The COVID-19 pandemic has led to many undesirable outcomes. One that is less well publicised is the impact on UK women in retirement. According to the Chartered Insurance Institute (CII), the pandemic could lead many women to save less into pensions. This, in turn, may result in women…
Financial planning has clear benefits for an individual. It helps you craft a strong retirement plan, establish financial protection for your family and maximises your take-home income through tax mitigation strategies. Yet there are also compelling reasons for business owners and directors to consider a…
The end of tax year is fast approaching (April 5th 2021) and marks an important moment when various tax allowances refresh. Failing to make the most of them could represent hundreds – if not thousands – of lost pounds, so it’s worth taking stock of your own case. In particular, are you making the most of your ISAs (individual savings accounts)? In 2020-21…
Our financial goals and needs usually change as we get older. Each stage of life brings distinct challenges and opportunities as we seek to bring greater control to our finances. Yet how do you navigate the transitions to each stage of life successfully – particularly when it comes to your wealth? Here at Elmfield in Padiham, Burnley, Lancashire, our financial planners believe…
Early in February, headlines reacted with shock as news broke that banks had been asked to prepare for negative interest rates. The Bank of England (BoE) have given six months to get their IT systems ready, although it was quick to reassure people that negative interest rates will certainly be introduced. The possibility, however, does leave important questions…
Self-employed people, contractors and freelancers deserve a lot of respect. They are seeking to build wealth and a future for themselves through their business, often without the security of an employed role. Sadly, many of these people have been especially hard-hit by the pandemic in 2020-21, receiving less UK government support (e.g. due to having insufficient…
If you’ve never heard of negative interest rates before, you’re not alone. For many years, such an idea has remained exactly that amongst economists – an idea which could work in theory, but perhaps not in practice (similar to how scientists typically regard faster-than-light travel). Yet the idea of negative interest rates has recently been tried by economies such as Sweden, Japan and even the European Central Bank (ECB)…
In 2020, financial protection has increasingly gained public attention in the wake of coronavirus. Many people are understandably worried about their health, jobs and income – wanting to make sure their loved ones have access to maximum financial stability should the worst happen. Life insurance is particularly important in this respect – providing a much-needed lump sum to your surviving family members…
Financial advisers. IFAs. Financial planners. Investment advisers. Pension transfer specialists. For the uninitiated, labels like these may appear synonymous and unimportant. Yet there are key differences which do matter – especially if you find yourself needing help understanding and making decisions involving complex matters of wealth and personal finance.
Self-employed workers form an important part of the UK economy. In December 2019, about 5m people were registered as self-employed in the UK – up from 3.2m in 2000. Overall, this makes up about 15.3% of the country’s workforce – with freelancers alone contributing £300bn a year to the economy. Yet despite their contribution self-employed people…
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