The lifetime ISA (LISA) is a highly popular investment “vehicle”. Since its introduction in 2017, around 775,000 people have opened one. Yet how does it work and is it worth it? In this guide, our Burnley financial planners offer a short guide to the lifetime ISA – offering ideas about how it can be integrated…
Do you like the idea of selling something for more than you originally bought it? This is known as a “capital gain” and it is a great way to grow long-term wealth. However, there is often a government not too far away looking to tax it! Whilst we all should pay our fair share to society, there is little sense in paying…
Retiring early is an ideal goal for many people – offering more opportunities to travel, volunteer or pursue other passions. Yet early retirement rarely just “happens”. Rather, it needs careful planning years in advance. In this guide, our Burnley financial planners explain some of the forms that early retirement…
With inflation still running high in 2023 (7.9% in June), many investors are looking for ways to mitigate its impact on their returns. Gold and other commodities (e.g. silver) are often touted as effective ways to hedge against inflation. Yet are they a good idea? Below, our financial planners in Padiham explain how…
Did you know that there was a “cap” on how much value you could hold in the pension, tax-free, in 2022? This was called the Lifetime Allowance and, as of 6 April 2023, the charge has been abolished by the Chancellor. In the 2023-24 tax year, you can now take pension benefits in excess of…
The UK economy has certainly been through a lot since 2020. COVID-19 led to widespread lockdowns, a short market crash and a shift to remote working. GDP grew by 7.5% in 2021, rebounding from a 9.4% plunge the previous year, but a reckoning was soon coming. Inflation rose in 2022…
Tax planning can make a huge difference to your income and wealth – especially in 2023, with the cost of living crisis putting pressure on real household finances. Optimising your affairs could save you £100s – perhaps £1,000s – each year, so it is worth taking time to do it. Below, our Lancashire financial planners offer some general ideas on how to mitigate…
Running a family business can be a mixed blessing. One benefit is that you get to work with loved ones and build a legacy together. However, family dynamics can be complicated and this can make it difficult to set boundaries. There are 3 million family businesses in the UK employing 9.4 million jobs…
How much insurance do you need to protect your wealth and household finances? After all, the list of policy types can get quite long with insurance for cars, pets, homes, travel, health, life and income. In reality, most people cannot afford full cover for all insurance types and so need to focus their budget on…
According to numerous studies, “home bias” is very common amongst investors. UK investors tend to prefer investing in UK equities. The same holds true for US investors and their own market. The reasons for this are numerous including transaction costs, inaccessibility and a sense of unfamiliarity…
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