How to avoid the mid-life savings crisis

Piggy bank

Recent research has revealed that almost one in five people (18%) in their 50s and 60s are failing to save anything towards their retirement thanks to the rising cost of living and stalling wage growth. Described as a ‘mid-life savings crisis’, it means that millions of people close to retirement age are unaware of how much they will need to pay into their pension pot in order to live comfortably once they finish working. Continue reading

What will be the impact of the Brexit divorce bill?

Thanks to the ‘breakthrough’ deal struck in early December last year by Prime Minister Theresa May with the EU, we now know that there will not be a ‘hard border’ with Ireland, that the rights of both EU citizens in the UK and UK citizens in the EU will be protected, and that the ‘divorce bill’ figure will be somewhere between £35 billion and £39 billion. Since before the EU referendum result was known at the end of June 2016, the ‘divorce bill’ – the money the UK will need to pay to the EU as a result of Brexit to cover its financial liabilities – has been a hot topic of debate. Continue reading

January Market Commentary

Another year seems to have flown by in the space of about five months. December, in particular, seemed to go past in a blur.

It was, however, the month when some progress was – finally – made in the Brexit negotiations. It was also the month when Scotland used its tax-raising powers to increase income tax, when Germany worried about Chinese spies using fake LinkedIn profiles and when yet more sanctions were heaped on the North Korean regime – which were predictably condemned as an ‘act of war’. Continue reading

What will the doubling of the EIS investment limits mean?

 

One of the key points for businesses from the Autumn Budget was Chancellor Philip Hammond’s announcement that the Enterprise Investment Scheme (EIS) is set to receive £2.5 billion of public money through facilitation of pension fund access to long-term investment. The investment limits for the EIS will also be doubled for ‘knowledge-intensive’ companies. This means that £2 million of investment will be eligible for tax relief, up from the current limit of £1 million. Mr. Hammond also stated that the government would ensure that the scheme did not become a shelter for risk-free assets as a result of the limit increase. Continue reading

What does the Budget mean for businesses?

 

After delivering a Budget in March which many saw as a thinly-veiled attack on small businesses and self-employed workers, Philip Hammond’s first Autumn Budget was his chance to make amends with those who had been on the receiving end of his less popular decisions earlier on in the year. In many ways, the Budget delivered by the Chancellor on 22nd November attempted to do just that. Continue reading

What will be the impact of the Brexit divorce bill

 

Since before the EU referendum result was known at the end of June 2016, the ‘divorce bill’ – the money the UK will need to pay to the EU as a result of Brexit to cover its financial liabilities – has been a hot topic of debate. It continues to be so, with the latest reports of a figure somewhere around €55 billion having been agreed by the government emerging at the end of November. Downing Street have dismissed this figure, but even if we don’t know the exact amount, it seems likely that an agreement on the way the divorce bill will be calculated has been reached, in order to allow other points of negotiation to progress. Continue reading

December Market Commentary

November was a relatively disappointing month for world stock markets, with the majority of the markets we cover in this commentary losing ground in the month: however, the largest fall was just 3% so there were no real disasters. Pride of place went to the Dow Jones index in the US, which was up by 4% in the month as the President toured the Far East, intent on doing ever more trade deals. Continue reading

5 Financial Goals for the New Year

 

Whether or not you’re the kind of person who sees the start of January as the time to set yourself resolutions and stick to them, the period after the excesses of Christmas and New Year is arguably one of the best times to actively get your finances into shape. Here are five great money-related resolutions it’s definitely worth committing to in order to make 2018 the year you take control of your money. Continue reading

4 top tips to make your retirement savings last

When it comes to saving for when you retire, at the very least you want to ensure that you’re going to have enough to pay for your living costs for the rest of your life. However, what you probably want to be aiming for is a nest egg which allows you to truly enjoy your life after work and do all the things you’ve planned for as you’ve saved. Some pensioners find themselves in a position where they have to compromise on what they can do during their retirement simply because of a lack of funds. So here are our top tips for retirees to help avoid finding yourself in that position. Continue reading