If you’re nearing retirement, how you access your pension is an important decision. One of your options may be to purchase an annuity to create a regular income. This useful guide explains what you need to know to assess if an annuity could be right for you.
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While you might associate needing a Lasting Power of Attorney with the elderly, ill health and accidents could occur at any age. Naming someone you trust to act on your behalf if you’re unable to make decisions could provide vital protection.
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Relationship breakdowns could lead to assets you’ve gifted to your child remaining with their ex-partner. In some circumstances, there may be steps you can take to ensure a gift stays in the family.
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Moving into the decumulation phase of retirement planning can present some challenges. As well as understanding how to effectively manage depleting your assets, you may find you need to adjust your mindset too.
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The end of the 2023/24 tax year is just weeks away. With many allowances resetting, here are seven you might want to review your use of before 5 April 2024 to potentially reduce tax liability and help your money go further.
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A survey suggests millions of pension savers have never updated their contributions, investment choices, or target retirement date. It could mean they’re missing out on potential pension growth, leaving their retirement less secure.
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In 2023/24, your pension Annual Allowance is up to £60,000 compared to £40,000 in the previous tax year. If you haven’t reviewed whether it could be worthwhile to increase your contributions following the rise, read this article to discover why it could be financially savvy.
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If you’re planning your retirement, one of the first questions you might want to consider is: how will you retire? A phased approach could help you strike a work-life balance that suits you and might offer other benefits too.
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NHS waiting lists are at a record high. Unsurprisingly, people are worried about how long they’d have to wait if they need medical attention. There are some steps you could take as part of your financial plan to create security if you fall ill.
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Have you considered contributing to your child’s pension? As the money would usually be invested over a long time frame, it has the potential to grow significantly and have a positive effect on your child’s long-term financial security.
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The number of people exceeding the pension Annual Allowance increased by nearly 20% in 2021/22 when compared to a year earlier. It could mean more pension savers face an unexpected charge. Find out what you need to know about the Annual Allowance here.
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Jeremy Hunt has delivered the 2023 Autumn Statement. Here’s everything you need to know about the chancellor’s announcements and what they mean for you.
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Your home may be one of the largest assets you own and could play an important role in funding your later years. If you want to learn more about equity release, including the pros and cons, this useful guide could be perfect for you.
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While taking an unusual approach to succession planning worked in the novel Charlie and the Chocolate Factory, a survey suggests more than a third of businesses could place their legacy at risk by overlooking their long-term plan.
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A record number of people are celebrating their 100th birthday. In fact, over a century, the number of centenarians increased 127-fold. Rising longevity means thinking about the long term, as making financial decisions could become even more important.
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If you’re planning to retire in 2024, there are some practical steps you could take now. Setting out what you’re looking forward to and how you’ll create an income before the milestone may mean you’re able to give up work with confidence and fully enjoy your retirement.
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Tempted by high deposit rates?
Your financial adviser will have told you how much cash to keep in the bank for day-to-day and rainy-day needs, but the best potential for your cash comes from your investment portfolio, not deposits as we shall examine in further detail throughout this article.
Deposit rates seem attractive, but they aren’t in real terms….
Current interest rates might seem like an exception, but they’re not…
Putting cash into term deposits may cost you in terms of returns more than you think, if you try to time your entry to an investment portfolio….
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Overview
July was another buoyant month for global stock markets, which were mainly in positive territory. The broad US market, as represented by the S&P 500, is now up over 20% in local currency terms year to date (although, for sterling-based investors, this return was dampened by around 6% due to a resurgence in the pound). The standout market was China, with locally traded A shares up around 6% in sterling terms. This followed announcements by communist party officials there that they would be taking steps to stimulate the economy (albeit short in detail of what these steps might be).
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