Divorce can be an emotionally challenging experience, especially if you and your ex-spouse have children to consider. As well as the logistical elements that you need to take care of, the financial aspects of the separation can be complex. In the worst-case scenario, you could be left far worse-off financially after your divorce, especially if you don’t consider all the necessary assets. Sadly, research from Legal & General has found that women are significantly more likely to be worse-off financially following a divorce than men. This has been termed the “divorce gap”. Fortunately, there are steps you can take to address this. Read on to learn more about the divorce gap and how a financial planner can help you to... Read More

In March, chancellor Jeremy Hunt delivered his 2024 Spring Budget, outlining the government’s plans for this fiscal year and beyond. The Budget is an important event as it can have a significant effect on your finances. Now that the new tax year has commenced, many of the announcements that the chancellor made have come into effect. Below, I’ve summarised six key points that could affect you and your finances this tax year and possibly beyond. Read on to learn more. 1. The main rate of National Insurance has fallen by a further 2% On 6 April 2024, the main rate of Class 1 National Insurance contributions (NICs) fell to 8%. This extended the 2% reduction that the chancellor announced in... Read More

Consider the benefits of financial planning. If the first advantage that comes to mind is the opportunity to grow your wealth, you might be overlooking some of the intangible benefits that could improve your wellbeing. Last month, you read about the potential financial benefits of working with a financial planner and how it could help you reach your goals. Now, read on to learn more about some of the wellbeing benefits. While intangible benefits can be harder to quantify, they are just as important and might be something you value as much as growing your wealth. 1. Working with a professional could offer you peace of mind A report in Professional Adviser suggests that one of the key reasons many... Read More

The number of retirees who could face an Income Tax bill is expected to rise. If your total income could exceed tax thresholds, there might be some steps you can take to reduce your tax bill. The Personal Allowance is the amount of income you can receive before you usually need to pay Income Tax on the portion that exceeds the threshold. For 2024/25, the Personal Allowance is £12,570. Crucially, the allowance hasn’t increased since the 2022/23 tax year and it’s currently frozen until April 2028. In contrast, your outgoings and income are likely to rise in line with inflation. So, even though your income might not increase in real terms, you could find a greater proportion of it is... Read More

Retirement might be a chapter of your life you’ve been looking forward to for years. Perhaps you’ve been daydreaming about how you’ll make use of the extra time, or you’ve already planned an adventure to kickstart your life after work.  Yet, for many people, retirement can be a difficult adjustment.  While work often means less freedom, it might provide you with a sense of purpose and a structure to your days and weeks. Suddenly stepping away from a routine you may have followed for decades can be jarring. So, if you feel adrift when you retire, you’re not alone.  Finding a new purpose you’re passionate about could be imperative to your happiness and wellbeing in retirement. This practical guide offers... Read More