These articles help you understand your financial needs and aspirations
Welcome to our September/October 2023 edition. In this issue, we look at investment bonds and explain how they offer several benefits that some investors may be missing out on, which have become even more beneficial due to recent changes in tax regulations. This follows last November’s Budget and the Chancellor’s decision to reduce the Capital Gains Tax (CGT) Allowance from £12,000 to £6,000 this year and to £3,000 in April 2024. This is likely to increase the appeal of investment bonds for some investors who want to minimise Inheritance Tax (IHT) liabilities when passing on wealth.
Preserving wealth for future generations
Starting estate planning early and implementing it in stages is desirable
Will you make the right decisions around your pension pot?
Why defined contribution pensions are even more appealing for wealth transfer
Building a reliable income stream for your golden years
Make sure you maximise your retirement income through annuity shopping
How bonds' structure and tax advantages can help you pass on wealth
Missing out on unclaimed money that could be in your pocket?
£1.3 billion pension tax relief unclaimed by pension savers over a five-year period
Saving for the next generation
Taking proactive steps in securing your child’s or grandchild’s financial future
Money and divorce
Untangling your finances and navigating the financial aspects of divorce
Greater flexibility in accessing your pension funds
Cost of care in later life
Choosing the best option for yourself or your loved ones
Retirement cash flow modelling
Assessing your current and projected wealth, income and expenses
Preparing the next generation to engage with their finances
How to help with money management and financial literacy
Key traits for successful wealth-building
Developing an investment strategy tailored to your goals
Macro trends impacting weddings in 2023
Main pressures are rising costs and unexpected expenses from suppliers
Retirement challenges faced by women
Nearly half of women aged 50-65 plan to continue working in some capacity after reaching the State Pension age
Do our later life dreams really become retirement reality?
Taking the necessary steps towards a fulfilling retirement
Gap in knowledge and uptake of Power of Attorney
Protecting individuals and facilitating smoother decision-making processes
Millions may have to rethink their retirement plans
More than one in ten have mortgage debt in the final decade before they retire
How much will I need to live on in retirement?
Planning for your life after work to ensure a financially secure future
How to reduce the impact of inflation on retirement income
During periods of economic uncertainty, it's advisable to reassess your retirement plan
Professional financial advice – where’s the value?
Making more informed decisions about money leads to better financial health in the long run
How to find or trace a lost pension
Total value of lost pension pots £26.6 billion in 2022
In this issue, a comfortable retirement is a common financial goal, and contributing to a pension is essential to achieving it. Although retirement may appear distant at the moment, there's much to consider. Let us assist you in navigating this crucial life milestone. By planning ahead and making smart decisions about your savings, you can ensure a stable and enjoyable retirement. On page 12, we consider what steps will help you get pension retirement ready.
Normal Minimum Pension Age update
Essential information for your retirement planning
10 reasons to get your tax return filed now
British workers overpay £8.2bn in tax due to wrong codes
Maximising your investments in your 50s
Time to evaluate whether you need to modify your objectives or saving strategies?
Responsible asset selection
Supporting responsible practices and contributing to a sustainable future
Getting retirement ready
Key steps to achieving a comfortable retirement
Tax relief matters
How to build a bigger pension pot
Building a diversified portfolio
What is it, and why is it important?
Are we entering an investment bond renaissance?
Exploring why they are an attractive option to mass-affluent investors
How to invest after retirement
Ensure your wealth is preserved for future generations
Protecting your children and securing their future
Our health, an invaluable asset, is often overlooked or taken for granted
Lump sum vs regular contributions!
Choosing the right pension payment strategy
Using your inheritance effectively
Making informed decisions about managing the funds wisely
The importance of understanding tax-free pension withdrawals
Many over-55s are unaware that they can access 25% of their pension pot tax-free
The Gender Pension Gap issue
73% of women make only minimum pension contributions, compared to 58% of men
Price of adulthood
Financial responsibilities increase significantly after 25
Saving for retirement
A decade-by-decade guide
Bonds vs equities
Where should income-seekers turn?
Should I delay my retirement?
Delaying retirement could boost your chances of a secure financial future
Investing mistakes to avoid
Errors can have long-lasting consequences, setting you back financially
Hidden impact of inflation on savings
A closer look at a financial understanding among Britons
Adjusting your investment portfolio with age
Is your asset allocation aligned with your risk tolerance?
In this issue, Chancellor Jeremy Hunt's first proper Budget 2023, on Wednesday 15 March, brought some welcome but unexpected changes to pension tax, the most significant of which was the abolition of the pension Lifetime Allowance (LTA) charge. Britons can now expect significant changes that will affect their retirement savings. On page 10 we consider how these changes could impact on your pension and secure your retirement plans.
Articles featured in this issue:
How much has the 2023/24 State Pension increased by?
Early bird investors
Does the early bird get the ISA worm?
More people choosing semi-retirement for a variety of reasons
Two in five over-55s plan to gradually phase out working life before State Pension age
Pensions of significant value
Welcome but unexpected changes to pension tax
Giving while living
What will your legacy look like?
