The £1 coin was introduced on 23 April 1983. If you’d invested one of them in the FTSE All Share, the main UK stock market index, by now you’d have seen a whopping 3,000 per cent return on your investment, an average of a little under 11 per cent each year. But were better returns…
This week I’m answering a reader’s question, and it’s one that many of us ask ourselves as we get older: can I afford to retire, and if so what do I do next?
I was contacted by a gentleman, Arthur who wanted to understand his retirement options. Arthur was desperate to retire; frankly he’d had enough of the stresses of working – which is a shame as I like people to work in some form during retirement because work gives us a lot more than just an income; connection and relationships, mental stimulation, purpose to get up each morning. However, he’s been working for his company for over 30 years but is ready to stop.
As a nation, we love property, I try to expand my clients views, but often decisions made decades before meeting me means that the largest asset some of my clients own is their home and often they are pension and cash poor, so how do you release the value of your home?
I was speaking with someone recently about their financial planning and they were really concerned about Brexit. The media’s aim is to get you to buy their paper or stay on their website, and worry makes us do just that. If they told you everything was fine, you wouldn’t pay too much attention. But articles portraying the concerns around Brexit get people to focus… and worry.
It can be hard to see through the headlines; there’s an editorial slant on all the news we read, see and hear. Let’s try to take the emotion out of the subject – regardless of whether you feel Brexit is a good or bad thing – and look at what’s happening in the bigger picture.
Investment fads are nothing new. When selecting strategies for their portfolios, investors are often tempted to seek out the latest and greatest investment opportunities. Over the years, these approaches have sought to capitalise on developments such as the perceived relative strength of particular geographic regions, technological changes in the economy, or the popularity of different…
Preparation and planning is key to good money management. Knowing what’s coming up means you can prepare and adjust before things happen, rather than rushing to get things arranged at the last minute. On 6 April the new tax year begins, so ahead of the inevitable flurry of advice in late March, here’s a look at the income-related changes that are on the way so that you can plan ahead.
Anybody from a new-born baby until they are in their 60s can have a pension – you can even set one up in your baby’s name and pay into it from the day of their birth! The beneficiary can’t access their pension until retirement age, so your children can’t use it to buy a car or a house or to pay for university. So why would you consider starting one for your child?
When I wrote my recent state pension guide, I was surprised to find that it helped me boost my own state pension, let me explain how.
Money, like a relationship, is a very emotional thing. Put the two together and you’ve either got sweet sailing or stormy waters ahead. Discussing your thoughts and rules around money is important as a couple. You need to develop together in a financial sense as well as an emotional one. Based on over 20 years of working with couples and their finances, here are some tips on navigating the journey together.
How are you getting on with your new year’s resolutions, we’re a few weeks in now and for many of you, your resolutions include financial goal-setting. It’s also the time of year when we are hit with all sorts of predictions on what stocks or investment strategies are going to work best in the coming year, so I thought I would add mine to your list.
It’s predicted that the pound could slide further against the euro because of Brexit. But if you look back over the past decade of exchange rates between the two currencies, the reality is a little different than some headlines would have you believe.
There’s been a lot of economic modelling in the news lately as the Brexit debates roll on. Steering well clear of any politics, what’s the potential impact of next week’s vote in parliament on the markets and our investments? The possibilities outlined by Mark Carney were stark – but it’s important to remember he was talking about the worst-case scenario, the extreme that might occur according to his modelling.
The NHS pension scheme has made a change to the scheme rules to permit voluntary scheme pays. Which schemes offer voluntary scheme pays has been brought to the fore because of the impact of the tapered annual allowance and the need for the individual to have to meet the annual allowance charge personally, in line with the self-assessment deadlines.
In most cases, the answer to this question is more than you’re putting in now! The minimum that you should be putting aside for your retirement plans, if you’re free of unsecured debts like credit cards and loans, is 12.5% of your income.
The government have just launched a new savings scheme called “Help to Save”. It allows you to save upto £50 a month over four years (up to a maximum of £2,400) and receive a 50p bonus for every £1 you save. Find out more about the benefits on this scheme along with how you open an account.
Parents helping out their children (and grandchildren) financially is a tricky topic because it’s so caught up in emotion and love that it’s not always easy to make sensible decisions. I have two kids and I love them dearly – but there’s a reason it tells you on the airplane safety briefing to put your own mask on first before you help your children. In the same way, financial support for your family is a case of secure yourself first.
More people are selling second properties. This could give rise to substantial CGT liabilities. How are those CGT liabilities calculated? Advance planning can reduce those CGT liabilities.
Following the anniversary of the crash, the financial landscape changed; here’s what it all means for your investment strategy.
Last week the USA stock market established another record – the longest bull run ever.
The care fee problem is massive, it is estimated that in 2020/21 there will be a £5.5 billion funding gap in the costs of social care. This is set to rise to £12 billion by 2030. Meeting the potential huge future costs of care is therefore a massive headache for the Government and the elderly.…
They’re up, down then up again…cryptocurrencies are back in the news for all the wrong reasons. Are they an opportunity or something to avoid?
I love what I do, and I’m very fortunate to work with some amazing people who I really enjoy meeting with. However I recognise that some of the people that really need the help from a financial planner, don’t have an opportunity to see one, whether they feel it’s because they don’t earn enough money,…
How do you know what you’re on track for when it comes to your pension, and what approach should you take to get there if you’re starting later in life?
The Money Plan hit No1 bestseller in financial planning paperbacks on Amazon in its first day – amazing! Here’s the story behind the book.
Starting out in investing can be confusing, with a bewildering array of options open to you. Active or passive? Pension or ISA? Now or later? Get the lowdown from the UK’s Financial Professional of the Year 2017.
The 2018/19 tax year brought in a number of changes to allowances and tax that affect all of us. Get the lowdown on what’s changed and how you can take advantage.
Now is a great time to make an ISA and Pension investment, taking advantage of your ISA and Pension allowances early in the tax year means you get an extra 12 months tax free growth plus you’re sat happy when everyone else is rushing around at the last minute!
With only days left before the tax year ends, here’s a guide to making the most of your opportunities to make some savings before it happens.
As ISAs have become increasingly complex, it’s worth taking a little time to find out which is the right ISA for you – there are six main types on the market, so plenty of choice before the tax year ends on 5 April.
Have you heard of the brilliant new savings scheme being offered by your government, to help you save? You really should consider this if you qualify. It’s called the Help to Save Scheme. The Help to Save scheme is a new government saving scheme to support working people on low incomes to build their savings. Basically it…
Interest-only mortgage mess? Don’t Panic!
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Taking control of your finances on Universal Credit
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