Planning for Tomorrow – March 2020
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 still receive tax relief.
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.
Dividing this asset is of vital importance to avoid pension poverty
Divorce is an emotional and stressful period for those who have to go through it. However, it’s important that people realise that a pension is a valuable asset when considering how they split their money.
£19m released each day since pension freedoms launch
In his 2015 Spring Budget, then-chancellor George Osborne introduced sweeping changes to the way that pensions are taxed. The new pension freedom rules have led to the over-55s being faced with a variety of different choices when taking and investing their nest eggs.
More younger women opting out of pensions
Young women are putting their future retirement security at risk by opting out of their workplace pension. The analysis shows a worrying spike in opt-outs, with 10.5% of women aged 22–29 opting out of their workplace pension. This compares to 8.1% of men in the same age group.
Are you ‘property rich’ but want or need more than you have saved?
An increasing number of people aged over 65 are using equity release products to pay off debts and mortgages. Many people in the UK might be ‘property rich’ but want or need more than they have saved to enjoy the lifestyle they want. And with more people living longer, there are, on average, more years to fund.
Professional financial advice tailored to you
It’s often a common fallacy that only those that are wealthy have any need for professional financial advice. Regardless of how careful you are with your money, dealing with the tricky intricacies of taxation, investments and financial regulations can be difficult for even the most money-conscious of earners.
Active steps to make sure your people are happy, healthy and financially sound
Employee health and well-being is high on many businesses’ agendas and is no longer merely an afterthought when addressing sickness absence. There is an obvious link between a happy, healthy workforce and improved productivity.
Maximise your wealth creation – don’t miss the deadline
Whatever you’re putting money aside for, there’s likely to be a role for Individual Saving Accounts, or ‘ISAs’. An ISA is a way of holding savings or investments without paying personal tax on interest received or on the growth of your investment.
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