Could equity release be used to reduce your inheritance tax bill?

No one likes paying tax, but inheritance tax is probably the most unpopular tax of all. This is because inheritance tax is perceived as being a tax on the dead rather than the living. It is also a tax on giving rather than receiving. To rub salt into the wound, inheritance tax is a tax […]

Five ways to prepare for interest rate rises

Worried dad thinking about family finances

I don’t claim to be any sort of economist, but my logic works like this: Inflation usually rises when the economy overheats. This happens when people have more disposable income. Demand goes up and therefore prices go up. The Bank of England controls this buy using interest rates. Raising interest rates increases everyone’s expenditure, especially […]

Insurance – what you need and what you don’t

Insuring and protecting those you love

Insurance is a crucial part of financial planning. This should be taken seriously. Having the right insurance could get you out of a hole at a time of desperation. But which insurance is non-essential, and which should you buy if you don’t already have cover? If you are single and have no dependents You may be […]

Can I gift my home to my children to avoid inheritance tax?

Taxed to death We spend our lives paying all sorts of taxes. Income tax and national insurance on your earnings, income and capital gains tax on your savings. Stamp duty when you buy a house, council tax to live in it. Car tax, fuel duty, value added tax; excise duty and corporation tax if you […]

Is your financial castle built on sand?

Building financial castle on the sand

Let’s be honest; building wealth is much more fun than protecting it. Building wealth would include buying your first home, saving money over the short, medium and long term, creating a pension fund and perhaps investing in property.  Watching your assets grow over time can bring great pride and joy. Conversely, worry and pain when […]

Inflation: the thief in the night

Inflation and tax savings thieves

Inflation is not a good thing. When inflation happens, your purchasing power is reduced. Your money is worth less. Every pound you own buys less. Why has inflation crept up on us? Demand for oil and gas has pushed up energy prices worldwide. This means higher bills for homes and businesses. Shortages of many goods […]

Financial planning starts with goal setting

Goal setting fails

Getting started is the most difficult step for those new to financial planning.  But it all starts with having financial goals. Goals give you a target and help you focus on the things you really want to do with your money. Building wealth and managing spending involves some short-term sacrifice. Sacrifice becomes a lot easier […]

Fact: Working with a financial adviser can make you happier

The relationship between money and happiness has always been and remains a topic of intense debate. One of the first debates I had in school was “Does money make you happy?” The answer to that question was a big fat “No”, primarily because so many wealthy people suffer from anxiety and depression. Conversely, whilst many […]

How to increase your net worth

Whilst gross domestic product, unemployment numbers and inflation are key indicators of the state of a nation’s economy, your net worth is the key indicator of your overall personal financial health. So, do you know what your net worth is? The simple definition of your net worth is your assets minus your liabilities. the best […]

Is a SIPP better than a personal pension?

Self-Invested Personal Pensions (SIPPs) have become a popular alternative to your traditional personal or stakeholder pension, but why? Are they better?  Many people are under the impression that a SIPP would provide better returns than a personal pension, but how true is that? SIPPs certainly sound sexier than personal pensions, but what’s the best option […]