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Readers Question: Can I use my spouse’s tax allowance?

Readers Question: Can I use my spouse’s tax allowance?

November 15, 2019

The first £12,500 of any income we earn is free of income tax, what seems unfair is that if one of you stays at home and does not have any earnings, then their £12,500 of tax-free allowance is left unused.
Many people don’t realise that since April 2015 you can apply to get a refund in these circumstances whree you could save £1,149 of income tax.

Category: Financial Planning, Money Management

 
 
Good-bye Help to Buy

Good-bye Help to Buy

November 8, 2019

If you want to open a Help to Buy ISA, you will need to be quick because the Help to Buy ISA is due to close to new customers on 30th November. However, don’t despair the successor to the Help to Buy ISA was launched back in April 2017 and is well underway, so until the end of the month, you have two options to help you save for your first home, the Help to Buy ISA and the Lifetime ISA, often referred to as the LISA. So, what’s the difference between these two ISAs?

Category: Financial Planning, Saving & Investing

 
 
Styles of Investing; Active or Passive

Styles of Investing; Active or Passive

November 8, 2019

Before I became a financial planner, investing was all about making money and buying a ‘hot stock’, 25 years later, I reflect on my naivety and appreciate how others may also be thinking this and asking themselves what is the right way to invest?

Category: Saving & Investing

 
 
Early retirement with a defined benefit pension

Early retirement with a defined benefit pension

November 3, 2019

A defined benefit pension is the gold standard of pensions, the scheme promises you a guaranteed income at your agreed retirement age for the rest of your life, the amount of income you receive will rise in line with inflation and the amount you receive is based on the number of years you were a member of the scheme and your pensionable salary.

These schemes offer benefits, which for the majority of cases mean that they are best left alone until your scheme retirement date, however, if you wanted to retire early, should you take benefits early?

Category: Retirement & Pensions

 
 
The taxing decision of pension withdrawals

The taxing decision of pension withdrawals

November 1, 2019

A reader recently emailed in with a question about his and his wife’s SIPP pension. The question surrounded the readers’ wife, who is a nontax payer now, and is likely to remain a nontax payer. Find out how this could affect your own pension withdrawals.

Category: Retirement & Pensions

 
 
 
How to save for your first home!

How to save for your first home!

October 18, 2019

With the average cost of a property in the UK for a first-time buyer at £210,000, it’s difficult for millennials to get onto the housing ladder without the help of mum and dad, so I wanted to share my thoughts about how you can save to get on the property ladder.

Category: Financial Planning, Saving & Investing

 
 
Investment Risk…  what is it?

Investment Risk… what is it?

October 11, 2019

Investment risk is probably the most important area of clarification, between a financial planner and client. I know there are many other areas, which seem important, and they are, I am not reducing their importance, but if there is a single area of potential dissatisfaction for a client, then investment risk is the one!

Category: Saving & Investing

 
 
Gold: Is it a golden investment? or has the shine worn off?

Gold: Is it a golden investment? or has the shine worn off?

October 8, 2019

Gold, some like wearing it, others worship it, and some buy it as an investment, but is it right to buy gold as an investment? To answer this question, I guess it makes better sense to first define what an investment is, what gold is and see how it has performed based on an alternative.  Then we can make our own minds up, based on the facts.

Category: Saving & Investing

 
 
How to save £1million for your retirement

How to save £1million for your retirement

October 4, 2019

How much do you need to save for retirement? The answer to this question is probably, more than you think. Many financial experts would start with £1 million, which is likely to provide you with a taxable income of around £40,000pa. So how much do you need to earn & save in order to reach this target?

Category: Retirement & Pensions, Saving & Investing