The question of what to do with your 25% tax-free pension lump sum has come into sharper focus in 2020. In stable times, this is a big decision given the vast sums involved and the impact upon your nest egg. Yet since the COVID-19 pandemic and subsequent volatility in the stocks markets, many pensions across the UK (which are typically invested in them) have taken…
Divorce is not unheard of in later life and, in fact, the figures suggest that it is growing more common. According to the Office for National Statistics (ONS), 7,468 marriages comprising over-65s ended in 2004, with the figure rising to 10,937 in 2014. Whilst money can sometimes be far from people’s minds during the divorce process, it’s crucial to not neglect your financial interests – especially with regards to your pension.
This content is for information and inspiration purposes only. It should not be taken as financial or investment advice. To receive personalised, regulated financial advice please consult us here at Elmfield Financial Planning in Padiham, Burnley, Lancashire. Turning 40 can be a time of great change for many people. The kids are older and perhaps you have been in a…
This content is for information and inspiration purposes only. It should not be taken as financial or investment advice. To receive personalised, regulated financial advice please consult us here at Elmfield Financial Planning in Padiham, Burnley, Lancashire. Chancellor Rishi Sunak was scheduled to deliver a Summer Statement in July 2020, to provide an update on how the UK economy was…
This content is for information and inspiration purposes only. It should not be taken as financial or investment advice. To receive personalised, regulated financial advice please consult us here at Elmfield Financial Planning in Padiham, Burnley, Lancashire. In the low-yield environment if 2019, it was commonly thought that it was hard to generate an income from an investment portfolio –…
This content is for information and inspiration purposes only. It should not be taken as financial or investment advice. To receive personalised, regulated financial advice please consult us here at Elmfield Financial Planning in Padiham, Burnley, Lancashire. Is it worth committing capital towards a pension for a child and, if so, which type of pension should you choose and how…
The first quarter of 2020 witnessed one of the worst falls in global stocks in many years. At the end of March the FTSE 100 posted its worst day since the events of Black Monday in 1987, and Wall Street in the U.S. recorded its fastest fall since the 1929 crash. The pandemic and resulting lockdown had taken its toll on the markets, with investors and pensions badly affected.
Many young people in the UK are facing significant financial pressures as house prices have risen over recent decades, far outpacing wage growth. As such, it is understandable that many hope that a future inheritance lump sum will help them gather the necessary funds for a house deposit. Yet research shows that, in 2020, those most likely to receive an inheritance are aged 55-64 with the median sum…
2020 has certainly been a year like no other, and the upcoming summer appears to be much the same. Although 500 travel companies claim that they have assurance from the UK government that air corridors will reopen by the end of June to allow some international holidays, it remains unclear whether British people will seize the opportunity. Many are likely to remain nervous that another surge…
The UK may be slowly edging its way out of the COVID-19 lockdown, yet financial scammers are still capitalising on the climate of fear and uncertainty to trick people out of their life savings. In the first quarter of 2020, at least 500 coronavirus-related scams and 2,000 phishing attempts were recorded by the National Fraud Intelligence Bureau (NFIB). Many of these were scammers posing as fundraisers…
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