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I rarely get the chance to go shopping but two weeks
last Saturday I found the time to spend two hours in the Carnaby Street
area of London to find something to wear for the weekend. I was
walking from one busy outlet to another when I noticed a definite increase
in the type of gay men that my boyfriend and I call HVQ's. These High
Velocity Queens move at high speed between Compton, Oxford, Regent and
Carnaby Street locations with more than a sense of urgency. They pose
a physical threat to anyone intent on stepping in their way. Their mission
in mind, they strut with purpose and strength with an uncompromising list
of purchases to complete. This self indulgent list can include underpants,
jewellery, compact discs, and of course the purchase of that all important
new frock for the weekend. The trail of destruction weaves its way all
through the West End, invariably culminating at the gym, unless it started
there.
The economy has enjoyed a period of steady 'prudent'
growth that is adding to the feeling of wealth. Interest rates have been
steadier than you and I can remember which in turn gives us more money
to spend. There has never been so much disposable income to buy ourselves
self indulgent gifts and presents.
The amount of money in our pocket has created an upturn
in activity in the housing market and is currently fuelling house price
increases. More of my clients are considering purchasing their own property.
Don't get me wrong, these recent increases in our lifestyles are warmly
welcome and I like the idea of being able to spend money on myself and
my boyfriend. 
I want you to stop and think for a moment. Think about
if things were maybe a little different. Imagine if you were stuck at
home struggling to pay the bills, with barely enough money to pay for
your food let alone an expensive shopping trip in the West End. Forget
all of those fancy underpants, necklaces, rings and frocks. Your priorities
would soon change.
I know what you're saying, "make hay while the
sun shines". I'll think about these issues when they happen, or even,
"it won't happen to me". We don't like to think about these
things of course. Admittedly recession is something that we all can do
little about as it normally hits so hard and so fast when it comes. But
what if the recession was self imposed? What if there were some financial
affects that could be guarded against? What if, for a small investment
now, you could safeguard your future for tomorrow?
I'm talking about accidents, long term or even critical
illness. How many of you have got mortgages or loans and how would you
pay for them in these events? When I make a recommendation for a mortgage,
I always recommend some form of cover for the eventualities of sickness
and/or accident. For a few extra pounds each month it can be worth investing
in.
You could adopt the foresight to take some form of protection
that will allow you to keep your independence. If you were to protect
against losing your income I'm not going to guarantee a lifestyle fit
for a king. But maybe you'll still be able to live as a queen!
Two of the most common ways of protecting yourself or
your mortgage are with Permanent Health Insurance (PHI) and Critical illness
(CI).
PHI is aimed at providing long term accident and illness
protection in the event of you not being able to do your own kind of work.
This is normally designed to pay a percentage of your salary tax free
and commences payment to you after a deferred period of 2,3,6 or
12 months. dependent on your needs. This will commonly continue until
retirement if need be.
CI is designed to provide a lump sum benefit should
you suffer one of a long list of specified serious illnesses, such as
cancer, MS, stroke and heart attack. The definitions of these illnesses
can vary widely and it would be advisable to speak to a gay independent
financial adviser. The lump sum is again paid tax free upon diagnosis.
If you were to recover, the insuring company does not expect its money
returned.
Applying for these types of cover can present the familiar
personal questions that gay men get asked when taking life cover. I advise
that you speak to one of the growing number of financial companies specialising
in gay advice. They will be able to advise on avoiding these tick box
questionnaires and also identify cover at the most cost effective premium.
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