Are Interest Rate Cuts Always Good News?
Cuts to interest rates have been a key financial news theme in 2024 and we don’t expect that to change in 2025. Many central banks across the world are looking to reduce interest rates as inflation figures slowly return to normal. It is often heralded as great news for mortgage borrowers, but what about investors? Financial markets love predictions, and interest rate cuts or hikes are often predicted well…
UK Job Market may be Stagnating
Competition for jobs in the UK has reached its highest level in three years, with more than two jobseekers per vacancy, according to new research from jobs site Adzuna. The report reveals a 0.5% drop in advertised vacancies, with 857,000 roles available in August, down from July. This indicates a potential stagnation in the UK jobs market. The decline in job listings has coincided with a rise in redundancies…
£1.4 billion in Forgotten Child Trust Funds
The Government has released data showing that a huge £1.4bn is currently sat unclaimed and unused in Child Trust Funds (CTFs). CTFs were made available to all children in Britain born between 1 September 2002 and 2 January 2011. Parents were issued a voucher for £250 or £500 to be paid into the CTF at outset, but if it hadn’t been used after 12 months the government simply opened up…
August House Sales Up on Last Year
House sales in the UK were 5% higher in August 2024 compared to the same month in 2023, according to figures from HM Revenue & Customs (HMRC). An estimated 90,210 homes were sold across the UK, reflecting this increase, though the number was slightly down—by less than 1%—from July 2024. The housing market’s resurgence has been aided by recent reductions in mortgage rates as the autumn season begins. Several…
Budgeting
Times have been unusually tough for a lot of people in recent years. Even those with a decent income have been squeezed by inflation. For them, the process of budgeting extends beyond mere expense tracking. It’s about strategically managing resources to sustain and grow wealth, aligning spending with values, and preparing for future financial goals. Here’s a guide to help you navigate the essentials of budgeting effectively. What are…
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…
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,…
Financial Freedom is a Journey
What does financial freedom look like for you? For most, it means having enough income, savings or investments to live life on their own terms, without having to worry about the consequences. But financial freedom isn’t something that can be achieved overnight. It is a target that you need to work towards over many years, with strategic and careful planning. Set clear goals The first step to achieving financial…
Do you need Life Insurance?
When a person is putting together a financial plan, life insurance can often be overlooked. Yet, this financial product can provide invaluable support to your loved ones in the event of your death, and act as a crucial safety net for those you care about most. So why should you consider getting life insurance sooner rather than later? 1. Protect your dependents If you have dependents, such as a…
