Having your affairs in order could provide valuable support to your loved ones if you become incapacitated or pass away. Yet too often, it isn’t seen as a priority. In fact, according to the National Will Register, nearly half of UK adults don’t have a will, while 53% have not discussed their estate with anyone at all. Even if you have a will in place, your friends and family could still struggle to understand and honour your wishes, or manage your affairs, if you pass away. A “life folder” could help you provide your loved ones with everything they need if the time comes. Read on to learn more about how to create a life folder, who needs one, and... Read More

With unused pension pots set to become subject to Inheritance Tax (IHT) from 6 April 2027, you might be concerned that a higher tax bill will leave less to pass on to your children. Under the new rules, calculations from AJ Bell suggest that an additional-rate taxpayer inheriting a £100,000 pension fund from someone who died at age 75 could end up with just £33,000 after paying IHT and Income Tax. Basic- and higher-rate taxpayers could receive £48,000 or £36,000, respectively. You may already be confident your pension will provide enough income for a comfortable retirement, and therefore plan to leave any unspent pension funds to the next generation in your will. But considering the new rules, gifting from your... Read More

The rise of large language models (LLMs) like ChatGPT, Claude, and Gemini have taken the world by storm in recent years. Of these, OpenAI’s ChatGPT is certainly the most popular model. In essence, an LLM is designed to understand, generate, and interact using human language. This software can excel at answering questions, summarising text, and even generating “new” pieces of writing. LLMs are trained on large datasets that allow them to recognise patterns, understand context, and, for the most part, produce coherent and relevant responses to many queries. So, it’s no wonder that these AI tools are being used by people all over the world for tasks ranging from making shopping lists to building websites from scratch. More people are... Read More

“Decumulation” is a term that you may or may not be familiar with, but it is one of the most important financial steps a person can take in their life. Decumulation is the opposite of accumulation. In essence, decumulation is when you begin to turn the money you’ve been saving in your pension over the last few years (or decades) into a retirement income. This will usually involve drawing funds from your various pension pots to supplement other sources of income, such as your State Pension. You may also have investments, in ISAs for example, that you wish to decumulate. Ultimately, the goal in most cases is to have enough money to live the lifestyle you desire. While this may... Read More

Investing can seem daunting if you don’t know where to start, but it’s an important step towards building a secure financial future. One of the most important principles to understand is how your age can and should influence your investment strategy. For example, a 20-year-old just starting their career is likely to make very different choices compared to someone in their 50s who is nearing retirement. Understanding these differences, while also appreciating a few universal truths about investing, could be key to building a robust and long-term financial plan. Here’s what you need to know about investing at every stage of life. And remember, it’s never too late, or too early, to get started. Younger investors should focus on building... Read More