The way pensions are accessed at the beginning of retirement has changed since the introduction of Pension Freedoms in 2015. The reforms mean that those aged 55 and over are less restricted in their ability to access their retirement fund.…
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How long will you be retired? Planning for the unknown
How long will you live?
For most of us, the closest we can get to the right answer is an educated guess. But where does that leave us when planning for retirement?
There are two sides to every story, and …
No emergency savings? How much should you have and why?
Research from ING shows that 27% of people are at risk of falling into financial difficulties, as they have no savings to fall back on if something goes wrong.
It’s easy to think that it won’t happen to you, but …
The death of Annuities has been exaggerated; Three tips for making the right choice
Annuities have undoubtedly fallen out of favour among new retirees.
Since the Pension Freedom reforms in 2015 broadened the options available when accessing pension funds, the popularity of Annuities has fallen by 75% (Source: Association of British Insurers ABI)…
Divorce: Why you might be paying the price for decades to come
Getting divorced is an expensive process.
It can also take years, or even decades to fully be free of the effects.
During the process, you are likely to be affected emotionally, physically and financially, but over time, the first two …
Giving money to charity? Six mistakes to avoid
As a nation, we gave over £9 billion to charity last year. (Source: Charity Aid Foundation)
In addition, 53,000 legacies were left, totalling £1.4 billion (Source: Legacy forecasting)
That’s something to be proud of.
However, we also gave …
The tax man received over £5 billion last year, don’t leave him an inheritance
Would you prefer the money you leave behind to go to your loved ones, or the tax man?
Last year, over £5 billion was taken from people’s estates in Inheritance Tax (IHT) and this year, that figure is set to …
Retirement planning: Will you have enough to live comfortably when you give up work?
If you have recently been automatically enrolled into a workplace pension, you should be feeling happy with yourself, staying opted in, making contributions and building your pension fund feels great.
But it might not be enough.
Most employed people are …
Homeowning: The naivety of youth
Buying a house.
It’s one of the biggest commitments your child will have to make when they grow up, but research from Halifax shows that many children and teens aged 11 to 21 are in the dark about how buying …
Speaking of money: How to hold productive discussions about household finances
How often does the topic of money come up around your dinner table?
Less than half (49%) of European couples find household finance meetings exciting, according to ING. That’s okay, not everyone is interested in dissecting their income and …