If you want to give your children and grandchildren a gift they will never forget, consider opening or topping up a pension for them. I know how important the children and grandchildren of my clients are to them, and it’s only natural they want to do something to help them financially. Although before investing for […]
Category: Retirement & Pensions, Saving & Investing
If you’re anything like me, you won’t like surprises. When you expect one thing, and another happens I get disappointed. So how do you feel when you think about pensions? I know they’re not the most exciting thing in the world, they are one of life’s ‘needs’ not ‘wants’, people don’t wake up in the […]
Category: Retirement & Pensions
There were 90,871 divorces in England & Wales in 2018 and 6,873 in Scotland, although divorce rates as a proportion of marriages are at their lowest rate in nearly 50 years. Of course, 2020 could buck that trend as we’re spending far more time together under one roof, working, playing and perhaps arguing. So if the worst happens in a marriage, what happens to our pensions? There are three methods by which pension benefits are taken into account on divorce, each with their own considerations.
Category: Financial Planning, Retirement & Pensions
The state pension age is currently 66 years old, and it will rise to 67 between 2026 and 2028. There have been several changes to pension ages in recent years, causing confusion and anger. Knowledge is power, so it’s important to know what you’re entitled to, and when.
Category: Retirement & Pensions
Scammers targeted pension pots large and small, with individual losses ranging from under £1,000 to as much as £500,000. The average victim was described as a man in his 50s – but this could happen to anyone, so what can you do to avoid it happening to you?
Category: Financial News & Events, Retirement & Pensions
How much is enough for you to retire? What’s your number? None of us are getting any younger and time flies faster as we age, so it’s important to plan ahead for retirement, a period of our life that could last 40 years. My wife gets frustrated with me when I spend more time planning […]
Category: Retirement & Pensions, Saving & Investing
Thousands of married women who reached state pension age before 6 April 2016 have been underpaid their state pension for more than two decades. Documents revealed in the budget last month highlighted that approximately 200,000 pensioners have potentially been underpaid up to £3bn between them in state pension entitlement, with individuals entitled to an average pay out of £13,500 to make up the shortfall.
Category: Retirement & Pensions
I am often asked, usually as a passing comment when people know what I do: how much do I need for retirement? Although it’s a simple question, the answer is complex. However, the clever folks at Fidelity have done some research, and their views can act as a useful barometer for your pension planning. […]
Category: Retirement & Pensions
Three significant events recently had me thinking about how quickly time passes.
In April 1988, the first Boeing 747-400 flight took place. The second event was the 30th anniversary of East and West Germany unifying. Finally, when Apple launched the iPhone 12, it took me back to June 2007 when the first iPhone was released.
Such events are good reminders that while our attention is often on our present worries, like paying the bills and simply getting by, life marches on. Sometimes, we have to make decisions now to give ourselves a better future. Financially, that means investing. So what would have happened If I had invested during these milestones?
Category: Financial Planning, Retirement & Pensions, Saving & Investing
The many changes to the state pension age has caused confusion and anger among thousands of people approaching retirement over the years. From December 2018 both men and women have, for the first time, a state pension age of 65, and now both men and women’s state pension ages will increase together. In October 2020 the state pension increases to 66 and will gradually rise to age 67 between 2026 and 2028.
Category: Retirement & Pensions
Not surprisingly, I’m a big believer in planning. That’s especially true when it comes to the golden years of our retirement. But will those years really be golden, or more like copper?! I am in the fortunate position to have met and shared the retirement plans of thousands of couples over my 25 years as […]
Category: Retirement & Pensions
In the run up to most Budgets it is common to hear rumours suggesting some form of cut to pensions tax relief, however, this year it seems more likely than usual. Discover how to maximise higher rate relief before the tax year end.
Category: Retirement & Pensions
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
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 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
If you are employed your employer should have in place a workplace pension scheme, which is most likely a personal pension. The rules say there are three types of employee to consider for a workplace pension depending on your age and income, find out more.
Category: Financial News & Events, Retirement & Pensions
We’ve now got auto-enrolment helping most of us save for retirement. But what if you’re in your 40s or older, and don’t have much of a pension pot built up yet? Read this article to find out more about how to get organised and save for your retirement.
Category: Retirement & Pensions, Saving & Investing
Running out of money in retirement is a scary thought, as we age we feel more fragile and venerable, a secure pension income during our retirement years gives us peace of mind, but how much should you be saving?
Category: Retirement & Pensions
Do you remember that you were automatically enrolled in your employers’ workplace pension scheme some time ago? Well, the payments which are made into this scheme are increasing this month, so you’ll see a change in your payslip, but it’s not all bad news.
Category: Financial News & Events, Retirement & Pensions
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?
Category: Financial Planning, Retirement & Pensions
Step by step is the way to get on top of your money matters
January 15, 2023
Change up your money habits in 2022
January 6, 2023
Looking back on 2022 to move forward in 2023
December 27, 2022
A gift your grandchildren won’t forget
December 18, 2022
Saving up doesn’t mean you need to be Scrooge
December 11, 2022
