Planning for tomorrow Will my retirement income be enough to live on comfortably? The questions our clients almost always ask us are: ‘Will I be able to retire when I want to? Will I run out of money? How can I guarantee the kind of retirement I want?’ Worryingly, it’s been well documented that many Britons aren’t saving enough in their pension for their retirement. Figures published by HM Revenue & Customs (HMRC)[1] in September 2019 show that the annual

Preserving your legacy How to keep your wealth in the family Are you worried about leaving an inheritance to your loved ones and then having them pay tax on your legacy? No one likes to think about a time when they won’t be here, but unfortunately the reality is that some people aren’t prepared financially. Estates that pass on to a spouse, registered civil partner or charities are exempt from Inheritance Tax (IHT), even if the value of such estates

Time to give your pension pot a boost? Planning ahead for the financial future you want Planning for retirement can be both exciting and daunting. It’s essential to structure your affairs to make sure you have enough money when you eventually retire. To give your pension pot a boost, one option to consider if your pension savings are more than your annual allowance is to take advantage of the ‘carry forward’ rules for unused annual allowances from previous years and

Top 4 tips for good tax planning What should I consider before the end of this tax year? The end of the 2019/20 tax year is fast approaching, and there are a number of valuable allowances and reliefs that will be lost if they are not used before the deadline. These opportunities include, but are not limited to, four important areas of tax planning. We’ve summarised these allowances below and suggest that if appropriate to your particular situation, these areas

Pension consolidation Simplifying and maximising retirement benefits The employment landscape has evolved significantly over the last few decades, and changing jobs multiple times before retirement is now very much the norm. As a result, many people have multiple pensions set up, as they have been automatically enrolled into a new pension scheme each time they have started a new job. When you have several pension pots, things can become complicated. If you have accumulated a number of pension pots over

Retirement matters There’s a lot to look forward to In your 50s, it’s important to make retirement planning a priority if you haven’t done so already. At this age, retirement is no longer a distant concept, and time is short if your plans aren’t on track. This means it’s crucial to think about your retirement income goals and the steps that you need to take to achieve those goals. Variables to consider One of the most important things to do

Bullish millennials Putting money to work earlier allows more time for savings to grow Millennials are more bullish than any other generation about their retirement savings, a major new study has found[1]. But with time on their side, should they be doing more? Almost two fifths (38%) of millennial investors (aged between 18 and 37) globally are very confident they are saving enough now so they won’t run out of money in their retirement. That is more than 29% for

How do I plan for my retirement? Self-employed business owners face unique challenges Saving for retirement can be more challenging when you are self-employed, as there is no one to organise a pension for you and no employer making contributions on your behalf. On top of that, self-employed workers often don’t have a regular income, so many will focus on setting aside money as a safety net if they cannot work. New research shows[1] that some self-employed workers are heading

Life after work Plan for the future you want Early retirement is no longer defined as the moment when you stop working forever. For many people, it’s simply the moment when you no longer have to work for money. But this also means being in a financial position to choose to keep working if you enjoy what you’re doing. Retiring at 55 is an attainable target if you start early and develop a sound financial plan. It’s worth remembering there’s

Wealth uplift Calculating the value of financial advice Quantifying the value of financial advice has always been a challenge because people who receive financial advice have different characteristics to those who do not. But what if it was now possible to quantify the value of financial advice and isolate a pure ‘advice effect’? This is exactly what the researchers at the International Longevity Centre – UK (ILC) have been able to calculate. What it’s worth The new research[1], ‘What it’s

How prepared are you for retirement? Planning ahead helps ensure that you’re on track You work hard to enjoy your current lifestyle, but are you doing enough to ensure that you will continue to enjoy it in retirement? Many of us live for today, but saving into a private pension plan can help you retire sooner rather than later. The term ‘private pension’ covers both workplace pensions (also known as ‘occupational’ or ‘company’ schemes), arranged by your employer; and ‘personal