Leaving wealth behind for your loved ones may be a priority when developing your financial plan. After all, you’ll likely want to see your family thrive and an inheritance could help them achieve important goals in life. Traditionally, you would transfer wealth to your loved ones when you passed away, leaving instructions in your will about how your family should divide your estate. However, in recent years, more people have chosen to instead leave a “living legacy” – passing wealth to their loved ones while they’re still alive. This informative guide explains why a living legacy could help you: Encourage your beneficiaries to think about their long-term finances Lend a helping hand to loved ones when they need it most... Read More

If you’re self-employed, you’re arguably more in control of your career and financial future. You’re fully responsible for setting aside the wealth you’ll need to achieve your dream lifestyle in retirement. Though, when it comes to pensions, managing your retirement savings could seem more complex. A survey reported by PensionsAge worryingly found that 41% of self-employed people aren’t currently paying into a personal pension, which could significantly affect their financial stability later in life. You may well not pay into a pension if you don’t know about the value of doing so, and how creating a retirement pot could be beneficial for you, both now and in future. So, if you feel as though your pension knowledge could do with... Read More

When life is on track and you’re meeting your milestones, it’s easy to feel secure and in control. Though, the reality is that unexpected challenges could arise when you least expect them. In August 2022, Jennie Gow, a Formula 1 presenter for the BBC, was living an active and healthy life. Just in case the worst should happen, Gow was advised to take out income protection. This decision proved to be invaluable when, just a few months later, she had a stroke that left her unable to work. Thanks to her proactive choice to shield herself from the unexpected, Gow’s income protection provided essential financial support, helping to cover expenses during her recovery. It even included rehab support services and... Read More

Almost four months after Labour won the general election, chancellor Rachel Reeves has delivered her 2024 Autumn Budget, outlining the government’s plans for this tax year and beyond. Arguing that the July general election had given Labour a “mandate to restore stability and start a decade of renewal”, Reeves described it as “a Budget to fix the foundations and deliver change”. Against a backdrop of a manifesto pledge not to increase Income Tax, employee National Insurance, or VAT, Reeves also announced that her Budget would raise taxes by £40 billion, stating that any other chancellor would “face the same reality”. Read on for a summary of some of the key measures and announcements from this year’s Autumn Budget – the... Read More

Early retirement, pursuing new hobbies, and travelling the world are just some of the ambitions you may be hoping to fulfil in the coming years. But as costs rise, this might seem more challenging to achieve. Indeed, Canada Life has revealed that 27% of 18 – 34-year-olds are delaying their long-term goals until they receive an inheritance. Additionally, 19% of people in this age range have used or plan to use an inheritance to buy their first property. While an inheritance can be a helpful way to progress towards your financial goals, it’s not sensible to rely solely on this type of windfall. Read on to learn two important reasons not to delay your life plans until you’ve received an... Read More