Living a healthy lifestyle over a prolonged period significantly reduces the risk of developing various diseases as we age. This concept is rooted in the idea that our daily habits and behaviours profoundly impact our long-term health outcomes.
Distributing assets or cash without contributing to your estate’s overall value for Inheritance Tax purposes
In the unfortunate event of one’s passing, there’s a possibility that HM Revenue & Customs (HMRC) may levy an Inheritance Tax (IHT) bill on the deceased’s estate. The estate’s total value determines the sum due after deducting any debts and applying all possible thresholds. Two thresholds that come into play are the nil rate band (NRB) and the residence nil rate band (RNRB).
Securing your family’s financial future is a multifaceted responsibility beyond merely accumulating savings and making long-term investments. It encompasses the creation of a comprehensive plan that ensures the wellbeing of your loved ones, even in the face of unexpected adversities.
Recent studies indicate that approximately half (49%) of non-retired Britons plan to extend their working lives beyond the age at which they’ll receive their State Pension[1], equivalent to approximately 19.2 million individuals[2].
Strategic diversification of your investments can be your first line of defence
The world of financial markets is a fascinating and ever-changing landscape. Much like the weather, the climate of these markets can shift rapidly. One moment, everything might be calm and sunny, with investors full of optimism and bullish about the future. Then, a storm may roll in the next moment, causing the same investors to scramble for cover and reassess their strategies.
A growing trend among mid-lifers prioritising their future financial stability
A recent study reveals a promising trend among 45- to 54-year-olds in the UK[1]. Six out of ten individuals in this age group are actively working towards bolstering their retirement savings[2]. These mid-lifers are prioritising their future financial stability, implementing changes in their current spending habits to ensure they can support themselves later in life.
Unclaimed pensions could mean thousands of pounds added to your retirement fund
Navigating the world of pensions can be challenging, particularly when you’ve participated in various schemes or shifted jobs throughout your working life. Pension plans may close, merge or change names as time progresses, adding to the complexity. It might have been rebranded even if you recall your scheme’s original name.
Make sure your loved ones are looked after should the worst happen
Significant life changes, such as getting married, having a baby and buying a property, are key times to consider protecting your family’s future. Life insurance assures that your loved ones won’t face financial stress in your absence and this peace of mind is not confined to those earning an income.
If something sounds too good to be true, it probably is
Investment scams are a rising concern, promising potential investors the allure of making a significant amount of money swiftly and effortlessly. These scams often involve minimal to no risk investments in various areas such as financial markets, property, cryptocurrencies, and precious metals and coins.
Are you sure your target retirement age aligns with your financial status?
In today’s fast-paced world, the concept of retirement often takes a back seat. For many, it remains a distant reality, mired by uncertainties and apprehensions. However, planning for retirement is an essential aspect of financial planning, which warrants attention from an early age.
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