2024 has been called “the year of elections” with an estimated 2 billion people around the world heading to the polls. Voters in the UK will have their say on 4 July. Now that each of the main parties has published their manifestos, here’s what the 2024 general election could mean for your finances. Conservatives – more National Insurance cuts and the “triple lock plus” Having already reduced National Insurance…
When you think about what you want the future to look like, it’s probably not the value of your assets that comes to mind first. Instead, you might think about the experiences you want or your loved ones Yet, to build the life you want, money is usually an important factor. While you often hear the saying “money can’t buy happiness”, the reality is that your financial circumstances are likely…
According to research from Scottish Widows, more than three-quarters of retirees could be missing out on potential investment returns by accessing their pension before their retirement date. Understanding the implications of withdrawing money from your pension could help you to make a decision that’s right for you. Read on to find out some of the areas you might want to consider before you access your pension for the first time.…
When you’re accessing your pension, it’s important to consider the sustainability of your withdrawals. You might have heard of the “4% rule”, which provides a seemingly simple way to calculate how much you can access each year. However, for modern retirees, applying this rule to your pension could be risky. The 4% rule was first articulated by William Bengen, a retired US financial adviser. The rule essentially suggests you can…
With summer finally here, it’s the perfect time to enjoy the warmer weather by exploring the great outdoors. Yet, although the 2021 census found that 87% of UK households have a garden, many people overlook the simple joy of spending more time looking after it. As well as allowing you to cultivate a beautiful outdoor space to relax or entertain in, gardening also offers some incredible advantages that you might…
Your relationship with money may play a huge role in how you handle financial decisions and your long-term security. Many factors affect your financial decisions, but you might be surprised by how much your childhood experiences still influence you today. The majority of parents recognise how important financial education is. Indeed, according to Nationwide, almost 9 in 10 parents to children aged between 8 and 13 say personal finance education…
70 years ago, the BBC broadcast its first daily television news programme. Since then, round-the-clock news has become available, and you can get the latest headlines with a few taps on your smartphone. While being connected can be positive, for investors, it can make periods of volatility and choosing an investment even more difficult. Read on to find out why. On 5 July 1954, Richard Baker delivered the latest news,…
As financial planners, we often talk about the importance of working towards long-term goals and security. As part of your financial plan, you might be putting money into a pension for retirement or building an emergency fund to safeguard your finances if you experience a shock. Considering your long-term ambitions is often important for turning them into a reality. Yet, enjoying the present is just as essential. While it can…
2 in 5 UK retirees have retirement regrets, according to a Canada Life survey. If you’re saving towards your future, you could learn some valuable pension lessons and avoid repeating the same mistakes. Securing the retirement you want often means thinking about this milestone many years before you celebrate it. One of the key challenges is balancing your financial needs and goals now with your long-term ones. Retirement regrets indicate…
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,…
Research suggests that retirees could boost their income by downsizing. While selling your home and moving to a smaller property could be a valuable way to fund your later years, there are some important considerations you might want to weigh up first. Read on to find out more. Over the last few decades, the value of the average home in the UK has soared. Indeed, according to figures from the…
How many times have you told yourself that you need to do more exercise, started a new routine, and then stopped it altogether after a few weeks as you just don’t have the time? This cycle of wanting to get healthy, trying your hardest, and then being put off by the physical and time demands, is an unfortunate reality for many. But the truth is, it doesn’t take much effort…
The Covid-19 pandemic saw many of us confined to our homes for an extended period. While it was a challenging experience, lots of people looked for the silver lining and took the opportunity to work on their homes and gardens. Unfortunately, there was an unintended consequence to this increased interest in DIY. According to the BBC, figures from the NHS show that in 2020/21, more than 5,600 people visited hospitals…
On 1 January 1909, around half a million elderly people queued up at post offices around the UK, waiting to receive the very first State Pension payments. Only those older than 70 with an income of less than 12 shillings a week were eligible. Those who qualified received a payment of five shillings, yet the payments could be stopped if you had too much furniture in your home or were…
