Category: News

Could you face a pension shortfall?

13.05.2019

One in three middle-aged Brits is set to retire on the State Pension alone and many more face a shortfall in their pension. It could leave a significant gap between expectations and reality. If you’re not sure what income your pension could deliver in retirement, checking sooner rather than later gives you an opportunity to plug the gap. Based on the spending habits of those that are already retired, Nationwide estimates that those retiring in...

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Inheritance Tax is on the rise: Seven ways to mitigate the bill

13.05.2019

When estate planning, Inheritance Tax (IHT) can be a concern. Naturally, you want to leave as much as possible to your loved ones and ensure they’re not stressed about paying a bill at what is already a difficult time. Luckily, there are usually many ways you can reduce the IHT your estate will be liable for. Despite this, IHT receipts are rising. For the tax year 2018/19, HM Revenue and Customs (HMRC) collected an additional £160 million in...

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Weighing up the pros and cons of different Pension Freedom options

13.05.2019

Retirees are increasingly concerned about their money running out. With more responsibility placed in the hands of the individual, around how, when and how much income they’ll withdraw from their pension, it’s no surprise. Pension Freedoms were introduced in 2015 with the aim of giving retirees more flexibility in how they used their retirement savings. The changes reflect a shift in retirement. In the past, many retirees followed a fairly...

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The pros and cons of choosing a longer mortgage term

16.04.2019

With property prices rising and many young adults struggling to get on the property ladder, mortgage lengths are increasing. More mortgage products that allow homebuyers to spread repayments over a 40-year period are on the rise. It can be an effective way to reduce outgoings each month, but it does come at a cost. Research from Moneyfacts found that over half of all residential mortgage products have a standard maximum mortgage term of up to 40...

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Six alternatives to borrowing from the Bank of Mum and Dad

16.04.2019

It's well known that first-time buyers are struggling to get on the property ladder. One of the biggest hurdles is pulling together the deposit needed to secure a mortgage. As a result, it's not surprising that more aspiring homeowners are turning to parents for financial support. According to Which?, nearly one in four potential first-time buyers are relying on the Bank of Mum and Dad to fund their mortgage deposit and get on the property ladder....

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Calculating your investment risk profile

16.04.2019

The investment market has been experiencing volatility lately and it may mean you're considering whether your current risk profile is still appropriate. All investments carry some risk but there are numerous different risk profiles to consider; what's right for one person can be very different from another. Calculating the level of risk you can afford to take with your investments can be complex, there are numerous different factors to consider,...

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Protecting your money from inappropriate investment products

16.04.2019

It’s natural to want your hard-earned savings to grow as much as possible. However, as the saying goes ‘if something seems too good to be true, it probably is’. When we hear about people losing their life savings, it’s often related to scams and fraudsters. However, recent headlines show that getting sucked into inappropriate products can be just as dangerous. The case of London Capital & Finance Over the last few weeks, you may have...

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Pension changes to be aware of for the 2019/20 tax year

16.04.2019

As the start of a new tax year begins, it’s often a time to consider how your financial plan is shaping up and ensuring it’s still relevant for aspirations and goals. You may be thinking about how you’ll use your ISA (Individual Savings Account) allowance this year or how to make the most of investable assets. One key area you should be considering is your pension. As you plan for retirement, there are three important changes to keep in mind...

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Your guide to purchasing an Annuity

16.04.2019

Are you thinking about purchasing an Annuity to fund your retirement lifestyle? It’s crucial to understand the product and shop around for the best deal as research suggests that many retirees could secure a better income. An Annuity is a way of creating a guaranteed income throughout retirement if you have a Defined Contribution (DC) pension. Should you decide it’s the right option, the money accumulated in your pension is used to purchase an...

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Planning for your golden years: New experiences top priorities

16.04.2019

In the past, retirement may have been associated with slowing down and taking it easy. But that's no longer the case. Thousands of retirees are looking forward to giving up work to enjoy an exciting pace of life and gain new experiences. With more freedom and choice than ever before, it's becoming more important to plan carefully for the retirement you want. When Pension Freedoms were introduced in 2015, those approaching retirement age were given...

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