You could be missing out on your retirement options
More than one in three people approaching retirement are unaware of the pensions reforms announced in the March Budget, according to new research[1] from MetLife.
Topic: Wealth Creation
Bank of Gran and Grandad
Three quarters of grandparents say that they have dipped into their savings to help their grandchildren this year
Forget the bank of Mum and Dad – today’s young people are now receiving help from the bank of Gran and Grandad, with millions of grandparents offering financial support to their grandchildren.
Investing in a highly complex world
Easy-to-understand groupings should be viewed with caution
Investors like to sort things into neat categories; it helps make sense of a highly complex world. Categories like ‘Emerging Markets’, ‘BRICs’ and the ‘Fragile Five’ have all been invented as easy-to-understand groupings of supposedly similar countries. Yet we have to be careful of such generalisations, because the more research you do, the more you realise that there are often more differences than similarities between these groupings.
Mind the savings gap
Having a plan for the future can make the present feel less stressful
The number of people in the UK with no savings at all has risen year-on-year from eight million to over nine million, or 1 in 5 of the UK adult population, according to the 2014 Scottish Widows Savings Report. This brings the proportion of people who have savings (67%) down to a level not seen since 2011.
Increases in the cost of childcare
Families are feeling the impact of benefit cuts
The cost of bringing up a child has reached £227,266, up from £222,458 last year, with the first year of a child’s life seeing the largest increase.
Taking vital steps before the new tax year
You need to act fast to avoid next year’s child benefit charges
Families impacted by the high income child benefit charge need to act now to limit or avoid it in the next tax year. Doing this could make them potentially up to £2,449 better off, but they only have until the 6th April 2014 to take some vital steps for the 2013/14 tax year, according to Standard Life.
Do you have enough money to retire comfortably?
New data shows consumer confidence improving but worry is still strife
Data recently released by Aviva shows that over half (55%) of UK consumers worry that they will not have enough money to provide an adequate standard of living when they retire, with 18% of consumers saying they do not hold any form of savings or long-term investment products. Almost the same proportion of consumers (49%) think they will have to work beyond the normal retirement age.
Tax attack
Legitimate planning could save you money by reducing a potential tax bill
With tax increases the prospect for the foreseeable future, it is essential that you make the most of every available tax relief. Using the tax breaks available to you also makes good financial sense.
Make sure you beat the ISA deadline
Sheltering up to £11,520 tax-efficiently means taking action NOW
Time is running out if you want to make the most of this year’s Individual Savings Account (ISA) allowance, so you’ll need to get your skates on.
Navigating a shifting landscape
Prioritising short-term needs as opposed to long-term goals
Recent years have brought tremendous change around the globe, change that affects us all. People are trying to navigate this shifting landscape, but it’s not easy.
