I have often toyed with the idea of having a sauna installed at home as they can make you feel good and apparently there are health benefits as well. According to the Mayo Clinic, they can improve cardiovascular function and lower blood pressure and relieve symptoms of arthritis, headache and flu.
  1. Organic foods. I know that many of us are sceptical about the benefits of organic food, (especially me as a short-armed Yorkshireman) and particularly because they are more expensive. Science says that organic food, despite the price, are better for you as have more nutrients, less toxins and fewer pesticides.
  1. A sceptical attitude. Now I thought I would score high here, but I maybe verging on being more cynical than sceptical. However, as part of the ‘me’ going forwards I will look at the facts and evidence before believing in something. Sceptics are less likely to fall for the next best thing be it a fad diet, trendy quick fix or cure all. They are also less likely to believe that everything will work out fine and so they take measures to improve their outlook for the future by exercising, eating properly, driving safely and avoiding health risks.
  1. Physical contact. Being physically close, holding hands and giving backrubs all tend to reduce physical pain and this is not something the ladies have simply dreamt up. It was in fact the conclusion from research undertaken by the University of Colorado Boulder whereby 22 couples took part. The women were subjected to mild pain (I guess this would have been equivalent to extreme pain for a man), first when they were holding hands and then when they were sitting together but not touching. The women reported significantly less pain when they were holding hands but not when they were sitting together.  Maybe we could give that a try at the Manchester United matches ….
  1. Herbs and spices. This is definitely something I firmly agree with – any excuse to eat a good curry. Herbs and spices are full of healthy compounds that reduce inflammation and additional flavours that lead us to use less sugar salt and fat in our foods. There is a long list of benefits but here are a few of my favourites (note the curry theme again). Chilli’s boost metabolism and keep blood vessels healthy. Cumin can help weight loss, Cinnamon can help reduce inflammation. Garlic reduces cholesterol and blood pressure. Turmeric may improve memory and help ease pain.
  1. Move. I heard a doctor use the phrase “motion is the best lotion”. It is important to exercise and I’m sure we all know the benefits, so no need for to expand on this one.
  1. Passion and purpose. It is hugely beneficial to have an interest and a passion for things such as a pastime, voluntary work or even continuing to work. We have found that those who fill their time with their passions tend to lead a more fulfilling and healthy life.
  1. Coffee… and tea. Coffee perks you up and tea helps you relax according to WebMD. Coffee may help stave off Alzheimer’s and Parkinson’s, diabetes and liver disease and the recurrence of colon cancer and tea boosts the immune system, lowers blood pressure and cholesterol.
  1. Sleep. According to a study from Northwestern University, people who are night owls are at risk of developing health problems, including diabetes and neurological disorders. But it seems the crux of the issue is sleep deprivation, which affects not just your physical well-being, but cognitive performance as well. But don’t be complacent if you sleep a lot; sleeping too much is associated with the same health risks as sleeping too little. So how much is the right amount? Apparently somewhere between 7 – 9 hours is about right.

So, if you agree with the experts on things that are good for us, here we have an ‘ideal’ healthy day: –

Wake up with a sceptical attitude, have a healthy organic breakfast with a coffee then off to work or to follow your passion.  Return home, enjoy a cuddle or go for a walk holding hands, followed by a sauna or sit in a hot tub with a cup of tea. Then feast on an organic curry, spend time doing something you enjoy before retiring to bed at a reasonable time.

 

 

Merry Christmas

We would like to wish you all a very Merry Christmas and a Happy New Year and also thank you for your support over the last 12 months.

The office will close at 5pm on  Friday 21st December 2018 and will re-open at 9am on Wednesday 3rd January 2019.

As in previous years, in lieu of sending Christmas cards, this year we have donated to Shelter UK and Alzheimer’s Society

 

The Return of the Rise in Probate Fees

Back in 2017 we covered the proposed rise in probate fees which was subsequently abandoned when the general election was called.  The current probate fee is a flat fee of £215 or £155 if the probate application is made via a solicitor.

In November 2018, the Government brought before Parliament proposed legislation which if approved, will introduce a new banded structure of fees, tiered according to the size of the deceased’s estate as set out below: –

·         Up to £50,000:                        no charge

·         £50,000- £300,000:                  £250

·         £300,000- £500,000:               £750

·         £500,000 to £1m:                    £2,500

·         £1m to £1.6m:                         £4,000

·         £1.6m- £2m:                             £5,000

·         Above £2m:                              £6,000.

Whilst there are significant increases for the larger estates, (although not up to as much as the £20,000 previously proposed), it is estimated that 80% of estates will not pay more than £750 and fewer estates will be liable because the probate fee threshold will rise from £5,000 to £50,000 which should exempt about 25,000 estates every year. The additional income raised, estimated to be £145m, is to be invested in the Courts and Tribunal Service and will be used to fund improvements to the Probate Service. This includes the ability to apply for a grant of probate online. Interestingly, a separate statutory instrument has been issued to introduce this online application process and will lead to an administrative cost per application of only £9.30.

