Costs of later-life care

Establishing a thorough wealth strategy is key to ensuring financial readiness

The financial implications of care in later life are often underestimated, leaving many unprepared for the substantial costs associated with care homes. Establishing a thorough wealth strategy is key to ensuring financial readiness for long-term care needs.

Changes to Individual Savings Accounts in 2024

Why savers and investors now have a more flexible approach

Individual Savings Accounts (ISAs) offer a versatile and tax-efficient way to save for the future, whether for yourself, your children or grandchildren. Now that we have entered the new financial year, on 6 April 2024, significant changes to ISAs have been introduced.

Enhancing pension contributions for a brighter future

New tax year, new you? Maximise your pension savings this new tax year

As we embark on the new tax year, it presents an opportune moment to review your pension savings strategy, setting a solid foundation for future financial stability. Early attention to your private pension at the onset of the fiscal year is not just about cultivating beneficial saving habits; it’s also about ensuring you fully exploit the benefits and allowances available to you.

Navigating Inheritance Tax

How to pass on assets to the next generation to secure their future for tomorrow

Inheritance Tax (IHT) represents a significant consideration for anyone looking to pass on assets to the next generation. As of the 2024/25 tax year, IHT incurs a 40% charge on the portion of an estate exceeding the nil rate band of £325,000, excluding transfers to a spouse or registered civil partner.

Rising trend of unretirement

14% of those aged over 55 have found themselves re-entering the workforce

In recent times, a significant portion of retirees, specifically 14% of those aged over 55, have found themselves re-entering the workforce, driven by the inadequacy of their pensions to meet rising living costs, according to new research[1].

Understanding pension uncertainties

Survey highlights prevailing uncertainty among those on the cusp of retirement

A recent study reveals that a considerable proportion of UK adults, including a significant number nearing retirement, find themselves in a quandary regarding their State Pension entitlements and the commencement of their payments[1].

Generational wealth perspectives

Whether through property, pensions or a blend of both, informed decision-making is crucial

A recent study suggests that a substantial proportion of Generation Z, born from 1996 to 2010, view property acquisition as their principal avenue to amass wealth for their retirement years [1]. This perspective is slightly more prevalent within this demographic than the reliance on pensions, with 33% of Gen Z individuals planning to utilise property as a retirement fund compared to 30% who favour pensions.

Troubling trend amongst UK workers

Prevailing issue of presenteeism highlights a need for a transformation in workplace culture

In an era where the lines between work and personal life are increasingly blurred, a new study sheds light on a concerning trend among UK employees. Despite advancements in workplace policies and a growing emphasis on mental health and wellbeing, a significant number of workers are still pushing themselves to work even when they are not in full health.

New pension tax framework

Pivotal shift changes you need to know commenced from 6 April 2024

Beginning on 6 April 2024, a pivotal shift in pension benefit taxation commenced. The Lifetime Allowance (LTA) was replaced by a new structure comprising three distinct allowances: the Lump Sum Allowance (LSA), Lump Sum and Death Benefit Allowance (LSDBA), and Overseas Transfer Allowance (OTA).

Unveiling the core principles of investing

Timeless beacons guide investors through periods of market volatility towards financial prosperity

In finance, the core investing principles stand as timeless beacons, guiding investors through periods of market volatility towards financial prosperity. These principles, distilled from the wisdom of centuries and the hard-won experience of investment titans, serve not merely as strategies but as foundational truths that underpin the very art and science of investing.