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Countdown has commenced

Countdown has commenced Are you on track to a financially secure retirement future? When you are at the point of retiring, the new pension freedoms have opened up all sorts of alternative strategies to taking your pension benefits. The very concept of retirement is changing. ‘Phased retirement’ is becoming more common. The way we access our pension is now a lot more flexible, and it’s no secret that in the UK we’re living longer than ever before. A longer retirement

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Averting a later-life financial crisis

Averting a later-life financial crisis More retirees drawing pensions without LPAs People are generally living longer these days. Increasingly, more people are living well into their 80s and 90s – and some even longer. This may mean you have a long time to budget for. That’s why it is very important to consider all of your options carefully and think about what will matter to you in retirement. You can now access your pension in more ways than ever before,

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When I’m gone

When I’m gone How a simple list can help your loved ones after your death Although it may not feel like it, your family finances are probably more precarious than you think. It’s all well and good when the breadwinners are healthy and working, but if something unfortunate were to happen, the outlook for those around you could change instantly. Research from Macmillan[1] highlights the worrying fact that two in three people living in Britain don’t have a Will –

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Driving towards the next phase of your life

Driving towards the next phase of your life Getting the date right can help you reach your destination sooner At some point you’ll say ‘goodbye’ to your co-workers, get into your car and drive towards the next phase of your life – retirement. But when will that be? The move to retirement is one of the most important decisions you’ll make, so it’s not surprising that determining the date is harder than you may ever expect. However, most over-45s are

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Pensioner debt

Pensioner debt Worrying increase on last year’s figure The over-65s in the UK are expected to owe around £86 billion by the end of 2018, according to latest figures from the Centre for Economics and Business Research (CEBR) and More 2 Life. Total debt had increased on last year’s figure of £78 billion, as borrowing grew £35 billion in just three years. The research forecast that all types of secured and unsecured debt to retirees would exceed £142 billion by

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Understanding investment risk

Understanding investment risk Making informed decisions to improve your chances of achieving your financial goals Your investment time frame will determine your risk profile to some extent, as this has a direct bearing on your capacity to take risk. Risk capacity is also influenced by factors such as your age, wealth, and the goals you are saving and investing for. Your capacity for risk is likely to change over the course of your life as your personal circumstances change. If

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Transferring ISAs

Transferring ISAs Time to bring your investments together? If you have accumulated a number of Individual Savings Accounts (ISAs) over the years, keeping them all in one place could give you better control and help you save money. There’s a common misconception that you can’t move your existing ISAs from one provider to another. Transferring your ISA doesn’t affect its tax-efficient status, but you should make sure that you don’t have to pay penalties or give up valuable benefits. If you

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Congratulations to our new Pension Transfer Specialists

Congratulations to our new Pension Transfer Specialists Two more members of the Investing For Tomorrow Team are now qualified Pension Transfer Specialists We’d like to congratulate Toby Turner and Gary Hanley who have recently passed their AF7 exams to become qualified Pension Transfer specialists. This is part of Investing For Tomorrow’s ongoing commitment to our clients, to stay as up to date as possible in a constantly changing financial landscape. Completion of these exams requires extensive study and practical application which alongside

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Easing into retirement

Easing into retirement Older workers are increasingly valuable members of the gig workforce We tend to associate young people with the gig economy, but new research shows that older, more skilled workers are increasingly making the move. The gig economy has been enthusiastically embraced by millennials who favour the flexibility it offers, although it appears that it is older workers who might be benefiting the most. However, over a third (36%) of gig workers aged 55 and over take on

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Protecting your estate for future generations

Protecting your estate for future generations Many individuals find the Inheritance Tax rules too complicated If you struggle to navigate the UK’s Inheritance Tax regime, you are not alone. Whether you are setting up your estate planning or sorting out the estate of a departed family member, the system can be hard to follow. Getting your planning wrong could also mean your family is faced with an unexpectedly high Inheritance Tax bill. Reluctant to seek professional advice Findings from a

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Planning for a bigger retirement income

Planning for a bigger retirement income Looking forward to having more time to explore faraway places Today, with more Britons living longer and healthier lives, the concept of retirement is much different to what it was only one generation ago. For each retiree, retirement is different. Perhaps you’re looking forward to having more time to explore faraway places, or maybe you dream of simply waking up each day and doing whatever takes your fancy. However you see your future, retirement

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Pension freedoms

Pension freedoms Running out of money remains the biggest retirement fear for over-55s Three years on from the pension freedoms revolution, people are saving more for their retirement while the over-55s are working longer to fulfil their retirement plans, new exclusive research shows[1]. The new rules have led to consumers taking a variety of different choices when investing their pension pots. Working for longer than originally planned The research reveals that over-55s are planning to work for longer than they had

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