However, as the probate process is broadly similar regardless of the size of the estate, it could be argued that the new fees represent a stealth tax on property as property is normally the main constituent of the estate. Indeed, a House of Lords committee has reiterated this and is concerned that the proposals will lead to a move away from ‘the principle that fees for a public service should recover the cost of providing it and no more’. Executors may find themselves having to find the required fees themselves where estates are relatively illiquid, while professional executors may raise their fees to cover this.

Charities will also be adversely affected as they are not exempt from probate fees. It is estimated that they could lose about £10m a year of legacy income and so there will be lobbying for a relevant exemption to be introduced.

The Government are hoping to have the legislation through Parliament by April next year and if it is agreed, it will clearly be important to ensure that funds are available to your executors to pay the fees.  This can be easier said than done and particularly as these have to be paid before any of the assets can be distributed.  This is something that we can discuss during our meetings and incorporate into your financial plan.

 

 

 

 

If You’re Retired; Do You Have to Travel?

A lot of people I meet say that they want to travel when they retire, so I was quite interested to read a blog I came across recently covering this point. The article touched on the fact that it almost seems as if travel is a prerequisite for a fulfilling retirement, like it’s part of the package of the successful middle-class retirement lifestyle. Individuals say, I’ve been to China and India, or walked the El Camino de Santiago, and chartered a river boat down the Rhine.

But for some people, travel is not a priority and they don’t really want to travel all that much. And when they do travel, they stay close to home. Does that make them a failure at retirement? Do people feel sorry for them, because they don’t have the imagination or the curiosity to want to visit strange, foreign lands or can’t afford to travel?

Some people do not like to fly; there’s getting to the airport, then the crowds and the process of being herded through security and corralled into a narrow aluminium tube flown by a stranger.

Many may have travelled around Europe in their younger days or maybe even the Far East, but that was when they didn’t mind sharing a bathroom with random strangers. It didn’t faze them to arrive in a city and not know where they would be sleeping that night and didn’t mind struggling to communicate with people in a different language.

To retirees who like to travel, their sense of adventure must be admired. But those that don’t shouldn’t feel that they are missing something by not liking to travel, or that they are somehow cheating themselves in their retirement years. Travel is one thing to do in retirement; but it’s not the only thing, and it’s not something we should feel required to “check off” in order to fulfil our retirement dreams.

Besides, there’s plenty to see, even if you never travel more than a couple of hundred miles from home and to some people, sharing great experiences with family and friends or pastimes within their community are just as rewarding.

So, No, you don’t have to travel in retirement. For some, retirement can indeed be fun without it.

Autumn Budget 2018

Philip Hammond, the Chancellor of the Exchequer, delivered his third Budget to Parliament on 29 October 2018 and what should be the last one before Brexit in March next year. What should you take away from this year’s Chancellor’s Autumn Budget 2018?

Mr Hammond opened the Budget by declaring it was aimed at hard-working families, ‘the strivers, the grafters and the carers’, and would pave the way for a ‘brighter future’. He set out the Government’s plan to build a stronger, more prosperous economy, building on the Spring Statement and last year’s Budget.

A number of measures and consultations were announced which perhaps demonstrate a loosening of the fiscal purse strings. However, the Chancellor concluded that although austerity is coming to an end, discipline will remain.  As well as the tax cuts and increased departmental spending, the Chancellor announced one-off bonuses for defence, schools and local authorities.

There were no widespread announcements around pensions tax relief. There had been rumours that the Chancellor may look to introduce a flat-rate of tax relief, but in the end there were only more minor changes to the pensions landscape.

From a tax perspective, there is a short-term tax giveaway for the next couple of years to encourage consumer and business spending whilst the process of a Brexit deal is worked through.

Individual taxpayers will benefit from the increase in the personal allowance to £12,500 and the higher-rate threshold to £50,000 from April 2019. However, the self-employed will continue to pay Class 2 NICs.

Businesses will also benefit from a two-year increase in the annual investment allowance to £1m, which allows an upfront tax deduction for capital expenditure on plant and machinery.

The Chancellor left us with a warning that if the financial forecast was adversely impacted by the Brexit negotiations, then next year’s Spring Statement could be upgraded to a full Budget.

Click here to read our full Autumn Budget 2018 Guide.

As pensions, savings and estate planning were largely untouched, now is an opportune time to make the most of valuable tax allowances, reliefs and exemptions that already exist – especially as this could be a short-term window of opportunity, with only months to go to Brexit.

To review what action you may need to take to keep your personal and business plans on track, or if you have any further questions, please contact us.

4 Ways to Feel More “At Home” in Your Home

Do you feel “at home” in your home?

Your home is often the biggest financial purchase you’ll ever make. But is it also giving you the emotional payoffs you hope for?

Your home is an important part of your financial plan because we have to consider your rent or mortgage, utility bills, maintenance, and taxes as part of your monthly and long-term financial picture. But to get the best life possible with the money you have, your home should also be a safe place that makes you feel comfortable and relaxed.

Here are four things to consider when trying to make your residence feel more like home.

