Category Archives: inflation

The longevity challenge and how to tackle it

In the UK, we are faced with the challenge of an ageing population. Many of us will live longer than we might have expected. Already, 2.4% of the population is aged over 85. Because of improvements in healthcare and nutrition, this figure only looks set to rise.

The Office of National Statistics currently estimates that 10.1% of men and 14.8% of women born in 1981 will live to 100. A demographic shift to an older population brings unprecedented change to the way the country would operate, from the healthcare system to the world of work.

In addition, a long life and subsequently a long retirement, bring challenges of their own from a personal financial planning perspective.

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END OF SUMMER REVIEW 2018

This time last year we produced our first End of Summer Review. We described it as a ‘reflection on some key events over the last few months’: would they, we wondered, ‘give us an idea of what might happen in the run up to Christmas?’

First of all, let’s reflect on what the world looked like 12 months ago. Continue reading

Interest rate rise: What does this mean?

The Bank of England has raised interest rates from 0.5% to 0.75%, only the second rise in a decade. Currently, interest rates stand at their highest since 2009 and reflect what the Bank of England perceive as a general pick-up in the economy. Continue reading

The ISA deadline approaches: making the most of your allowance

It may seem as though the year has barely begun, yet the month of March is already upon us. That means that spring is just around the corner. It also means that the ISA deadline of 6th April is rapidly approaching.Individual Savings Accounts (ISAs) are tax-free savings accounts open to anyone over the age of 16 to deposit their savings each year. With attractive savings allowances, ISAs have become very popular with people across the UK intent on building a nest egg for their future. Continue reading

Hints that interest rates could rise

Figures released at the end of January revealed that the final quarter of 2017 saw the economy expand by 0.5%. The Bank of England has now indicated that the pace of interest rate rises could speed up if the outlook remains positive.Although Mark Carney and his colleagues voted to keep interest rates on hold at 0.5% at their latest meeting, they did indicate that the rates will need to rise “earlier” and by “a somewhat greater extent” than previously thought. As a result of the Bank’s comments, the value of the pound jumped by about 1% against both the dollar and the euro. Continue reading

4 steps to stop inflation eating your savings

According to the Consumer Price Index, inflation is currently at 3%. This is the highest rate for over five years, meaning household budgets are being stretched further and further as the average pay is going up by just 2.2%. As the Bank of England has just announced the first base rate rise in over a decade, the pressure is likely to be on even more as mortgage costs will go up for many people as a result. So, here are our top tips to help you ease the impact of inflation upon your income. Continue reading