UK parents spend £28 billion on nation’s under-fives each year UK parents spend around £35,000 on their children by the time they reach their fifth birthday, according to research released by Aviva. This adds up to a total of more than £28 billion[1] spent on the nation’s 4 million under-fives each year. Varying expenses The study of more than 2,000 parents with children aged… Continue reading Essentials and indulgences
Category: Protection
History lesson
Inheritance Tax matters Inheritance Tax was introduced in the UK in 1796 and stemmed from the influence of the French Revolution. The concept of IHT was supposed to protect poorer members of society and interrupt the legacy of inherited wealth. When the tax was first introduced, it was known as ’legacy, estate and succession duties’ and was collected… Continue reading History lesson
Taking preventative action
Reducing your beneficiaries’ potential Inheritance Tax bill or mitigating it out altogether With careful planning and professional financial advice, it is possible to take preventative action to either reduce your beneficiaries’ potential Inheritance Tax bill or mitigate it out altogether. 1. Make a Will A vital element of effective estate planning is to make a… Continue reading Taking preventative action
Nation of savers
Focusing on the long term for a more secure future The UK is becoming a nation of savers, with three quarters (74%) of people saying they are currently saving, research from Scottish Widows has revealed. The savings study found the number of savers is up to 74% from 63% in 2010, with a steady year-on-year rise in the number of long-term savers. The average… Continue reading Nation of savers
What’s your magic number?
The picture of retirement income in the UK is not as bleak as some would like us to think A report has revealed those approaching retirement are expecting to receive £23,700 per year when they retire. The same survey shows that the average income in retirement today is currently just £19,000 – a shortfall of… Continue reading What’s your magic number?
Full nest households
The financial pressure on parents providing board to their adult offspring Parents with adult children living under their roof are spending £1,200* more than their Empty Nester counterparts each year on everyday household expenditure, bringing the total annual cost of ‘Full Nest Syndrome’ in the UK to £3.2 billion[1]. Meet the Full Nesters, a new… Continue reading Full nest households
Care fees burden
It’s a fact THAT more of us will require specialist care in our later years Today, the cost of care is a major concern for many people, with the average level of pension savings unlikely to be enough to cover any long-term care requirements in addition to providing a retirement income. Catching people off guard… Continue reading Care fees burden
Do you know your Inheritance Tax numbers?
How to UNLOCK your assets from unnecessary tax £325,000 The first £325,000 value of your estate is called the ‘Nil Rate Band’ because although it is taxable to Inheritance Tax (IHT), it is taxed at 0% (tax year 2014/15). 40% Currently, IHT is payable on death at this rate on the value of your net… Continue reading Do you know your Inheritance Tax numbers?
The hidden cost of divorce
UK couples are spending more than £44,000 on average when they divorce or separate Achieving a fair resolution of all the financial issues surrounding divorce or the dissolution of a registered civil partnership can be highly stressful. Alongside wanting to resolve these effectively and affordably you may also be worrying about how you will achieve… Continue reading The hidden cost of divorce
Financial support when your family needs it most
Why reviewing your level of life insurance is time well spent to ensure you look after their future May 2014 marked the 253rd anniversary of the first life insurance policy being issued in the USA. Life insurance protects your family and anyone else who may depend on you for financial support. If you die prematurely, the people… Continue reading Financial support when your family needs it most