Your personal touches.

In this age of social media and free two-day delivery, it’s never been more tempting to get sucked into “Keeping up with the Joneses.” But if you’re always trying to surpass you neighbour’s latest big splurge, you won’t be creating a space that’s truly yours. You’ll just be buying a copy of someone else’s idea of home.

Forget about the celebrity Instagram boards, and instead think about how to make your house reflect your family’s passions and stories. Turn an unused bedroom into a workshop or personal study. Bring those old family photo boxes down to a framer and breathe new life into your walls. Brighten up shelves with mementos from favorite trips.

If you’re considering additions or garden amenities, try thinking about these changes in terms of the experiences they can create for you and your loved ones. Sure, a hot tub sounds nice. But a new patio and some green space might be a more versatile and welcoming environment for family gettogethers. Upgrading your kitchen might allow your inner master chef to blossom into a truly talented cook.

Your personal comfort.

Sometimes less flashy upgrades to your living space have the biggest impact. A brand-new mattress isn’t as exciting as a garden hot tub, but you’re certainly not going to spend 8 hours every day soaking!

If you’ve been sleeping in the same bed and siting on the same settee for close to a decade, do some furniture shopping. Get some new pillows and sheets, or an ergonomic computer chair. These improvements aren’t just cosmetic – they’ll help you rest better and feel better.

Many of us also live with little quirks that have a negative impact on how we feel about our homes: that room that doesn’t get warm enough in the winter, a leaky sink, a living room with enough lighting for TV but not enough to read by, that cupboard under the stairs that’s going to explode someday. Minor household repairs and good old-fashioned spring cleaning can bring some welcome calm to the clutter we all accumulate.

Your personal geography.

Real estate pros like to say the three most important qualities in a home are: location, location, location. But the perfect spot for your first home might not be the perfect place to get married, raise a family, and start your own business. Once your kids move out of the house and have families of their own, your feelings about where you live might change yet again.

Your home city might become more or less appealing to you over time as well. Beloved businesses and restaurants close. New establishments take their place. Friends come and go. The cost of living can fluctuate.

If your community no longer provides you the same comfort, activities, social circle, and engagement that it once did, it might be time to consider a move. This could be another reason to explore buying a second home for extended weekends closer to your family or vacations that allow you to explore your passions.

Your personal journey.

As your life changes, your experience of home will change along with it, especially as retirement nears. The big family home might become a difficult empty nest for you and your spouse to maintain as you age. The familiar comforts of home might start to create a restless sort of discomfort. You might feel drawn to new places, new people, and new experiences to keep your golden years fresh and stimulating.

Or, like more and more retirees, you might decide that your current home truly is where your heart is. You might “retire in place” and give your current home some TLC that will prepare it for the next phase of your life.

So what does “home” mean to you? We are happy for you talk to us about creating a financial plan that will provide you with as much comfort as your favourite reading chair.

 

 

 

Giving: How to Do The Most Good Without Disrupting Your Financial Plan

Many studies have shown that charitable giving provides greater happiness than buying more stuff. Eventually, you get used to your fancy new car, and the level of  enjoyment it provides goes down. But giving forges feelings of connectedness and community that don’t fade away.

Incorporating charitable giving into your financial plan is a great way to make sure that your generosity is aligned with the things that are most important to you. Some forethought about these key issues will also make sure that your good intentions don’t throw off the rest of your own long-term planning:

  1. Have a purpose.

The most effective charitable giving is thoughtful and intentional. It may be helpful for you and your spouse to ask yourselves some questions that will narrow your focus, such as:

  • Do we want to give to a national or local cause?
  • Are there pressing issues in our community that we feel we can help impact?
  • Do we have any personal connections to causes, such as medical research or support for the arts?
  • Do we want to support friends or family by contributing to causes that impact their lives or fulfill their passions?
  • Do we want to support a religious organisation, such as our church?
  • Are our charitable impulses motivated by on-going problems, such as education or homelessness, or would we rather position ourselves to react to events such as natural disasters?
  1. Do your homework.

Once you’ve settled on a cause, do some research on potential recipients. Visit the local charity you’d like to support and meet with its leadership team. Is the organisation running itself responsibly? Are there good, competent people in charge? Will these people get the job done? Don’t sink your money into a well-intentioned black hole.

If you’re looking to give to a national organisation, keep in mind that even some of the biggest names have come under fire lately from watchdog groups for misusing donations. Make sure you’re giving to an organisation that’s doing what it says it’s going to do with your money.

Also, remember that big organisations – even charities – must manage things like overheads, salaries, and insurance. Are you happy supporting the organisation itself? If you want to see your money in action more visibly, you might be happier giving locally.

  1. Beware the internet.

Whenever something bad happens in the world, our inboxes and social media are flooded with donation links. Read before you click. Be especially wary of crowd-funded campaigns on sites like GoFundMe. The cause may sound worthy, but these sites do not provide meaningful oversight on every campaign. Your money could be going to a cause, or it could be going straight into a scam artist’s pocket. You’ll never know