Add a little more to your retirement pot
Most people will be aware of the tax incentives around paying into a pension such as income tax relief on contributions, tax free growth on the fund and a tax-free lump sum and replacement income in retirement. Many pension providers will bring a shutter down on pension contributions post age 75 as tax relief is […]
Question: Why save into a pension? Answer: Money for nothing
The recent changes to both the Annual Allowance and the Lifetime Allowance means that pension saving should be attractive for just about everyone and when saving for retirement, a pension will in most cases provide better net returns than an ISA, purely based on the tax mechanics. In no cases will it provide a worse […]
Financial Planning Wisdom from David Copperfield: Wilkins Micawber’s Timeless Advice for a Happier, Debt-Free Life
In the Charles Dickens’s novel David Copperfield, Wilkins Micawber drops a gem about financial planning that has stood the test of time. “Annual income twenty pounds, annual expenditure nineteen and six, result happiness. Annual income twenty pounds, annual expenditure twenty-pound ought and six, result misery.” In the quote, Micawber is essentially saying that it’s better […]
Summer is coming… things to do for free, now the sun is out!
The increases in the cost of living over the last 18 months (inflation) is making it difficult for many people to afford to do the things they enjoy. This could include holidays, eating out, cinema, the gym, etc. This is particularly true if you have a family where you may be adding up the costs […]
Boost your State Pension whilst doing something with someone you love
The average cost of providing full time childcare in the UK now runs at around £260 per week*1 and this will be more in London. For working adults this cost needs to be funded out of net pay, so take home pay after National Insurance (NI) and Income Tax. Earnings would need to be around […]
Should I buy an electric car?: the misconceptions
One of the points of existence in purchasing an electric car is people tend to think there is a hassle factor due to charging. It is true that charging does lead to different behaviours, but having lived with an electric car for the best part of two years, I have never been to a petrol […]
Which type of budget do you have?
When we picture a budget, we may imagine the Chancellor of the Exchequer holding up a red brief case outside 11 Downing Street. Of course, the national budget is important as it provides a blueprint of any changes in taxation, government spending and forecasts for the UK economy. Besides voting, there is very little we […]
Beware of the boiler room scams
I am sure that many feel that they are well aware of financial scammers and are alert to emails and telephone calls that tell of packages not being delivered, cures and vaccines for COVID, or bogus pension and investment opportunities, however according to UK Finance, the representative body for the UK Banking and Finance industry, […]
With access to Online Platforms and fund research, do I need a Financial Adviser?
It is easy to think investing is just a matter of picking the best funds to grow your money and with modern technology, the information to do this is accessible to all. However Financial Planning is more than this. It starts by knowing a client’s goals and objectives and then setting up a plan to […]
Why is an LPA important when in drawdown?
Why is a financial Power of Attorney particularly important when in income drawdown? I have previously written about why it is important to have a Power of Attorney, irrespective of age. I am now going to look more specifically at the importance of having one in place if your pension fund is in drawdown. First […]
