Divorced Britons regret splitting after new financial pressures hit home
The pain of regret after divorce can be long-lasting, especially when you consider the life-long impact divorce has on your children, your finances and your emotions. All the problems, the arguing, the unhappiness, it is all over now that the divorce is final. Right? Not always.
For those parents who have spare cash, putting money into their children’s pension will boost the retirement prospects of their offspring. The money will be topped up by the addition of tax relief and could also earn their children a tax refund if they are higher rate taxpayers and reduce the penalty they face if they are a higher earner receiving child benefit.
Helping you realise your long-term financial goals
So you’re looking to accumulate a sum of money by investing. You may have a specific amount in mind. This could be to go towards helping to fund your child’s university fees or to pay for a trip of a lifetime.
Turning on the taps for an extra income stream to help you realise your ambitions
The best time to start investing was 20 years ago. The second best time to start investing is now. But as you have been building up your investment wealth over the decades, in all likelihood you’ve probably pursued growth above all else, looking to maximising the value of your savings.
Retiring is a huge life event. And the very concept of retirement is changing with phased retirement becoming more common. The way we access our pension is now a lot more flexible, and it’s no secret that in the UK we’re living longer than ever before which means we need to make the right choices.
Those dearest to us, and those financially dependent upon us
If something should happen to you, the last thing you want is for you or your family to be worrying about money. One of the most important aspects of your financial planning should be to ensure that you’ve made provision for your family and any dependants in the event of a serious illness, injury or untimely death.
Making sure you use up any allowances you are entitled to is the first step to reducing the amount of tax you may be liable to pay. We’ve provided our top five list of planning areas to consider before 5 April 2020, the end of the 2019/20 tax year. The rates given are correct for the 2019/20 tax year.
Wait for the bad weather to pass and stay the course
Volatility fluctuates based on where we are in the economic cycle, but it is a normal feature of markets that investors should expect. When stock markets start correcting, daily injections of bad news may sound as though it will never end. This can spark anxiety, fuel uncertainty and trigger radical decisions in even the most seasoned investors.
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.