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Pension freedom Q&A

Readers Question: Can I Retire?

This week I’m answering a reader’s question, and it’s one that many of us ask ourselves as we get older: can I afford to retire, and if so what do I do next?

I was contacted by a gentleman, Arthur who wanted to understand his retirement options. Arthur was desperate to retire; frankly he’d had enough of the stresses of working – which is a shame as I like people to work in some form during retirement because work gives us a lot more than just an income; connection and relationships, mental stimulation, purpose to get up each morning. However, he’s been working for his company for over 30 years but is ready to stop.

 
 
 
 

Spring statement and the economic outlook

I was speaking with someone recently about their financial planning and they were really concerned about Brexit. The media’s aim is to get you to buy their paper or stay on their website, and worry makes us do just that. If they told you everything was fine, you wouldn’t pay too much attention. But articles portraying the concerns around Brexit get people to focus… and worry.

It can be hard to see through the headlines; there’s an editorial slant on all the news we read, see and hear. Let’s try to take the emotion out of the subject – regardless of whether you feel Brexit is a good or bad thing – and look at what’s happening in the bigger picture.

 
 
 
 
 
Financial crisis 10th anniversary

Déjà vu All Over Again

Investment fads are nothing new. When selecting strategies for their portfolios, investors are often tempted to seek out the latest and greatest investment opportunities. Over the years, these approaches have sought to capitalise on developments such as the perceived relative strength of particular geographic regions, technological changes in the economy, or the popularity of different…

 
 
 

Year end tax planning checklist for individuals

There’s less than a month to go until the end of the 2018/19 tax year. However, there’s still time to consider some last-minute tax planning to maximise the use of an individual’s allowances, reliefs and exemptions for the current tax year. Some of these will be lost if not used before the tax year end. This year end tax planning checklist covers the main planning opportunities available to UK resident individuals and will hopefully help to inspire action to reduce tax for 2018/19 and 2019/20.

 
 
 

Your ‘House of Wealth’ needs solid financial foundations

Several years ago, I worked with a group of people to create a model called the House of Wealth: a graphical representation of your financial planning.  The foundations of the house include all the basics everyone should consider having in place to safeguard their (and their families’) future, we never know what’s around the corner.

There are eight elements to the foundations in total: three are essential (an emergency cash reserve, a will and a lasting power of attorney), and five are optional. They’re very important for some people, but unnecessary for others.

 
 
 

New tax year: changes are coming

Preparation and planning is key to good money management. Knowing what’s coming up means you can prepare and adjust before things happen, rather than rushing to get things arranged at the last minute. On 6 April the new tax year begins, so ahead of the inevitable flurry of advice in late March, here’s a look at the income-related changes that are on the way so that you can plan ahead.

 
 
 

How to turn £15k into £1m for your children

Anybody from a new-born baby until they are in their 60s can have a pension – you can even set one up in your baby’s name and pay into it from the day of their birth! The beneficiary can’t access their pension until retirement age, so your children can’t use it to buy a car or a house or to pay for university. So why would you consider starting one for your child?

 
 
 
 

Joined-up thinking: couples and finances

Money, like a relationship, is a very emotional thing. Put the two together and you’ve either got sweet sailing or stormy waters ahead. Discussing your thoughts and rules around money is important as a couple. You need to develop together in a financial sense as well as an emotional one. Based on over 20 years of working with couples and their finances, here are some tips on navigating the journey together.

 
 
 
 
 
 

Don’t Delay, self-assess today

The 31 January deadline for submitting online self-assessment tax returns is suddenly looming large. If you’re not one of the 10,000 or so people who submitted their returns on Christmas Day or Boxing Day – no, me neither – and you still haven’t done it yet, then it’s time to get moving on your return.

January 25, 2019 Events, Organisation
 
 
 
 

Jeff Bezos interview

Amazon was the first trillion dollar company in the world ever!  Not many people know who founded the company, or anything about the man behind Amazon, the company that influences the lives of so many of us. Here is one of my favourite interviews with Jeff Bezos, where he opens and speaks freely about so…

January 8, 2019 News
 
 
 
 
 
 
 

How likely is the world to witness the next financial crash in 2019/2020?

When we speak about the future direction of the stock market, we are always guessing, we really don’t know with any confidence or certainty what will happen to the markets in 2019/20, we may have a feeling, based on the news articles we read, but if we read a different set of articles we’d have a different outlook about the market direction.