The Junior SIPP – a tax effective investment for your child

If you’re looking for a way to save on behalf of your children, it’s likely that you’ll think of opening either a children’s savings account or a junior individual savings account, usually known as a Junior ISA or JISA. Whilst these can offer competitive rates, as well as being opened in your child’s name, there…

September Market Commentary

Introduction It is hard to start this commentary anywhere other than North Korea – or maybe crouching in Japan as a North Korean missile passes overhead. At the beginning of the month, Kim Jong-un threatened to bomb Guam, the US territory in the Western Pacific, and by the end of the month air raid sirens…

Update on state pensions: essential reading for the under 50s

Recent changes announced by the government to the state pension will result in nearly six million people currently in their forties having to wait longer until they can retire. It’s a development which has raised concerns over the dependability of the state pension, which for many makes up the lion’s share of their retirement income…

Raising retirement age will not fill the ‘black hole’

Recent figures have suggested that the government will be forced to cut back on healthcare spending, raise taxes or increase borrowing to care for the UK’s ageing population, even if the retirement age was immediately raised to 75. An economic study has found that population growth slowing and the increase in cost for healthcare are…

How long would your savings last?

A recent survey has found that the typical working person in the UK has around a month’s worth of savings to be able to maintain their current lifestyle should their income stop without warning. The data collected from 2,000 people found that the average person’s savings would support them for 32 days. More worryingly, 26%…

How much should you really be saving for retirement?

Retirement should be the time in your life where you’re able to relax and enjoy the fruits of your labour throughout your working life. However, simply paying into your savings or a pension for when you retire might not allow you to do this if you’re not putting enough away. But what does “enough” look…

August Market Commentary

Introduction July got off to the best possible start when Janet Yellen, Chair of the US Federal Reserve, announced that there would be no more financial crises “in our lifetime.” Speaking on a trip to London, she said that the reforms of the banking system since the 2007 to 2009 crash had “minimised the risk…

Can you do anything to protect your estate from the potential costs of care?

Yes, make a Will! Lynette Viney-Passig, Solicitor and Head of Private Client at Swayne Johnson Solicitors explains why there’s yet another reason to make a Will. Clients often ask me if they should give away their home (usually to children) during their lifetime. A good solicitor should always advise against this. There are serious risks…

What’s happening with DB Pension schemes?

Defined benefit (DB) pension schemes continue to be a hot topic in the business and financial worlds as an increasing number of people seek to transfer their pensions from a DB scheme. Recent figures suggest that more than four out of five (83%) of financial advisers in the UK have seen an increased demand for…

8 Financial Planning Steps

8 Financial planning steps you should take in the 5 years before you retire For many of us, realising there are only 5 years to go before the longest holiday of our lifetime will prompt us into sorting out our financial affairs. Here are 8 tips to help you make sure that your retirement is…