As a parent, guardian or grandparent, you’ll want to provide the best future for your children or grandchildren that you can. Christmas is an excellent time to encourage children to start thinking about the value of money. Many children have hundreds of pounds spent on them at Christmas. But could that money be put to better use? Rather than buying yet more toys for your children or grandchildren, why not consider setting up a tax-efficient Junior ISA for them?
Identifying multiple risk profiles for multiple goals
Throughout our lives, we will have many different lifestyle and financial goals that we would like to achieve. Although we all have different goals, there are some key goals that we’ll have in common, especially when it comes to retirement.
A pension could well be the biggest single asset in the relationship
What is likely to be a divorcing couple’s most valuable asset? The family home will spring to most people’s minds first. But the value of a pension could well be the biggest single asset in the relationship.
You have worked hard to build your wealth. Passing it on to the next generation fairly, safely, effectively and efficiently takes skill and careful preparation. But some people find the idea of discussing inheritance uncomfortable and subsequently put off estate planning until, in some instances, it may be too late to make a difference.
The greatest strains on physical and mental health
There is an increasing trend for people to work for longer and delay their retirement, with some staying in work out of financial necessity. But one of the primary concerns people have about working beyond their 50s is the impact this could have on their health, or whether any health concerns might prevent them from working.
A pound saved is a pound earned. But thanks to inflation, over time, the value of the pound saved could be much less than when it was earned. One cannot ignore the corrosive impact of rising prices on investments.
Common ways fraudsters can steal your personal information
As individuals, throughout our lifetime we exchange personal information with a vast number of institutions including banks, credit card suppliers, utility companies, supermarkets, government organisations and retailers. This may be to receive important services, but also to allow us to do the fun things like shopping, eating out or going on holiday.
Job prospects, savings, safety nets and life expectancy
Rising housing costs, soaring student debt and low wage inflation have left many millennials with stretched budgets. They may get regularly mocked as Generation Snowflake obsessed with spending on luxuries, but new research shows they are focused on saving for retirement and want more support.
The number of people running their own businesses has soared since the financial crisis, with a significant number being set up by someone aged over 50. But an unhealthy number of self-employed workers in the UK do not currently save into a pension.
Pharma Wealth is a trading style of Ashleigh Court Private Wealth Management Limited, which is authorised and regulated by the Financial Conduct Authority. FCA number: 491656
Company registration number: 06724340 Registered in England and Wales. Registered office: Sovereign House, 12 Warwick Street, Earlsdon, Coventry. CV5 6ET
The Financial Ombudsman Service (FOS) is an agency for arbitrating on unresolved complaints between regulated firms and their clients. Full details of the FOS can be found on its website at www.financial-ombudsman.org.uk.