There are two main reasons to buy shares (e.g. via a fund). The first is to generate dividends from them over time – regular payments, out of company profits. The second is to hold them for a long time, with the intention of eventually selling them at a higher price than you bought them. You can even combine…
Each financial year, you are granted fresh allowances which can help you save on tax – helping your savings, income and investments to stretch further. The quieter moments of the Christmas break can be a great time to check whether you are on track to make the best of them. In this article, our financial planning…
The world has been on a rollercoaster with COVID-19. In late 2021, just as it started to look like the UK, US and other developed countries would be able to “live with” the virus, a new variant hit the headlines. Markets have reacted with volatility in the past…
20 years ago, most people got their news from TV, radio, newspapers and magazines. Today, the media landscape has shifted considerably. Whilst these media forms remain popular, more people are turning to social media for information – especially YouTube, Instagram and TikTok. These platforms have also…
The climate summit in Glasgow (COP 26) has drawn a lot of attention, with some lauding the pledges coming from attending nations whilst others – such as Greta Thunberg – arguing that it has been a failure. Undeniably, however, the event has increased attention in “environmental” investing (or ESG)…
Throughout your lifetime you are likely to witness many stock market crashes. Looking back at history, they have occurred an average of one or two times per decade. The latest was the 2020 COVID-19 crash. Prior to that, events included the 2018 “cryptocurrency crash”, the 2010 “flash crash”…
The dream of living mortgage-free is a powerful one. Indeed, it is often the reason why people want to overpay on their monthly mortgage – so they can repay their loan faster. Yet is this the best way to grow your wealth and gain more financial independence? Would investing more money into shares, bonds…
Various types of ISA exist today and different providers offer various rates. Whilst it is great to have choice as a consumer, this can make it difficult to find an ISA which suits your needs. In this guide, our team at Elmfield Financial Planning in Padiham, Burnley offer a summary of the main ISA types available…
Focusing on cash is not a good idea when building long-term savings. In 2021, interest rates are so low that even a 1.7% fixed-rate savings account with a High street bank fails to beat the 2% target rate of inflation set by the Bank of England (BoE). The stock market offers the chance of producing far better returns…
Where do you go if you want to invest in stocks, funds and other assets (e.g. commodities or even cryptocurrencies)? Similar to a food supermarket, in 2021 a range of investment platforms exist to offer these kinds of opportunities to people. However, they come in many forms and involve different…
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