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Financial Planning

Financial wellbeing

More than 24.5 million people are financially disengaged

Do you often review your finances? Or are you one of those people who just hope for the best? Although managing finances may not be the most exciting activity, keeping track of your financial wellbeing can make a significant difference to your life, both in the present and in the future. Taking control of your finances will enable you to meet your financial goals and improve your overall financial health.

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Financial Planning

Retirement matters

Will you have enough funds to cover your desired lifestyle after you stop working?

Pensions may not be the most exciting thing to think about, but they are an essential part of planning for your long-term future. In fact, your pension has the potential to be one of your most valuable assets, even more than your property. It’s something that could make a significant difference to your lifestyle in later life.

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Financial Planning

Think of life insurance like a safety net

Make sure your dependents have the money they need if you were no longer around

When it comes to ensuring that your family is taken care of in the event you premature death, life insurance is invaluable. It’s important to recognise how life insurance can help protect your financial interests and those of your loved ones.

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Financial Planning

Time to give annuities another chance?

Nearly one million pre-retirees considering annuities

Pre-retirees, aged over 55 and still in work, are considering annuities for the first time in preparation for their retirement, according to new research[1]. Nearly one million (990,000) people fall under this category[2]. Of these, 16% are thinking of the product due to improved rates against the backdrop of rising living costs. This is in addition to the 828,000 (14%) of working over-55s who had always planned to purchase an annuity in their retirement[3].

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Financial Planning

Building up more tax-free money in your pension

Changes present significant opportunities for various individuals

When making contributions to your pension, it’s important to keep in mind that there’s a limit to how much you can contribute each year without incurring additional taxes. This limit is known as the pension Annual Allowance.

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Financial Planning

Gender pension gap

Gap in pension benefits between men and women widens

For many women, the decision to work part-time often coincides with important career and childcare milestones. While pension contributions may not be the deciding factor for this decision, it’s important to understand the long-term impact on pensions. This knowledge is crucial for good financial planning.

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Financial Planning

Combining drawdown with an annuity

Enjoying a comfortable and sustainable retirement income that gives you the best of both worlds

If you’re considering combining drawdown with an annuity, it’s important to obtain professional financial advice to ensure you make the most of both options. Choosing the most suitable investment and calculating the amount of money you can realistically afford to withdraw from your pension each year is a complex matter, and it pays to be well informed.

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Financial Planning

Mind the State Pension gap

Knowing how much you’ll receive is vital for planning your future finances

The State Pension age is set to rise to 67 by 2028, followed by a subsequent rise to 68 between 2044 and 2046. However, there is currently a review being conducted to determine the appropriateness of the existing timetable.

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Financial Planning

Want to help give the younger generation a boost?

One in 12 grandparents use property wealth to support grandchildren

There’s no denying that grandparents have a wealth of knowledge and life experience to offer their grandchildren, but increasingly, they’re also able to provide much-needed financial support. With housing prices remaining sky-high, many homeowners are turning to the value in their homes as a way to give their grandchildren a living inheritance.