Young people are faced with a unique set of challenges when it comes to saving for retirement. One of these is perception. They can often think of their ‘future self’ as a different person and so may prefer holding on to their income for more immediate priorities, like a first home deposit, rather than saving for someone they perceive as a stranger.
The coronavirus (COVID-19) pandemic has caused many households to reassess their financial defences with the purchase of protection insurance. The diagnosis of a serious illness can mean a very difficult time for your health and your wealth. ‘If you were to become critically ill and could not earn a living, would your family cope financially, especially to pay bills, mortgage and other expenses?’
What you need to know about the Chancellor’s announcement
At the end of September, Chancellor Rishi Sunak announced a new Winter Economy Plan, with new measures to support businesses and individuals through the economic impact of the coronavirus pandemic, as well as extensions of current measures.
There is no easy way to say it – anticipating one’s death is an uncomfortable topic. Yet it is often worth pushing past the initial discomfort to pursue the potential rewards of effective wealth transfer planning. There are three places your assets can go at your death: to your family and friends, to charity or to the government in the form of taxes.
How could the change impact on your retirement plans?
For the first time in over a decade, the point at which people can claim a State Pension (the ‘State Pension Age’) is simple. If you have reached your 66th birthday, you can claim it. Otherwise you cannot.
Investing for income, growth or a combination of the two
Creating and maintaining the right investment strategy plays a vital role in securing your financial future. But we live in the era of the 24-hour news cycle. Human tendency is to prioritise negative over positive news content, and no one is immune from bad news. So as an investor, when you do get it, how do you process the information, deal with it and move on unscathed?
While most homeowners have a mortgage, many don’t realise that they could save money by remortgaging. While there are good reasons to find a new mortgage deal, it really depends on your situation and circumstances. Not sure whether to remortgage?
Why working and retirement are no longer binary terms
Giving up the 9-to-5 doesn’t necessarily mean stopping work. Many people are now considering staggered or flexible working. It can suit some individuals who have caring responsibilities or health issues, or those thinking about retiring in the next few years.
Giving grandchildren financial security is an important goal for many
If you are a grandparent, it’s natural to want to help out the family. And if you’re able to give a financial boost – whether it’s a loan or a gift – to the younger generation, it can be enormously rewarding for you too.
S4 Financial Ltd is an Independent Financial Advisory firm, which is authorised and regulated by the Financial Conduct Authority. S4 Financial Ltd is entered on the FCA register (https://register.fca.org.uk/) under reference 401372.