Spring Budget 2023
How the changes affect pensions and taxes
Professional financial advice matters
Making informed decisions about how best to allocate your resources
I have a Will, so why do I need a Lasting Power of Attorney?
Making decisions in relation to your financial affairs, health and welfare
More than 24.5 million people are financially disengaged
Securing an income stream for the rest of your life
Deciding what to do with your pension fund can be a complex decision
Relying on an inheritance for future financial security
50% of British adults admit to having checked the value of their parents’ property
Will you have enough funds to cover your desired lifestyle after you stop working?
Principles of growing your money
Investing could help you beat inflation and build a nest egg for the future
Want to help give the younger generation a boost?
One in 12 grandparents use property wealth to support grandchildren
Passing on assets tax-efficiently
How to ensure that your wealth is preserved for future generations
Mind the State Pension gap
Knowing how much you’ll receive is vital for planning your future finances
Combining drawdown with an annuity
Enjoying a comfortable and sustainable retirement income that gives you the best of both worlds
Think of life insurance like a safety net
Make sure your dependents would have the money they’d need if you were no longer around
Gender pension gap
Gap in pension benefits between men and women widens
Building up more tax-free money in your pension
Changes present significant opportunities for various individuals
Time to give annuities another chance?
Nearly one million pre-retirees considering annuities
In this issue, financial planning can be a daunting and uncomfortable conversation for many, but thankfully attitudes towards talking about money are changing. Wealth succession should be an integral part of your financial plan as early as possible – because the right preparation now can have positive long-term impacts on future generations. On page 06, before you start this process, we consider the questions you need to ask.
Articles featured in this issue:
Goals don't just happen, you have to plan for them
How professional financial advice benefits both you and your family
Rising prices can wipe years off retirement pots
How to protect your pension income against inflationary pressures
Making the right preparation for future generations
Show me the money
Britons not researching their investments because it’s ‘time consuming’ and ‘complicated’
Time to retire?
Planning your finances to be sustainable for the long term is key
Critical illness cover, your questions answered
Protecting against the financial impact that a serious illness can cause
Your wealth. Your legacy
Giving retirement a second thought?
Over a third of over-55s think they will work beyond their State Pension age
Financial security and freedom
Rising prices add almost 20% to ‘minimum’ cost of retirement
Thinking about divorcing?
Protecting your assets and preparing you for going forward on your own
Cost of living crisis
Almost one in three over-55s’ mortgage repayment plans derailed
Money and finances are a common source of disagreement and stress
Cost averaging your investments
Reducing the risk of investing in volatile markets
Insurance that works while you can’t
2.5 million Britons lose at least £23,126 a year due to long-term illness
Retirement planning for every life stage
Alleviate any fear and uncertainty you might have about your financial future
Overwhelmed by your pension?
Almost half of UK consumers find pensions information daunting
7% of self-employed workers would choose to carry on working through illness or injury
7 out of 10 adults are puzzled by financial matters lingo
Ready to start investing for your grandchild’s future?
Drawdown, annuities or both?
Make sure your retirement strategy meets your needs and goals
With the current tax year having begun on 6 April 2022, the clock is ticking and it is important to utilise all the tax reliefs and allowances available to you before 5 April 2023 in order to minimise any potential liabilities. On page 08, we look at the way personal tax planning should be at the top of your agenda as the end of the current tax year is not too far away. Taking action now may give you the opportunity to take advantage of any remaining reliefs, allowances and exemptions.
Articles featured in this issue:
Chancellor retains State Pension triple lock
State Pension is set for a record-breaking increase from April 2023
Don't miss the ISA deadline
Use your tax-efficient allowance or lose it forever!
Pre-retirees starting their plans but will rising living costs halt their plans?
No ‘one-size-fits-all’ protection solution
Helping you feel confident your family’s finances are secure
Menopause in the workplace
Unique retirement planning challenges women face
Time for a tax health check?
Time to get your retirement plans in motion?
Three in five Britons feel stressed about later life planning
Tracing old and lost pensions
Nearly half of pension holders have lost track of some of their pension pots
Millennials willing to forgo inheritance
Harder to support bigger financial commitments of older generation parents
Feeling the pinch
Women more vulnerable to cost of living crisis
Major long-term ramifications for financial health and wellbeing
Show me the money
Choosing an investment style that best suits your needs
Ins and outs of CGT
Ways to potentially reduce your Capital Gains Tax liability
Planning to meet your goals
How advice can boost your financial wellbeing
What sort of lifestyle will you be able to afford?
How inflation could be impacting on your retirement plans
Impacts of climate change
Nearly two-thirds of people in the UK more concerned about climate change
A topic high up on the recruitment radar
Time to talk
Discussing Wills and trusts with adult children or dependents
Insurance that works while you can’t
Would you be able to carry on paying the bills using statutory sick pay or your savings?
As the cost of living continues to soar, with inflation reaching a 40-year high, the impact on household finances is taking its toll. But it is essential to try to maintain a savings habit even in the current climate. In our latest Newsletter we look at the impact breaks in pension contributions could mean to savers by missing out on thousands of pounds in future that will mean less income during retirement.
