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How To Spend More In Retirement
You might want to spend more in retirement but are afraid to do so. The problem is, if you don’t start spending more you may find you don’t get to do all the things you want to in life. Whilst we don’t know what the future is going to look like, with a little...
What Money Really Is
Money is not the units of currency that you own. Money is purchasing power. It is the tool you use to experience the products and services you buy. Money cannot be kept safe in a bank account or under the mattress. Someone who tells you they had £1million 20...
Going Going Gone – Budget 2023
The Budget 2023 was all about pensions. Whether you are contributing, withdrawing, have a defined benefit pension or a defined contribution pension there was something for everyone. What was said in the Budget 2023 After rumours the pension Lifetime Allowance...
Should We Downsize In Retirement?
They say your home is your castle and the thought of selling and downsizing in retirement doesn’t appeal to some. Your forever home can be very hard to part with, especially if there are lots of memories and wealth built up in the house. However, the wealth tied up...
Last Minute State Pension Boost
At the time of writing there are just a few weeks left to secure yourself a State Pension boost. When the new State Pension system was launched in 2016 transitional rules were put in place. This allows people to sort out gaps in their National Insurance record going...
National Insurance Credits For Grandparents
If you are a grandparent and are missing years to qualify for the full State Pension, then you may be able to apply for National Insurance credits for grandparents. You normally need to have paid 35 years of National Insurance contributions to get the full State...
Why You Should Invest Even If You Have All The Money You’ll Ever Need
If you have already saved all the money you think you will ever need then you might wonder why you should invest and put up with all the volatility. Why invest your money and see periods where the value falls significantly when you can just keep it all in a cash...
What Happens To Your Pension When You Retire
What happens to your pension when you retire will depend on what type of pension you have. Usually, nothing happens immediately and you have the choice as to when you take your pension and how you use it. In this article, ‘retirement’ assumes you are above minimum...
Why New General Investment Account Tax Rates Are Going To Be Damaging
New general investment account tax rates set out in the Chancellors 2022 Autumn Statement are going to be damaging for your wealth. Cuts to the dividend and Capital Gains Tax allowances will mean more of your investment returns will be lost if investing outside of...
How Much Money You Can Gift To A Family Member Tax Free
How much money you can gift to a family member tax free will depend on how they are related to you. Gifting an unlimited amount of money to a spouse or civil partner will be tax free. Tax free gifts to all other family members will usually only be possible if they...
6 Things To Check Before Combining Your Pensions
Combining your pensions is usually a good idea if you have had multiple jobs over the years. Before you go ahead and do it though, there are some key bits of information you need to find out. Older pensions can have some valuable benefits which could be lost on...
The Age You Can Take Your Defined Benefit Pension
If you have a defined benefit pension did you know that you don’t need to wait until ‘normal retirement age’ to take the benefits? Receiving your pension income early could mean you can retire early! There is a catch though. As the pension will be paid for longer...
Do You Have A Death Box?
You may not have heard of a death box before and no I’m not talking about a coffin! Picture the rather morbid scene. You’ve died suddenly in an accident and the police are at your door informing your loved ones that you have gone. What happens next? Whilst your loved...
Taking Pension Tax Free Cash In Phases
When thinking of taking money out of your pension you do not need to take your pension tax free cash lump sum out in one go. The first time you take money out of your pension you will usually have the option to take a proportion as a tax free cash lump sum. The...
Is My SIPP Safe?
There have been quite a few examples in recent times of SIPP (Self Invested Personal Pension) providers going bust which may lead you to ask, is my SIPP safe? Hartley Pensions Limited, Rowanmoor Personal Pensions Limited and Corporate and Professional Pensions...
Growth vs Income Funds in retirement
If you have a defined contribution pension and have chosen to drawdown from it in retirement as opposed to the alternative options then one decision you need to look at is growth vs income funds. Unlike defined benefit pensions, defined contribution pensions have no...
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