When you think about financial planning, you might focus on growing your savings and investments, preparing for retirement, or leaving a financial legacy for loved ones. But it’s also important to leave room for enjoying life in the present day. This can be easier said than done. When you’re focused on growing wealth for the future, treating yourself can feel out of place. You might feel like you’re letting yourself – or others – down by “wasting” money, or perhaps you’re worried you’ll fall short of your long-term goals. But spending money on things you love can enrich your life and benefit your wellbeing. By including “fun money” in your financial plans, you can strike the right balance between enjoying... Read More

When you retire, you want to feel confident that your savings will sustain you for the rest of your life. But even if you’ve grown your pension pot in line with your goals, there’s no guarantee the funds will last throughout your retirement. Building a pension pot often involves extensive planning, with many people spending over 40 years working towards their goals. As you approach retirement, planning how you’ll draw down from your pension can be just as important as building it. In fact, Pensions Age reports that half of over-55s are worried their retirement savings will not last their lifetime. The sooner you start planning your retirement income, the better. Leave it too late, and you may find you’ve... Read More

Money worries aren’t unique to those struggling to make ends meet. Anyone can experience financial stress, whether you’re a high earner, comfortably retired, or have a sizeable sum in savings. In fact, as Professional Paraplanner reports, a study of 500 UK adults worth at least £100,000 found that 81% said they regularly feel stressed or worried about money. You might be worried about balancing your own current and future needs against supporting others, such as children or elderly relatives. Or you may be concerned about what the future might hold. Whatever’s on your mind, financial stress can have a significant impact on both your mental and physical health, as well as on how you manage your finances. To mark Stress... Read More

Whether you’ve received a bonus, had an inheritance, or have money to set aside from your regular income, you may be wondering how to make the most of it. You want to grow your wealth by making your money work hard for you. But you also want to ensure you have access to the funds you’ll need and feel comfortable with the level of risk. As such, you might find yourself asking: “Should I save or invest my money?” There isn’t a simple answer to this question, especially at a time when future interest rates, inflation rates, and investment returns may seem particularly uncertain. But by weighing the pros and cons of each option and considering your personal circumstances, you... Read More

An estimated £7 trillion is expected to change hands over the next three decades, as Unbiased reports. This so-called “Great Wealth Transfer” poses a significant opportunity for the generations set to inherit from baby boomers (born 1945 – 1965) and the silent generation (born 1928 – 1945). However, without comprehensive estate planning, much of this financial opportunity could be eroded. In many cases, insufficient planning could see more of your wealth ending up in the hands of a beneficiary you wouldn’t have chosen yourself – such as HMRC or an ex-partner. Keep reading to discover five key steps to prepare your estate to be passed to the next generation. 1. Make and update your will First and foremost, having an... Read More