Tag: Financial Plan
Getting ready to retire?
Have you ever wondered what you need to consider as you approach retirement? Whatever your concept of what is a good pension pot, one certainty is that relying on the State Pension alone will not give you a good enough pension to live on comfortably through your retirement.
Dealing with Divorce
No one enters into marriage expecting it to end in divorce. However, for many couples, divorce is the sad reality. If you are facing divorce, it is important to know that you are not alone. Each year, thousands of people go through the divorce process.
Discussing Inheritance with your Heirs
With wealth for millennials set to double in the next 20 years, it’s time to get over the awkwardness and have the conversation now. One of the main reasons why people don’t discuss their inheritance wishes is that they assume estate planning is not for them. That it is only necessary if you are very wealthy.
Invest your Way out of Inflation
The word ‘inflation’ had barely featured in the market’s vocabulary in the last three decades until it suddenly started to come back with a vengeance in 2021. As higher inflation looks set to persist in 2022, finding ways to generate a return on investments greater than inflation will be a key investment theme – otherwise your wealth falls in real terms.
Extending The Scope of the Trust Register
Trusts are a way of managing wealth, money, investments, land or property, for you, your family or anyone else you’d like to benefit. When you put assets in a trust, they are under the control of an appointed person or persons called ‘trustees’. The trustees then manage the trust according to your instructions, even after your death.
How Much Do I Need To Save To Retire?
The question, ‘Have I saved enough to retire?’ is a dicult one. It requires a lot of information about you, your family, your income needs in retirement, and an understanding of the various financial vehicles available for saving and investing before it can be answered definitively.
Lasting Power of Attorney
As someone becomes more unwell, they’re likely to find it more difficult to manage money and financial affairs, and may become too unwell to make decisions about health and care. A Lasting Power of Attorney (LPA) is a legal document in which someone (the donor) gives another person (the attorney) the right to help them make decisions, or take decisions on their behalf.
Diversified Portfolio
Even if you are a sophisticated investor, one of the most important tools available is diversification. Whether the market is bullish (rising) or bearish (falling), maintaining a diversified portfolio is essential to any long-term investment strategy.
2021/22 Tax Year-End Planning
As another tax year end approaches, it’s important to finalise your 2021/22 tax planning to reduce your obligations wherever possible. The current tax year started on 6 April 2021 and ends on 5 April 2022. Reviewing your tax affairs now will enable you to make the most of any allowable deductions and strategies available to minimise or mitigate a potential tax burden.
Guide to Setting Financial & Lifestyle Goals
Financial success doesn’t happen by accident. It’s a process starting with having a goal, planning carefully and being confident of making the right decisions at the right time. It is easy to stray from basic, solid principles of finance. These remain true no matter what your age or circumstances. It’s those same principles that need to be applied to your financial affairs.
New Years Tax Savings Resolutions
With the tax year end (5 April) on the horizon, taking action now may give you the opportunity to take advantage of any remaining reliefs, allowances and exemptions. We have provided some key tax and financial planning tips to consider prior to the end of the tax year. Now is also an ideal opportunity to take a wider review of your circumstances and plan for the year ahead.
Visualising Your Future
Many of those who seek to change their lives and move forward find they encounter roadblocks. These roadblocks, which come in the form of unnecessary fears and worries about what might happen next, can stop us from reaching our potential and achieving happiness.
The Power of a Plan
A comprehensive financial plan helps you achieve your goals by analysing your current situation, planning for the future and providing continuous monitoring of progress towards those goals. A well-thought- out plan can help you protect yourself from unexpected events that could affect your ability to meet long-term financial commitments.