More taking out protection policies as health consciousness rises
Life is full of twists and turns, some of them good, others not so good. Protection policies are one of the best ways of ensuring your family is provided for financially, if unexpected and unwelcome events should happen. Policies can pay out lump-sums or provide an income to ease the financial burden at a difficult […]
Women are better savers than men
Women, it seems, are heeding the message about saving for retirement and are saving more for their future than men, after adjusting for earnings. However, the fact that women are saving more as a percentage of their earnings, but still achieving lower balances in their pension plans, shows the effect that the gender pay gap […]
Reached your half-century? How to plan for retirement
Once you reach 50, it’s time to get serious about planning your retirement. True, it could still seem ages away, and you may not be thinking of giving up work anytime soon. However, putting a retirement plan together will help you understand what your finances will look like when you decide to take life easy. […]
IHT – under the spotlight
According to figures from HM Revenue and Customs, Inheritance Tax (IHT) revenues are up again, with £5bn being paid in the 2017–18 tax year. This increase comes despite the introduction of the residence nil-rate band in 2017. With more families falling into the IHT bracket, campaigners are hoping that the current review by the Office […]
Pension withdrawals hit £2.3bn
Pension withdrawals hit £2.3bn There’s growing evidence that pensioners are treating their pension pots more like bank accounts. In the second quarter of this year, savers withdrew £2.3bn, according to data produced by HM Revenue and Customs, an increase of 35% on the first quarter. The money withdrawn represented full or partial withdrawals, flexible drawdown […]
First-time buyers need 13 times their salary to buy a home
Despite signs that the housing market is slowing down, especially in London, house prices have remained high due to the shortage of supply. This has meant that affordability has continued to be a major issue, especially in the south of the country. Figures from the Office for National Statistics show that first-time buyers in London […]
Why bad maths could cost you a fortune
How much are your possessions worth? Having enough insurance is almost as important as having insurance in the first place. When it comes to applying for a policy, it’s important to provide the right figures, as getting them wrong could have serious consequences. “Guesstimating” the value of your household contents could leave you under insured […]
Half of pensioners plan to work on into retirement
Retirement is a much more fluid concept than it once was. According to a recent survey1, 54% of respondents who were considering working into retirement, or who were already doing so, said they valued the opportunity to keep active in mind and body. Around 8% of those scheduled to retire in 2018 have postponed their […]
What are the main asset classes?
With investing, the old saying ‘don’t put all your eggs in one basket’ rings true. To improve the potential for long-term gains and spread risk, the best advice is to diversify your investment across a range of companies, asset classes and geographical regions. This helps to minimise the impact a poor performing economic region or […]
A majority of Britons are ‘Trend Spenders’
A recent survey2 shows that many of us spend with our hearts rather than our heads. ‘Trend spenders’ don’t feel overly worried about splashing out and are keen to maintain their lifestyle, and are the largest group among the financial personality types. By contrast, less of us are defined as ‘Skilled savers’ and ‘Budget gurus’. […]