Did you know as many as 1 in 20 people could have a pension they didn’t think they had? Could that be you? It’s estimated £26.6 billion is currently trapped in forgotten pensions, averaging about £9,500 each[1].
As we usher in 2024, it’s time to consider our financial resolutions. Many of us set New Year’s objectives, yet how many of us actually attain these goals? We all harbour unique financial dreams and aspirations, which may sometimes feel unattainable. In the intricate world of finance, the path to your financial objectives might not be as straightforward as you’d like. This is where the essence of financial planning comes into play.
Shaping your future financial security and independence
We make countless choices on our unique journeys through life that shape our future financial security and independence. Some of our most significant decisions involve finances – planning for early retirement, purchasing a property, or saving for your child’s education. These financial goals represent our personal priorities and targets for spending, saving, and investing our money.
One of the most critical challenges many families grapple with today
The escalating cost of living is one of the most critical challenges many families grapple with today. A significant surge in the prices of food, energy, fuel, and other necessities has struck in recent months. Consequently, households are wrestling to balance their budgets, with the mounting expenses putting considerable strain on their finances.
Understanding the system and taking proactive steps to minimise liabilities
Our hard-earned money is precious to us, and understandably, no one relishes the thought of parting with it in the form of taxes. Yet, the complexities of the UK tax system often escape the understanding of many. As we’ve stepped into the current tax year starting from 6th April 2023, time is of the essence. Leveraging all available tax reliefs and allowances before 5th April 2024 is vital to minimise potential liabilities.
