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: Wealth Creation
Gender disparity
Funding a post-work life will be difficult without sufficient planning A new report has revealed a huge gender disparity when it comes to pension savings and income, indicating that funding retirement is likely to be a significant challenge for many women. According to the annual ‘State of Retirement’ report by LV=, women who have occupational… Continue reading Gender disparity
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
Wealth creation
The first step to building wealth starts with a disciplined decision to pay yourself first, then compounds with a disciplined investment approach. When you define your investment objectives, the priority of where and how to invest should be guided by your specific goals. It should also naturally encourage you to do more as you… Continue reading Wealth creation
Asset classes
When putting together an investment portfolio there are a number of asset classes, or types of investments, that can be combined in different ways. The starting point is cash – and the aim of employing the other asset classes is to achieve a better return than could be achieved by leaving all of the investment… Continue reading Asset classes
New Individual Savings Account (NISA)
The New Individual Savings Account (NISA) rules were introduced in July 2014 designed to help and encourage people to save more for their future and give savers and investors more flexibility and a larger tax-efficient allowance than ever before. This tax efficient ‘wrapper’ can hold investments such as unit trusts, other collectives such as OEIC’s,… Continue reading New Individual Savings Account (NISA)
A new-look NISA way to save and invest
Have you taken advantage of your larger tax-efficient allowance? The new Individual Savings Account (ISA) rules were introduced in July, giving savers and investors more flexibility and a larger tax-efficient allowance than ever before. Four out of ten people told the consumer organisation Which? that they would save more as a result of the annual… Continue reading A new-look NISA way to save and invest
Are you aware of the Budget changes?
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. Its study among people aged 55 and over with pension savings shows 35% are either unaware or unsure about the overhaul… Continue reading Are you aware of the Budget changes?
Tracking retirement savings trends
Records at five-year high, according to new report The number of people saving adequately for retirement at 53% is the highest it has been since 2009 and the biggest ever year-on-year rise, up from 45% in 2013, as the impact of auto enrolment and improvements in the wider economic environment begin to take effect. T… Continue reading Tracking retirement savings trends
Wealth planning strategy comes under scrutiny
Concerns a tax planning arrangement was being abused HM Revenue & Customs (HMRC) has confirmed that new proposals for a single nil rate Inheritance Tax (IHT) band for trusts will not be applied to existing trust arrangements, where no further assets are added or variations made to that trust. Multiple trusts Setting up multiple trusts… Continue reading Wealth planning strategy comes under scrutiny
