What might the Labour Government mean for your Finances?
Now we know that Labour will be in government for the next five years, we’ve reviewed their Manifesto promises to see what might be in store from a personal and business finance perspective. How closely they stick to it and what else might be in store will only be revealed in the forthcoming months, but we’ve checked what was published just weeks before they came into power. In May,…
What is a Safe Withdrawal Rate from your Pension?
The concept of a safe withdrawal rate is a common ‘rule of thumb’ in retirement planning, used to determine how much you can withdraw from your retirement savings each year without running out of money. The safe withdrawal rate helps retirees manage the risk of outliving their assets, balancing the need for current income against the preservation of capital over the long term. Here’s a breakdown of the concept…
Pensions and Politics
Pensions have been a big topic in UK politics for some time, nevermore so than in an election year. That’s no surprise to us given their crucial role in the financial security of millions of citizens, but not everyone is as interested and engaged in pensions as we are! Here’s a quick summary of why pensions have been at the forefront of UK politics in recent years. The UK…
Are you Ready for Retirement?
As you move through your working life, it’s easy to get a rosy picture of retirement and dream of the day when you finally step away from the office. But how do you work out when that day should actually be? There is no simple answer to this question, as there are so many factors that are unique to you personally. However, there are several other questions you can…
Number of Inheritance Disputes Doubled in the last Decade
More and more people are finding themselves in legal disputes with loved ones over inheritances, new figures have revealed. According to the Ministry of Justice, 80 inheritance disputes went in front of judges in 2012. However, this figure had risen to 145 by 2017, and in 2021/22, it stood at 195 – more than double the number recorded a decade earlier. And that’s before you take into account the…
How an IFA can help you
Trying to understand every aspect of your finances can be daunting, overwhelming and sometimes just plain baffling. When you want to get to grips with the finer points of everything from ISAs and mortgages to pensions and investments, where do you start? And how can you make informed decisions when navigating the financial world is so complex, and any information you do find is either meaningless marketing speak or industry jargon? Well,…
How to Protect yourself from Financial Crime
As the world becomes more and more interconnected and we routinely use digital means of making payments, it is more important than ever to be aware of the risks this can present. From identity theft and fraud to cybercrime and money laundering, criminals have many different ways of targeting unsuspecting victims and obtaining their hard-earned cash. So, what can you do to be more resilient in the face of…
Things are looking up!
We’ve been through a difficult period in the last few years, to say the least. Thanks to factors ranging from the Covid-19 pandemic to Liz Truss’s catastrophic Mini-Budget, along with soaring interest rates and inflation rising to a 40-year high, people in the UK have been put under unprecedented and sustained financial pressure. But interest rates have been left on hold in the last few months and whilst the…
Is this the Peak for Savings Rates?
This month, the Office for National Statistics (ONS) reported that inflation had fallen to 3.4% in the twelve months to February 2024. This is down from 4% in January and means that inflation is at its lowest point in two and a half years. The impact of getting closer to the Government’s 2% inflation target could then mean the Bank of England’s MPC (Monetary Policy Committee) decide to reduce…
Use your Capital Gains Allowance
The 2023/24 tax year is coming to an end on April 5th, so you don’t have long left to use your various allowances – in particular your Capital Gains Tax allowance. This is especially important this year as your Capital Gains Tax allowance is being cut from £6,000 to £3,000 from April 6th. That means that now is the time to cash in on the bigger allowance, so if you…
