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.
50% of British adults admit to having checked the value of their parents’ property
With house value data now easily available to access online, it’s interesting to see that so many are using this, not just to get an idea of what their own home may be worth, but to get an idea of the sort of amount they may get in terms of parental inheritance in the future.
Investing could help you beat inflation and build a nest egg for the future
Investing can be an intimidating and complex topic, but it doesn’t have to be with professional financial advice. Understanding the basic truths of investing will help you make better decisions, regardless of how much money you may or may not have.
One in twelve 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.
How to ensure that your wealth is preserved for future generations
Are you concerned about the impact of Inheritance Tax (IHT) on your estate? It’s natural to want to leave behind a legacy for your loved ones, but without the right plan in place, a significant portion of your wealth could be subject to Inheritance Tax. With IHT affecting more and more families, it’s crucial to be proactive and plan accordingly.
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 of your 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.
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.
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.
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].
Making decisions in relation to your financial affairs, health and welfare
It is critical to consider the potential consequences of not having a Lasting Power of Attorney (LPA) in place. Many people assume that their loved ones or close relatives will automatically have the authority to make decisions on their behalf. However, this is not the case, and without a LPA, those close to you will not have the legal authority to handle your financial affairs, health decisions and welfare.
