How to approach financial conversations with older family members
Discussing finances is not always easy, particularly with older family members. Nevertheless, these conversations are essential for alleviating stress and ensuring everyone’s long-term wellbeing. Whether it involves managing unexpected expenses, such as medical bills, or addressing insufficient savings, financial challenges can weigh heavily on ageing relatives. Families can work towards smoother transitions as circumstances evolve by engaging in open discussions and planning ahead.
Time is running out to fully capitalise on tax-saving opportunities
The UK tax year is a well-structured framework governing tax assessment and collection. It begins on 6 April and runs until 5 April the following year. As we approach the end of the 2024/25 tax year, maximising available opportunities is essential to make the most of your finances.
The impact of pension lump sums and their long-term implications
New research reveals a concerning trend among those approaching retirement[1]. One in five individuals (21%) who accessed a cash lump sum from their pension pot did so as soon as they reached 55, often without fully comprehending the potential long-term consequences. While some utilised the funds to meet immediate financial needs, others withdrew their savings simply because they could.
Helping you stay on track even in unpredictable circumstances
Having a sound financial plan is one of the most effective ways to align your aspirations with your financial choices. A carefully considered long-term strategy not only helps you visualise your destination but also provides clarity on how to achieve it, helping you stay on track even in unpredictable circumstances.
The optimal time to invest is shaped by your personal goals and circumstances
Investing your money can feel like navigating uncharted waters, especially when you’re unsure about market trends. A common sentiment among new investors is, ‘I think I’ll wait until the market drops.’ While this approach seems sensible – capitalising on low stock prices and selling high – it is far from foolproof. Even the most skilled fund managers in history have struggled to predict market movements consistently.
