Key traits for successful wealth-building

Developing an investment strategy tailored to your goals

Committing to a financial plan is crucial for building wealth and achieving long-term financial goals. When you have a plan, you are more likely to stay focused on your objectives and take the necessary steps to reach them.

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Preserving wealth for future generations

Starting estate planning early and implementing it in stages is desirable

The UK Treasury has been receiving record-breaking Inheritance Tax (IHT) receipts. IHT receipts amounted to approximately £7.09 billion British pounds in 2022/23, compared with £6.05 billion in the previous financial year[1].

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Will you make the right decisions around your pension pot?

Why defined contribution pensions are even more appealing for wealth transfer

The announcement of the removal of the Lifetime Allowance (LTA) from the 2024/25 tax year in March’s Spring Budget 2023 has made defined contribution pensions even more appealing for wealth transfer. This benefits individuals over 55 who intend to leave their tax-free lump sum intact with their pension to maximise their benefits.

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Building a reliable income stream for your golden years

Make sure you maximise your retirement income through annuity shopping

When it comes to using your pension pot, buying an annuity is one option that provides a regular and guaranteed retirement income for either your lifetime or a fixed term. However, it’s important to note that purchasing an annuity is typically an irreversible decision.

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Investment bonds

How bonds’ structure and tax advantages can help you pass on wealth

Investment bonds offer several benefits that some investors may be missing out on, and have become even more beneficial due to recent changes in tax regulations following the Chancellor’s decision to reduce the Capital Gains Tax (CGT) Allowance from £12,000 to £6,000 this year and to £3,000 in April 2024.

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Missing out on unclaimed money that could be in your pocket?

£1.3 billion pension tax relief unclaimed by pension savers over a five-year period

According to recent research, higher rate and additional rate taxpayers in the UK leave millions of pounds of pension tax relief unclaimed yearly[1]. This amounts to a staggering total of £1.3 billion over a five-year period. This unclaimed money could be in your pocket instead.

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Saving for the next generation

Taking proactive steps in securing your child’s or grandchild’s financial future

Many parents and grandparents set aside money for the next generation to help with their financial needs. The rising cost of education, housing, and life in general, has created concerns about financial stability for future generations.

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Money and divorce

Untangling your finances and navigating the financial aspects of divorce

Divorce is a complex process that often comes with various financial considerations, and preparing for a divorce is undoubtedly challenging, especially when it involves untangling your finances. The emotional strain can make it difficult to make clear-headed decisions, and the long-term consequences may not be immediately apparent.

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Cost of care in later life

Choosing the best option for yourself or your loved ones

The costs of care in later life can vary greatly and depend on a multitude of factors. Notably, the type of care required, the individual’s financial situation and their location within the UK play a significant role in determining these costs

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Retirement cash flow modelling

Assessing your current and projected wealth, income and expenses

Retirement planning is of utmost importance, regardless of your income or wealth. It ensures a steady income stream after retirement and provides financial security for you and your loved ones.

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Preparing the next generation to engage with their finances

How to help with money management and financial literacy

Passing on the benefit of your experience to your children or grandchildren is crucial for their future success. However, financial planning can be complex, and even the most knowledgeable individuals may need help.

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How to reduce the impact of inflation on retirement income

During periods of economic uncertainty, it’s advisable to reassess your retirement plan

Living on a fixed income, such as a pension, during high inflation can be challenging. As costs rise, your monthly income remains the same, potentially causing your pension pot to deplete faster than anticipated and impacting your retirement standard.

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Macro trends impacting weddings in 2023

Main pressures are rising costs and unexpected expenses from suppliers

The cost of living crisis, inflation and social media pressures are causing couples to go over budget on their special day. Rising costs and unexpected expenses from suppliers are the main reasons for increased spending. According to new data, several macro trends have impacted weddings in 2023[1].

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Do our later life dreams really become retirement reality?

Taking the necessary steps towards a fulfilling retirement

UK adults aged 50 and above were asked about their retirement dreams and whether they had turned out as planned. The survey revealed various insights into retirement hopes, realities and the importance of preparation[1].

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Gap in knowledge and uptake of Power of Attorney

Protecting individuals and facilitating smoother decision-making processes

Recent data highlights a concerning gap in knowledge and the uptake of Power of Attorney in the UK[1]. While 95% of adults know of its existence, only one in three truly understand how it is utilised in practice.

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