Category: News

Is an inheritance important to your financial plan?

06.06.2019

As we make financial plans, it’s often necessary to make some assumptions. Perhaps you’ve factored in a few pay rises before retirement or calculated what investments can expect to return. But research indicates some people could be relying on receiving an inheritance with little information about it to reach their aspirations. If you’re expecting to receive an inheritance, it can be tempting to build it into your financial plan. Maybe you...

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How to make sure your pension lasts a lifetime

06.06.2019

Thousands of retirees are shunning Annuities when they reach retirement age. Instead, they’re taking advantage of the opportunity to access their pension savings flexibly. It can be a fantastic way to match your income and lifestyle, but figures suggest many are withdrawing unsustainable amounts. There are many benefits to taking your pension flexibly. However, you need to keep in mind that you’ll be in control of when withdrawals are made and...

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Using your home to fund retirement

13.05.2019

When planning for retirement, it often means bringing together different income streams to suit you; rarely is your retirement income just from your pension. You might also be considering how to use your savings and investments, for example. One way to boost income in retirement that’s growing in popularity is through using property. It’s easy to see why; property prices have increased significantly over the last few decades. For many...

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The challenges of balancing different goal timeframes

13.05.2019

When you think about financial and lifestyle goals, there are probably several, each with a different timeframe. Juggling them and weighing up your priorities can be challenging. Should you focus on paying off your mortgage quickly now, or saving into a pension for retirement that’s still many years away? With conflicting goals, it can be difficult to have confidence in your finances and long-term financial stability. When you start thinking...

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Asset classes: What you need to know

13.05.2019

When you’re saving for the future, one of the key questions to answer is where you’ll place the money. Should you invest? If you do, what type of investment is right for you? It can be difficult to decide what to do and one of the first places to get started is to get to grips with the different asset classes. First, though, what is an asset class? It’s the term used to describe a group of securities or investments that are financially...

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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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