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Will you make provision for all those you hold dear?

Getting your affairs in order and planning what you want to pass on to loved ones Writing a will may seem daunting, and with everything else we should be thinking about it becomes just another chore on the to-do list. It’s especially important for cohabitating couples to have a will, as the surviving partner does not automatically inherit any estate or possessions left behind. Getting your affairs in order and planning what you want to …

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Sleepwalking into retirement

Lack of pension knowledge among UK adults The UK’s middle-aged workers could be sleepwalking into retirement poverty. Four in ten people aged between 40 and 65 cannot accurately estimate their total pension savings for retirement. Just over a third of 60 to 65-year-olds who took part in a questionnaire by the JLT Employee Benefits research do not know the size of their retirement fund. Additionally, two thirds of 40 to 65-year-olds with pension savings of …

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‘Sandwich’ generation

Not having enough money for retirement is the biggest concern Average life expectancy has generally been increasing, and for the ‘sandwich’ generation, saving for their retirement is clearly a big concern – and with plans to contribute financially to support their children and parents, it’s perhaps no wonder. A survey by the Association of Investment Companies[1] of the sandwich generation aged 35–55 who have elderly parents and children and a minimum household income of £50k …

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ISA returns of the year

Taking control over where your money is invested tax-efficiently A new tax year is nearly upon us – and that means, for all diligent savers and investors, you should make sure that you take full advantage of your current Individual Savings Account (ISA) tax-efficient allowance. An ISA is a tax-efficient investment wrapper in which you can hold a range of investments, including bonds, equities, property, multi-asset funds and even cash, giving you control over where …

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Do you have a financial back-up plan this year?

Be prepared if life throws something unexpected your way Unforeseen life events and circumstances can potentially impact your finances in a number of ways. Hundreds of thousands of people are diagnosed with cancer each year in the UK and it is becoming more common among those of working age. Cancer treatment can cause many to have to work reduced hours or stop working altogether. Sufferers should be able to make getting better their main priority …

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Planning the future you want

Pension freedoms bring optimism and adventure to retirement Will I ever slow down? Do I have the right plans in place? Retirement is a chance to do more of what you enjoy. figures released as part of LV=’s tenth annual State of Retirement report[1] indicate that, far from winding down, retirees are making the most of their time, with signs that pension freedoms have made people even more likely to feel this way. Half (49%) …

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Investing for the future

Higher inflation and near-zero interest rates mean the responsible thing to do could be to invest rather than to save Many of us have been brought up to believe that saving is the responsible thing to do. But in today’s environment of low interest rates and rising inflation, savers may need to consider becoming investors to prevent the erosion of their assets. Since the global financial crisis of 2007/08, the world’s central banks, including the …

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Countdown to retirement

Matching the living standards of those who have already retired Retirement can mean different things to different people. Understanding how much it will take to provide an income for yourself and potentially a spouse, while also ensuring you are able to leave something behind for your loved ones after your death, is essential. Number of factors This will ultimately depend on a number of factors: primarily how much income you think you will need over …

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Millennial outlook

Pension saving high up on the list of workplace priorities Workers from the so-called ‘millennial generation’ are putting pension saving high up their list of workplace priorities. Nearly six in ten (57%) people in their first ten years of work considered the quality of their current employer’s pension scheme before deciding whether to take the job, and they will also assess any potential new employer’s pension scheme before moving jobs in the future, according to …

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The bank that likes to say ‘yes’

Repeated payouts to children could have a detrimental impact on your own long-term saving Many parents who are in a position to do so would want to provide financial help to their children. However, in many cases, this financial support ends up being gifts from Mum and Dad rather than the loans from the Bank of Mum and Dad they start out as. Long-term dent These written-off loans risk making a long-term dent in the …

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