Two in five over-55s plan to gradually phase out working life before State Pension age
Semi-retirement is an option to consider for individuals who may not be ready to fully retire, but still wish to reduce their work hours and gradually phase out working life. By choosing to semi-retire, you can maintain a good work-life balance while still earning an income.
Chancellor Jeremy Hunt’s first proper Budget 2023, on Wednesday 15 March, brought some welcome but unexpected changes to pension tax. The changes are designed to alleviate the impact of strict pension rules, which are believed by Mr Hunt to have had a negative impact on the country’s labour market.
April brought a host of changes to the UK’s tax regime, with some thresholds for taxes such as additional rate Income Tax being lowered while others, such as Corporation Tax, are increased.
Making informed decisions about how to best allocate your resources
Financial planning is a crucial step towards achieving financial freedom and security. By taking the time to thoroughly evaluate your needs and personal goals, you’ll be able to make informed decisions about how to best allocate your resources.
More than 24.5 million people are financially disengaged
Do you often review your finances? Or are you one of those people who just hope for the best? Although managing finances may not be the most exciting activity, keeping track of your financial wellbeing can make a significant difference to your life, both in the present and in the future. Taking control of your finances will enable you to meet your financial goals and improve your overall financial health.
50% of British adults admit to having checked the value of their parents’ property
With house value data now easily available to access online, it’s interesting to see that so many are using this, not just to get an idea of what their own home may be worth, but to get an idea of the sort of amount they may get in terms of parental inheritance in the future.
Investing could help you beat inflation and build a nest egg for the future
Investing can be an intimidating and complex topic, but it doesn’t have to be with professional financial advice. Understanding the basic truths of investing will help you make better decisions, regardless of how much money you may or may not have.
One in twelve grandparents use property wealth to support grandchildren
There’s no denying that grandparents have a wealth of knowledge and life experience to offer their grandchildren, but increasingly, they’re also able to provide much-needed financial support. With housing prices remaining sky-high, many homeowners are turning to the value in their homes as a way to give their grandchildren a living inheritance.
How to ensure that your wealth is preserved for future generations
Are you concerned about the impact of Inheritance Tax (IHT) on your estate? It’s natural to want to leave behind a legacy for your loved ones, but without the right plan in place, a significant portion of your wealth could be subject to Inheritance Tax. With IHT affecting more and more families, it’s crucial to be proactive and plan accordingly.
Make sure your dependents have the money they need if you were no longer around
When it comes to ensuring that your family is taken care of in the event of your premature death, life insurance is invaluable. It’s important to recognise how life insurance can help protect your financial interests and those of your loved ones.
