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O What you want from your investments – do you need the income or can you afford to receive less income but perhaps concentrate on ensuring the long term capital growth of your portfolio. Now is the time to think about your investment policy and ensure it meets your needs
O When did you last meet with your investment managers? If investments are one of your institute’s key assets you should be talking to them quarterly, being open with them and asking their advice. The quality of that advice will depend on what you tell them about your future plans and needs. It is essential that investment managers understand your needs and that they are in a position
to act in your best interests at all times. But in order to do this, investment managers need to understand your circumstances if they are to help you to make the right decisions over the
next few years
O Will there come a time when you need to realise investments because you will need the cash – have you worked out when this is likely to be? Have you told your investment managers?
IN THE YEARS AHEAD THE KEY FINANCIAL COMMITMENT FOR RELIGIOUS INSTITUTES WILL BE THE COST OF CARING FOR THEIR OWN MEMBERS. WHAT ARE THE KEY FINANCIAL IMPLICATIONS ASSOCIATED WITH CARING FOR OLDER AND FRAIL MEMBERS?
It is clear that most religious institutes in Great Britain are faced with the problem that their members are becoming increasingly older and few new vocations are arising. It is clear also that the cost of care is rising and will continue to do so. The most signi cant nancial commitment that most religious institute charities have at the current time is that of ensuring they
are able to care for and look after their members for the remainder of their lives. This commitment is impossible to predict accurately although certain assumptions can be made to help quantify the potential liability. The existence of such a commitment is the aspect that separates religious institute charities from almost all other types of charity and it is the reason why most religious institute charities should have a very carefully drafted reserves policy (see later in this chapter).
As people become older they increasingly need more care and assistance, both in helping them with general domestic chores that they would previously
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