Putting a retirement plan in place. If you’re in your late fifties/early sixties and starting to think about retirement, there is certainly a lot to think about! The important thing is to first get an idea of what level of income you will need in retirement so that you can comfortably enjoy your well-deserved leisure [...]
I would urge you now to start planning for your next tax return. Don't leave it to the last minute and avoid all that last-minute stress. Recent figures from Her Majesty's Revenue and Customs (HMRC) show that over 93% of people who were required to submit a self–assessment tax return did so by the closing [...]
If you are researching how to pay for long-term care, for yourself or a loved one, then we can help you. We are a firm of Independent Financial Advisers (IFA’s) that specialise in Later Life issues, offering unbiased expert advice. How will an Independent Financial Adviser help? As a firm, we have a team that [...]
How to save money by remortgaging. As a home buyer, you could easily cut your monthly mortgage cost by moving from a standard variable rate (SVR). The SVR is the rate your mortgage defaults to after the initial rate. This might have been a discounted rate or a short term fixed rate. It can also [...]
For homeowners with an interest only mortgage, these can be worrying times. Many will not have a repayment plan and could be looking at an uncertain financial future. The worst affected are people coming up to retirement. They are likely to have taken out an endowment plan which was designed to repay the capital amount [...]
Many financial planners fear that people are paying more tax than they need to because they do not fully understand the rules around withdrawing money from their pension. Firstly, when "pension freedoms" came into force back in April 2015, one of the key changes was the introduction of what is known as "Flexible-Access Drawdown". Meaning [...]
Figures released from the Financial Conduct Authority (FCA), show that nearly 40% of borrowers taking out a new mortgage will be over the age of 65 by the time the loan is repaid. Why is this happening? With property prices increasing, first-time buyers are often having to wait until their thirties before they buy their [...]
By John Cossons, Equity Release Adviser with Anstee & Co. This article is based on a real equity release case. A 71-year-old client of mine had sold her property and was looking for a new house closer to her family. In an ideal world, she would have loved to buy a bungalow. However, she did [...]
If you have a pension, do you know how much you have saved or more importantly, what level of income will it produce for you in retirement? Firstly, have you reviewed those old pensions from past employers? If the answers “I’m not sure”, then follow these top tips about, questions to ask about your pension [...]
Whether it’s called Estate Duty, Capital Transfer Tax or now Inheritance Tax (IHT) death duties have been around for centuries. The purpose of these taxes has always been the same. To raise revenue for the Chancellor. Initially, the tax was aimed at only the very rich but over the years the bar has lowered with [...]
