Rishi Sunak is reportedly drawing up plans to provide a “midlife MOT” to assess the financial health of workers and retirees. Taking stock of your finances in your 40s and 50s could lead to greater financial freedom in the future. Read on to discover five initial steps you can take to review your wealth. Sunak’s plans…
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Tax relief could boost your pension and mean you have more financial freedom in retirement. Yet it’s something that you may overlook when reviewing your pension, as analysis suggests that some workers aren’t claiming their full entitlement. In fact, according to a report in the Telegraph, higher- and additional-rate taxpayers could have missed…
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High inflation means retirees could need to increase their budget by almost 20% to maintain the same lifestyle, research suggests. If you’re drawing an income from your pension, it’s vital you understand whether withdrawing more is sustainable. The UK experienced high inflation throughout much of 2022, and inflation remains above the Bank of England’s target of…
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A key part of your estate plan is setting out how you’d like to pass on assets to loved ones. There’s more than one option to consider, so read on to find out more. Your estate plan should consider how you’ll use your assets during your life and what you’d like to happen to them when…
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Most investors – at some time – will be either tempted to time when to be in or out of equity markets – or wish they had when markets fall. It would be great to be able to capture the upsides and avoid the downsides, but that is wishful thinking. Investors may well underestimate the rapidity and magnitude…
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Do you love to solve a tricky crossword, or get your brain working each day with a number puzzle? A survey found that millions of people enjoy cracking puzzles every week. Read on to discover some online options that could be perfect for you. According to Aviva…
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The number of homeowners turning to equity release to boost their finances is on the rise. While accessing property wealth can be a useful way to supplement your other income, there are things you need to consider first. Equity release provides you with a way to access some of your property wealth while still being able…
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You have until 5 April 2023 to make the most of your ISA allowance for the current tax year. If you want to boost your savings or investments, adding more to your ISA could make sense. For the 2022/23 tax year, you can add up to £20,000 to adult ISAs. The allowance is for each individual.
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Are you worried about Inheritance Tax (IHT) or how you’ll pass on your wealth to loved ones? For some people, pensions can provide a tax-efficient way to leave wealth to the wider family. Here’s what you need to know. While IHT currently affects around 1 in 20 estates, it’s a concern for many families. As key…
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When you think about retirement planning, what challenges come to mind? While ensuring you have enough saved and don’t run out of money are common concerns, there is one you may have overlooked: changing from a saving to a spending mindset. To secure your retirement, putting money away has likely become a habit you’ve embraced for…
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