30 Nov Financial Gifts for Christmas

Give your children or grandchildren a financial present they can unwrap With Christmas just round the corner, making an investment for your children or grandchildren is a great way to give them a financial start in life, long after the festivities are over. Even small amounts can really add up if you save regularly from a child’s birth, and there are many ways to invest on behalf of a child. Junior Individual Savings Account (ISA) The first and easiest option to choose is a Junior Individual Savings Account (ISA), if …

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27 Nov Aiming for Better Returns

Taking risk with some of your money to achieve a sustainable retirement income Sourcing a sustainable retirement income is essential, but you also have more options than ever before to help you find a solution. After you have made adequate provision for your essential needs, you may want to consider if you can afford to take any risk with some of your money to aim for better returns. If you have been investing for a number of years, you’ll be familiar with the idea that ‘risk’ represents the chance for …

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24 Nov Pre-Retirement Predicament

Older generation choose to work into later life amidst family concerns More than a third (34%) of over-55s plan to continue working past what would previously have been considered their retirement age of 65, according to figures released from Scottish Widows think tank the Centre for the Modern Family. The research found that a third (33%) of over-55s plan to continue working in some capacity as they approach retirement, with a further 45% unsure or yet to make plans for later life, suggesting fewer people are choosing linear career paths and …

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19 Nov You still don’t have a Will?

Save your family unnecessary distress at an already difficult time Your Will tells everyone what should happen to your money, possessions and property after you die (all these things together are called your ‘estate’). If you don’t leave a Will, the law decides how your estate is passed on – and this may not be in line with your wishes. Reasons why you should have a Will 1. A Will makes it much easier for your family or friends to sort everything out when you die – without a Will, …

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17 Nov Putting Money Aside for the Proverbial Rainy Day

Long-term investors rewarded by compound performance An investor who puts money aside over the long term for the proverbial rainy day is far more likely to achieve their goals than someone looking to ‘play the market’ in search of a quick profit. The longer you invest, the bigger the potential effect of compound performance on the original value of your investment. Many investors will be familiar with the term ‘compounding’ from owning cash savings accounts. The term refers to the process whereby interest on your money is added to the …

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13 Nov It Won’t Happen to Me

If you couldn’t work due to a serious illness, how would you manage? No one likes to think that something bad will happen to them. If you couldn’t work due to a serious illness, how would you manage? Could you survive on savings or sick pay from work? If not, you may need some other way to keep paying the bills – and you might want to consider income protection insurance. Currently, 10.8 million UK households are at risk of their income falling by at least a third if the …

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09 Nov The Value of Education

UK parents believe university is now unaffordable for most Many UK parents will now be reviewing how they will help their children pay for a university degree. With tuition fees alone costing an average £9,000 a year, university is a significant investment for both parents and students. An annual HSBC report, the ‘Value of Education Learning for life’, shows that although 71% of surveyed parents think university is unaffordable for most people in the UK, nearly half (48%) believe an undergraduate degree or higher is necessary for their children to …

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02 Nov Is cash really king?

Retirees exploit new pension freedoms Since 6 April this year, anyone aged 55 or over could – in theory – empty their money purchase pension funds entirely, although any withdrawals will be treated as income and taxed as such. Nine in ten people (90%) going in to drawdown have taken advantage of the new pension freedoms and have chosen to take a cash lump sum, according to pension provider Zurich. The remainder are opting for an annuity or drawdown. Less onerous tax implications Among the people accessing their pension, 80% …

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29 Oct Unlocking cash in your home – Is it right for you?

Funding a pension shortfall or meeting an unexpected expense Rising incomes and savings pots among UK families are masking a widening gap between the ‘haves’ and ‘have nots’, the latest Aviva Family Finance Report reveals. The last six months have seen the typical family’s income reach its highest point since March 2012. Better savings habits also mean the typical family is saving a record £113 each month. We all look forward to the day when we can stop or cut down on the amount of time we spend at work …

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21 Oct Suits You Sir!

Over-50s changing the way they work in later life If you are approaching your 50s, you may be considering your retirement options. Perhaps you want to work flexible hours and work when it suits you. You might want to be ‘your own boss’ and set up a business or become self-employed. Or you may want to know what your options are for working after retirement. Nearly two-thirds of over-50s workers would consider retraining so they could work longer in retirement. Findings from research conducted by MetLife[1] found 63% of over-50s …

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