Category: Uncategorized

Who wants to be a millionaire?

Getting there could be easier than you think – but you’ll need to start young

Parents could make their baby an adult millionaire by starting a pension pot when they are born. Children born this year could become millionaires by their 43rd birthday if their families contribute to a pension for the first 18 years of their lives[1]. The analysis found that parents or grandparents contributing £2,880 per year (£3,600 after tax relief) until their children turn 18 years old could create a pot of £1,021,837 by 2061. The figure assumes a total contribution of £51,840, a growth rate of 8% per annum, and is net of product charges. Continue reading “Who wants to be a millionaire?”

Different life events

Solutions that work as your priorities change over the years

The future may seem far away, but you need to start planning early. Regardless of your goals, there are things you can do to increase your chances of success! We look objectively at your plans to provide solutions that work as your priorities change over the years and you go through different life events. Continue reading “Different life events”

Managing risk

Pensioners ‘in the dark’ over how to protect their pots if markets tumble

Many retirees are at risk of overlooking their pension finances by falling into an avoidable trap, according to new research. A third (36%) of people keeping their pension invested through retirement could be hit harder by falling markets as they do not have a cash safety net to fall back on, research has found[1]. And even though two thirds (64%) of retirees are holding cash in reserve, fewer than one in ten (8%) would think to use it if there was a ‘significant’ drop in the stock market. Continue reading “Managing risk”

State Pension

Move to equalise male and female pension ages

Women will now start to qualify for the State Pension at the same age as men, currently set at 65. The move to equalise male and female pension ages began 25 years ago and has been gradually phased in. Your State Pension age is the earliest age you can start receiving your State Pension. It may be different to the age you can get a workplace or personal pension. Continue reading “State Pension”

Business freedoms

Contemplating a long-term self-employed future?

Self-employment enables you to exercise your sense of freedom in business decision-making and to choose your own business path. There are many benefits to becoming a self-employed freelancer or running your own business: the flexible hours, the option to work from home, no fixed holiday allowance, and, of course, being your own boss. But it’s vital to remember that there is no sick pay, life insurance or pension scheme benefits, unless you arrange to put these schemes in place yourself. Continue reading “Business freedoms”

Wealth journey

Planning your long-term investment objectives

Selecting the most appropriate investment products and undertaking the right planning at the right time to minimise the amount of tax you pay are key to accumulating wealth over the long term. Add to this general economic factors, business conditions and political events, these are just some of the things that can cause uncertainty and volatility in the markets. Over any given time period, the economy can also go through a series of ups and downs. Continue reading “Wealth journey”

Think pensions are only for ‘older’ people?

Make the most of the early years and maximise from the power of compounding

Retirement might seem a long way off, so it’s easy to understand why saving for retirement isn’t a priority in your 20s – a decade when advancing your career, not planning for the end of it, seems more important. But, youth is a huge advantage when it comes to building wealth for retirement because it gives you time to maximise from the power of compounding. Continue reading “Think pensions are only for ‘older’ people?”

Can you afford to retire?

Making the most of the next chapter in life

Pensions can seem complicated, but the basic idea is a simple one. And increasingly, if appropriate, people are turning to private pensions as a tax-effective way to increase their retirement income. Once you’ve decided to start saving for retirement, you need to choose how you’re going to do it. The precise amount you’ll need to save each month to retire at 55 depends entirely on the kind of lifestyle you plan on having in retirement. If appropriate to your particular situation, there are several different types of private pension to choose from. But, in light of recent government changes, the tax aspects require careful planning. Continue reading “Can you afford to retire?”