Articles featured in this issue:
Working 9 to 5
More over 65s are still working than six years ago
Pension saving revolution
Auto-enrolment: celebrating a decade that has encouraged a culture of saving
Investing for positive change
More investors align investments with personal values
Passing wealth down through the generations
Millions of retirees help out in cost of living crisis
Don’t abandon pension contributions as prices rise
Savers could miss out on thousands of pounds in retirement
Spotting an investment scam
How scammers are getting more convincing
What is the average UK retirement income?
How to maximise the value of pension savings
Mistakes to avoid when you’re aiming to build your pension pot
Doing the right thing for the planet
Four in five looking to change jobs demand green pensions
Balancing risk and returns
Bonds can play a key part in building an investment portfolio
Leaving a tax-efficient legacy
Considering the rule of seven when making financial gifts
Shrinking safety nets
More people set to dip into emergency funds
Increasing financial support for millennials
Cost of living crisis drives early inheritance gifting
Preparing your finances for retirement
Could market volatility and inflation mean you have to delay retirement?
Solving investor challenges
How to take less risk when investing
Reluctant to return
Millions want to stick with lockdown lifestyle changes
Welcome to our latest edition. Rising living costs have been so significant in recent months that most UK households will have noticed a squeeze on their monthly budgets. Not only does this have a direct impact on people’s lifestyles, even though they are making every effort to cut back, but it has a knock-on effect on their lifelong goals such as owning a home or retiring comfortably. On page 05 new research highlights millions of people across the UK fear that the long-term impact of today’s rising living costs could see their life goals delayed or even missed altogether.
Navigating the higher rate tax freeze
Minimising the impact on your personal finances
Great wealth transfer
Preparing both ‘the family’ and ‘the money’ for the transition of wealth to the next generation
Cash may not be king
Deciding whether to withdraw cash from your pension pot
Putting life on hold
Cost-of-living crisis delays homeownership, having children and retirement
Are you saving enough for retirement?
One in six over-55s have no pension savings yet
Bringing pensions together
What to consider if you have multiple pension pots
How to protect you and your family’s future
What kind of protection insurance do you need?
Inheritance Tax receipts reach £6.1bn
What if I could make my wealth more tax-efficient?
Bridging the gender pensions gap
Women left with half the pension pot, no matter the job
More over-50s returning to work amid cost-of-living crisis
Britons cutting back on food and entertainment to keep cars on the road
Funding the lifestyle you want
Get your retirement plans in motion
It’s good to talk
More young adults are more engaged about money with their parents than past generations
A healthier approach to retirement wealth
Pension schemes have a critical role to play in the transition to a net zero economy
Health, wealth and happiness of a nation
Overall wellbeing still not close to being back to levels seen pre-COVID
Ten tips for first-time investors
Ready to get started on your investment journey?
When should I stop working?
How to tell whether you’re ready to retire
Never too early to plan ahead
Pension savers struggling to save enough for their later years
Bank of grandma and grandad
Older generation using the wealth held in their property to help younger generations
Mind the retirement gap
Four out of five workers not saving at levels which are likely to deliver an acceptable standard of living in old age
Reevaluating the role of work
Preparing your finances for a career break
Self-employed extremely vulnerable to loss of income
81% aren’t seeking financial advice
Later life and financial wellbeing
More than one-million over-60s are rethinking later life plans
Mistakes to avoid when you’re aiming to build your pot
Welcome to our latest edition. Inside, we look at New Year’s tax saving resolutions to make sure you are fully utilising your relevant tax planning opportunities. With the tax year end (5 April) on the horizon, taking action now may give you the opportunity to take advantage of any remaining reliefs, allowances and exemptions. On page 08 we have provided some key tax and financial planning tips to consider prior to the end of the tax year. Now is also the perfect time to take a wider review of your circumstances and plan for the year ahead.
Adult social care charging reform
What will the government’s proposals mean for the social care system?
Improve your financial life
Setting a financial New Year’s resolution you’ll actually keep
How green is your pension?
Get ready to beat the ISA deadline
Time to give your financial future a boost?
New Year’s tax saving resolutions
Make full use of your relevant tax planning opportunities
Time to bring your pensions together?
3.6 million Britons have lost track of their pension savings
It may be time to invest your cash
Is your wealth protected from the damaging effects of inflation?
How much income will you receive from your State Pension?
Knowing what to expect can be an important part of planning for life after work
Create a better world to live and retire in
Pension investments to harness a more sustainable planet
The importance of financial protection
Millions battling with financial hardship, relationship stress and sleepless nights
Across the generations
Pandemic forces people to reassess their finances
Mind the pension gender gap
Women are being urged to think about their long-term savings
Could equity release fund your future?
Freeing up funds or releasing money tied up in your home
Missing midlife workers
Redundancy pushes over-50s out of the workforce
What’s your magic number?
Keeping up your current lifestyle and enjoying your golden years
Live sustainably: how to be a conscious consumer
The everyday choices we make all have impacts on our planet
Saving for a rainy day
What’s the right emergency fund amount for you?
What matters to you?
What you want your wealth to achieve will be unique. It may involve your family, your business and other interests - as well as the social or environmental causes you are passionate about. We can help you achieve the financial future you want for you and your family – please contact us.