Smart Money Jan/Feb 2018

Jan 2018

Welcome to our first edition of 2018. The New Year is the perfect time to overhaul your life for the better, and one excellent place to start is by making solid financial resolutions that can help get you closer to your money goals, whether it’s increasing your retirement provision, looking to mitigate a potential Inheritance Tax bill or reviewing your level of protection in the event of an unexpected event.

We’ve now entered a new age of retirement planning with the introduction of pension freedoms. Thinking about pensions sooner rather than later can mean the difference between a comfortable retirement and struggling to make ends meet. On page 04, we provide seven pension tips for nurturing your nest egg in 2018. 

A new tax year is nearly upon us – and that means, for all diligent savers and investors, it’s important to make sure that you take full advantage of your current Individual Savings Account (ISA) tax-efficient allowance. And the good news is you don’t even have to declare any investments held in ISAs on your tax return. This may not seem like much, but if you have to file an annual tax return, you’ll know that any way of simplifying your financial administration can be very helpful. Read the full article on page 08.

Regardless of the life stage you have arrived at, it is important to receive expert and professional advice on your pension plans and requirements. However, 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. On page 06, we look at the reasons why.

Writing a Will may seem daunting – and with everything else we should be thinking about, it becomes just another chore on the New Year to-do list. But writing a Will is fundamental to the financial planning process. It answers one of our most basic desires – to make financial provision for all those that we hold dear. Turn to page 05.

The full list of the articles featured in this issue appears on pages 03 and 04. To discuss any of the articles featured, please contact us.