If you’re wondering how to start investing or develop your portfolio, then at some point you will hear about diversification. In simple terms, this refers to the practice of spreading out your investments across many different markets and asset types. Rather than putting all of your eggs in one basket (e.g. by investing all your capital in one stock), this approach helps you to mitigate unnecessary risks.
It is estimated that as many as 15m people (i.e. 1 in every 3 retirees) in the UK have no pension savings at all. Those over the age of 50 are especially at risk of pension poverty, since there is less time to build up a viable strong retirement fund (although it is certainly not too late). Many people seem to believe that the government will look after them when they stop working, much like the National Health Service…
It’s easy to assume that financial planning is all about ourselves. Yet there is a place for giving and charity too. Moreover, engaging in generosity can also make sense from a tax perspective – both for the giver and also the recipient. In this short guide, our financial planning team here at Elmfield offer these thoughts on charitable financial planning and its tax benefits.
The UK pension system can easily leave people confused. Not only does it deal with finances which seem to be in the far future, but the tax regime and “compounding dynamic” which take place on pension investments can also be quite complicated. There are also a range of pension allowances available which are intended to incentivise people to save towards their…
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