An annuity is a financial product which offers a guaranteed income over an individual’s retirement. In 2023, annuities have become more popular due to higher incomes offered by new products. Is now the time to buy one? In this article, our Burnley financial planners explain how annuities work…
On 22 June 2023, the Bank of England (BoE) raised their interest rate (the base rate) again – this time, by 0.5% to now stand at 5%. Given that this is the thirteenth rise since December 2021, many people are asking how much higher the base rate could go. The base rate has a big impact on the cost of borrowing…
In June 2020, at the height of the COVID-19 pandemic, Ipsos Mori published a report into the state of financial wellbeing in the UK. Its findings were significant. It found that “financial wellbeing” – a deep sense of personal financial security and freedom of choice – is essential to mental health and success…
There is no shirking the matter. Since the UK’s cost of living crisis escalated in 2022, families have found it harder to put money aside. Investment levels were at a 3-year low in July 2022, and in May 2023 savers took out a record £4.6bn from savings as consumers struggled to meet their monthly bills…
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