You can use your retirement savings pot as you wish from age 55 – rising to age 57 from 2028, the government recently confirmed. Yet while this offers flexibility, you need to think carefully before dipping into your retirement funds, or you could trigger unexpected tax charges or whittle away your funds too quickly. Here [...]
Be patient and consider retirement strategies - Even before most of us had heard of Coronavirus, only 25% of Brits felt confident that they would have enough to retire on without needing to supplement their pension. The impact of the Coronavirus pandemic on the global stock markets has resulted in the average pension fund value falling [...]
Originally published on hsbc.co.uk Your twenties are a time when there are almost too many goals to save for. You may want to buy your first home, purchase a car, or save up to travel the world in the future. Whatever your goals, and whether your plans are short term or long term, they all [...]
With a quarter of the UK’s working population now being supported by the government’s furlough scheme it’s reasonable to assume that for some older workers, working from home has opened their eyes to what winding down their working life could look like. Tim Anderson, an independent financial adviser based in Wren Sterling’s London office talks [...]
Money is a notoriously difficult subject to discuss with family. But this is an extraordinary time, with concerns around ill-health amid an environment of rock-bottom interest rates, stock market volatility, and economic turmoil. The current situation could provide an opportunity for openly discussing financial issues. Here, we consider some potential topics. 1. Your estate Inheritance [...]
With lockdown causing financial worries for many families, the ABI is warning people not to see their pensions as a quick way of raising cash, and to think twice before making any rash financial decisions during this uncertain time.