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, 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