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Articles of interest

Retirement rewards
Retirement rewards Common planning mistakes lead to an opaque future With increasing life expectancy and rising cost of living, the need to plan for one’s golden years is essential. Although retirement is one of the most distant financial goals, it is in our own interest not to ignore it. And almost three quarters (73%) of people aged 45 or over are longing for the day when their life is no longer confined by their working routine, according to new research[1].

Diversification, diversification, diversification
Diversification, diversification, diversification Portfolio building requires different characteristics to evaluate There are many ways to invest and different types of investments. But when looking to build an appropriate diversified portfolio, investors have a number of different characteristics to evaluate. For example, is the investment designed to provide growth or income? Is it domestic or international? Does it have a maturity? Another consideration is whether the investment is actively or passively managed. Economic and market conditions Active fund managers select individual

Retirement wealth
Retirement wealth What’s the right answer for you? The first increase in minimum automatic enrolment (AE) workplace pension contributions came into effect on 6 April[1]. According to research from Scottish Widows, however, one in five Britons (20%) – amounting to more than ten million people – say they’ll work until they’re physically unable to, while one in 20 (6%) – another three million people – say they expect to work until they die. While the increase in AE workplace pension

Financial freedom
Financial freedom Deciding what to do with pension savings – even if you’re still working On 6 April 2015, the Government introduced major changes to people’s defined contribution (DC) private pensions. Once you reach the age of 55 years, you now have much more freedom to access your pension savings or pension pot and to decide what to do with this money – even if you’re still working. Depending on the scheme, you may be able to take cash lump

Art of bond investing
Art of bond investing Portfolio balancing, negating stock market volatility and lowering risk A bond is an IOU, typically issued by a government or company (an ‘issuer’). Companies issue bonds to meet their expenditure or to settle out their debts. Governments also issue bonds in order to settle any financial deficits of the government, and also to bring development. When issued by a company, they are referred to as ‘corporate bonds’. By buying a bond, you are lending the issuer money.

State Pension
State Pension New changeover arrangements designed to be simpler than the old system The State Pension changed on 6 April 2016. If you reached State Pension age on or after that date, you’ll get the new State Pension under the new rules. The new State Pension is designed to be simpler than the old system, but there are some changeover arrangements which you need to know about if you’ve already made contributions under the old system. You can claim the

Future Care
Have you considered whether you or a relative may need to enter residential care or a nursing home in the future? Most will have considered a pension for the end of their working life, but this is an additional expense that many overlook. Care home bills alone can eat up £50,000 a year and who knows how long you might need to reside there. Specialist care for dementia patients is likely to be higher. Whether you opt for a

Cultivating the art of patience
Cultivating the art of patience Sticking with a long-term commitment to your investments The longer you’re prepared to stay invested, the greater the chance your investments will yield positive returns. That means holding your investments for no less than five years, but preferably much longer. During any long-term investment period, it is vital not to be distracted by the daily performance of individual investments. Instead, stay focused on the bigger picture. Putting your money into the market Success in the

Protection matters
Protection matters Families face a precarious situation if the worst were to happen Everyone’s circumstances are different, but most people start to think about cover to help protect their family financially once they have children. But research from Scottish Widows[1] reveals that 60% of women in the UK with dependent children have no life cover, leaving their families in a precarious situation if the worst were to happen. The research also shows that only 13% of mums have a critical

Investment trusts
Investment trusts Public company aiming to make money by investing in other companies Investment trusts, unlike unit trusts, can borrow money to buy shares (known as ‘gearing’). This extra buying potential can produce gains in rising markets but also accentuate losses in falling markets. Investment trusts generally have more freedom to borrow than unit trusts that can be sold to the general public. BUYING SHARES Unlike with a unit trust, if an investor wants to sell their shares in an

One in eight will retire with no pension in 2018
One in eight will retire with no pension in 2018 Excuses to avoid facing the difficult work of saving for retirement Retirement is one of our biggest financial challenges. As with any daunting challenges we face, we tend to think up excuses so we can avoid facing the difficult work of saving for retirement. Worryingly, nearly one in eight people retiring this year (12%) have made no provision for their retirement, including 10% who will either be totally or somewhat

Money’s too tight to mention
Money’s too tight to mention Financial impact on annual retirement income after divorce However, for some couples, no amount of marriage counselling is enough to avoid a divorce. It’s a tough process emotionally and financially. Untangling two people’s money can be messy. Long before spousal or child support is awarded or your post-divorce budget is in place, you’ll need to prepare your finances for the work ahead. Marriage breakdown impact on pension saving Divorcees who plan to retire in 2018