Skandia’s study about the roads to wealth for Britain’s youth highlights the financial challenges many young adults experience as they move away from home to establish themselves as independent individuals.
rawdown is the main alternative to a secure annuity income. It is more flexible than an annuity but is also more complex and higher risk. Figures from Skandia (08 July 2013) show only one third (35 per cent) of people in drawdown are actually taking their full income allowance.
New rules announced by HM Revenue & Customs provide people with large pension savings the flexibility to continue to receive valuable employer contributions to their pension.
Risk is an implicit aspect to investing
If you are going to invest you need to be prepared to take some calculated risk in the hope of greater reward. Risk is an implicit aspect to investing: shares can fall, economic conditions can change and companies can experience varying trading fortunes.
The diagnosis of a serious illness can mean a very difficult time for your health and your wealth. But critical illness cover can provide vital financial security when you need it most. Most homebuyers purchase life assurance when they arrange a mortgage, but overlook critical illness cover, another form of financial protection that we are statistically more likely to need before reaching retirement.
Tying the knot does bring financial advantages. Tax and pensions are probably the least romantic reasons for getting married, but there are a number of ways to benefit from your marital status.
Leaving your property and possessions to your loved ones
There are compelling financial and emotional reasons for making a will. But why do so many of us shy away from it?
More investors are now able to take their entire pension as cash. Flexible drawdown allows you to take up to a quarter of your pension tax free as a lump sum, and then unlimited taxable withdrawals if set criteria are met.
CTFs were one of Gordon Brownís recurrent Budget ideas. They eventually became reality in April 2005, with the Government making payments of around £250 or £500 for children born after 31 August 2002. Parents and others could make top-up contributions, but few did.
One in seven (14 per cent) people planning to retire this year will depend on the State Pension as they have no other pension, according to new research from Prudential.
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