Self-employed protection
Posted by siteadmin on Monday 22nd of May 2023
Being self-employed can be a rewarding and fulfilling career choice, allowing freedom to work to your terms and pursuing passions. However, it also comes with its challenges, one being financial insecurity. Unlike those working within a company, if you’re self-employed you are responsible for your own financial stability. This means taking the necessary steps to protect yourselves from unexpected events.
While it may seem like an added expense, the cost of financial security is a small price to pay for the security it provides. Most of us d...
Investing for children
Posted by siteadmin on Thursday 11th of May 2023
As a parent, you want to do everything you can to ensure that your children have a bright and secure future. One way to do this is by investing on their behalf. Not only can they start adulthood with some savings, but getting children involved early with saving also helps them learn important lessons about money.
The earlier you start investing, the better. Time is a powerful tool when it comes to investing, and the longer you have, the more time your money has to grow. Even if you can only contribute a small amount each month, starting ear...
The cost of single parenting
Posted by siteadmin on Thursday 11th of May 2023
Why single parents need to be more financially savvy than ever
Lisa is a university lecturer and a keen kayaker in her early 50s. She’s also a single mum to two teenage daughters – Lila and Eliza. Lila is in the final year of her A-levels and Eliza is in the first year of her GCSEs. Both daughters are very academic – Lila wants to be a doctor and Eliza a vet.
With the cost-of-living crisis showing no signs of lessening its grip, despite earning over £50,000 a year, Lisa is finding she has less and less disposable income at the end of...
Women's Pension Deficit
Posted by siteadmin on Thursday 11th of May 2023
The pension deficit or gap is the difference between the retirement income you have and what you need to maintain their standard of living in retirement.
In recent years, there has been growing concern about the pension deficit faced by women. Despite progress in gender equality, women are still facing significant challenges when it comes to retirement savings and are more likely to retire with less money than men. This can have a major impact on their quality of life in retirement.
There are several reasons why women face a pension defici...
Start of the tax year checklist
Posted by siteadmin on Thursday 6th of April 2023
The new tax year on 6 April 2023 is a great time to review your finances.
The new tax year means annual allowances are reset and ready to be reused – to help you make the most of your money. This year more than ever, with interest rates and inflation on the rise, it’s a great time to review your pensions and investments.
Note: The following figures apply to the 2023/2024 tax year, which starts on 6 April 2023 and ends on 5 April 2024.
ISAs
The maximum you can invest across your ISAs is £20,000 (if it’s a cash ISA, stocks and shares ISA or ...
3 important reasons for staying invested through market downturns
Posted by siteadmin on Wednesday 29th of March 2023
It’s been a difficult year for investors so far. Inflation and political uncertainty have led to market volatility.
Market volatility can be scary, especially if the value of your investments drops, but it’s important not to let fear guide your decision about whether to stay invested in your portfolio. Here are three reassuring reasons for staying invested in the stock market during uncertain times.
1. The best financial decisions are not based on emotion
Emotions can play a big role in your financial decision-making if you aren’t vig...
Decumulation: Why a plan is crucial when you start to spend your wealth
Posted by siteadmin on Wednesday 29th of March 2023
Making your retirement savings last a lifetime
To help ensure a sustainable income, you first need to understand how much you’ll need to live on.
- On the go – during the early stages of retirement, there’s a strong likelihood that you’ll spend more on travel, hobbies, or home improvements
- Slowing down – while you may be slightly less active, you’re still busy with hobbies, but you may be less inclined to long-haul travel
- Coming to a stop – in later life, your mobility may be more limited, and you may require care.
Structurin...
Tips to finding your first home
Posted by siteadmin on Monday 27th of March 2023
Searching for your first home can be an overwhelming experience, but when it’s the biggest purchase of your life, you need to ensure that it’s right for you. There are so many things to consider, so to help you with one of the biggest decisions in your life, we have drawn up some helpful tips and guidance when finding your first home.
Start with an open mind
There is the danger of becoming too fixated on certain locations or certain properties. It’s important to be open when searching for your first home, ensuring that you’re considering a...
The cost of moving home
Posted by siteadmin on Monday 27th of March 2023
Buying a home comes with extra costs and fees you need to be aware of – from securing your mortgage to booking the removal van.
Whether you’re a first-time buyer, downsizing or moving to your dream family home, it’s an exciting – and busy – time. It also comes with costs that could take you by surprise, so here’s a look at the ones you’re likely to come across and how we can help you through the journey.
Advice fee
We can help when you’re applying for your mortgage in principle, putting you in a strong position once an offer is accepted. ...
First-time buyers guide to saving for a house deposit
Posted by siteadmin on Thursday 23rd of March 2023
When preparing to buy your first home, saving for a deposit can be a difficult process. As house prices, inflation and the cost of living increases, it can be challenging trying to save a large sum of money. It’s also important to consider all the other costs that are involved in buying a property – conveyancing, legal fees, insurance policies and moving to name a few.
How much do I need to save?
A 5% deposit of the property value is the minimum amount you are able put down, however your options may be limited. The larger deposit you can p...
