Pension tips for people in their 40s

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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…

Highlights from the July 2020 mini-budget

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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…

How should dividends feature in a portfolio in 2020?

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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 –…

Paying into your child’s pension: a short guide

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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…

June 2020: is the stock market on the mend?

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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.

Inheritance, lump sums & pensions

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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…

How to refine your finances for the summer

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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…

Six COVID-19 scams to watch out for in 2020

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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…

An 8-step financial planning checklist during COVID-19

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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. The COVID-19 outbreak is top of everyone’s minds at the moment. One key concern is how the pandemic and lockdown affect our wealth…

5 investor biases to avoid when the market is volatile

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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. At the time of writing (May 2020), few people are certain of where the markets are heading and you should probably be wary…

Should I opt out of my pension or increase my contributions?

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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 May 2020, many people are concerned about what to do with their pensions. Here at Elmfield in Lancashire, our financial advisers have…

What will happen to UK taxes in 2020?

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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. You might have noticed some headlines and social media posts asking about what will happen to UK taxes later in 2020. This understandably…

Dividend Investing 2020: A Short Guide

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If you are interested in investing in the stock market, then you might have heard of dividend investing. Yet how is it different from other types of equity investment, and how should it fit within an investment portfolio? In this short guide for 2020, our Lancashire-based financial planning team will be sharing some thoughts on these sorts of questions. We hope you find this content helpful. If you’d like to speak to…

Get Ahead of the Next Tax Deadline in 2020-21

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March is often a stressful time for people as they approach the end of the tax year in April. Indeed, our financial advisers often hear regrets from people across Lancashire, wishing they’d acted sooner and maximised the tax benefits open to them. If this is the case for you, then why not start planning for the 2021 April deadline now? Your investments, savings and emotions will thank you later!…

Pension Planning: Should I Buy an Annuity?

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Generating an income during retirement will be crucial to sustaining your desired lifestyle. Yet how exactly should you attain the funds you need? Here at Elmfield Financial Planning, we help people in Burnley and across Lancashire to answer this important question. There are many ways to generate a retirement income, and each option might be more or less suitable depending on your unique financial goals…

Does Your Business Have the Right Key Person Protection?

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At present, the UK faces an immense period of business uncertainty in the wake of the COVID-19 nationwide lockdown. Currently, the Prime Minister has ordered that nobody should leave their home except for essential purposes (e.g. buying food). Pubs, bars, restaurants and many other businesses have shut their doors for the foreseeable future. For businesses across sectors and industries, it was difficult to…