In his spring Budget on 6 March 2024, chancellor Jeremy Hunt announced that the government would consult on the possibility of creating a new “British ISA”. This new type of ISA would give investors an additional £5,000 allowance on top of their normal ISA allowance of £20,000 in the 2024/25 tax year. However, you’d only be allowed to invest this £5,000 in UK markets. The reception to the British ISA…
A will is an important way of outlining what you’d like to happen to your assets when you pass away. Yet, figures suggest will disputes are on the rise. If you’re worried about potential conflicts when you pass away, read on to discover some useful steps you might want to take. According to a report in the Guardian, thousands of families have been embroiled in disputes dubbed “ruinously expensive” by…
It’s been more than a decade since auto-enrolment was introduced, and now most workers automatically become members of their employer’s pension scheme. While more people saving for retirement is excellent news, it could mean you end up juggling multiple pots. One option is to transfer one pension to another, known as “consolidation”. It’s usually simple to do and there are many reasons why you might want to transfer a pension.…
The State Pension is often a useful foundation when you’re creating an income in retirement. Yet, a survey from Just Group found that a third of people didn’t check their State Pension forecast before stopping work. While the State Pension might not be your primary income in retirement, it’s often valuable because it’s reliable – you’ll receive a regular income when you reach State Pension Age for the rest of…
Affordability challenges mean more people could near retirement with outstanding mortgage debt. It could affect your retirement plans or mean your income once you give up work doesn’t stretch as far as you expect. If you’re approaching retirement with a mortgage, read on to find out what your options may be. The effect rising house prices and interest rates have on first-time buyers is covered in the news. New figures…
Did you know that the National Gallery turns 200 this year? Originally founded in 1824, the museum in Trafalgar Square, London houses an impressive collection of over 2,300 paintings. Displaying art from the mid-13th century to 1900, it’s home to many famous paintings that people travel across the world to see. Whether you’re a London local or a tourist excited to see the best culture our capital city has to…
Britain’s housing stock has been dubbed the “worst value for money” in a Resolution Foundation report. With the media reporting that the UK is in the midst of a housing crisis, you might not be surprised by the news, but how the UK compared to other countries could still shock you. Read on to find out more about the research conclusions and why soaring house prices could mean it’s more…
It’s an unquestionable fact that stress is bad for your health. Did you know, though, that research from University College London has found that financial stress is the most detrimental to biological health – more than divorce or even a bereavement? In a recent study, Moneybox found that: Nearly half of people said they have financial regrets that made them feel stressed about their current financial situation 28% of people…
Star Wars Day on 4 May is a celebration of the legendary sci-fi saga that has been capturing audience imaginations since the release of Star Wars (later called A New Hope) in 1977. The film launched one of the biggest franchises in history, spanning 12 films and nine TV series, as well as countless books, comics, and video games. Generations of fans enjoy the galactic adventures of iconic characters including…
After millennia of struggling to survive against the brutal reality of nature, the human brain is hardwired to avoid risk. But though the fears of being eaten by a predator or getting lost in the wilderness are no longer a worry for most of us, humans are generally still risk-averse by nature. This can have ramifications for many aspects of your life, including your finances. Consider this scenario. A friend…
If you’re concerned about running out of money during retirement, you’re not alone. In fact, it’s one of the top financial concerns in the UK. Being proactive and working with a financial planner to create a retirement plan could offer you peace of mind. Read on to find out why. In an Aegon survey, 7 in 10 financial advisers said their clients’ number one concern was outliving their savings. The…
A lender rejecting your mortgage application can be stressful and time-consuming, and it might even mean you miss out on buying your dream home. A survey has found that most high net worth individuals aren’t securing their preferred mortgage. Read on to find out why and how a mortgage adviser could help you. According to Mortgage Solutions, 90% of corporate executives, finance professionals and entrepreneurs with average earnings of more…
It’s often said that Brits are obsessed with buying their own homes. But it doesn’t end with our property. The popularity of TV shows like Grand Designs and Location, Location, Location proves we can’t get enough of the property market. As well as showing off the latest interior design trends or bargains you can find at auctions, there are some helpful mortgage lessons to pick up in the shows too.…
While inflation continues to be a challenge for many economies, there are positive signs in the UK and around the world. Read on to find out what may have affected stock markets and your investment portfolio in March 2024. Remember, volatility is part of investing and most people should invest with a long-term outlook. If you have any questions about your investment strategy or performance, please contact us. UK In…
In recent years, the focus on personal wellness has been a growing trend. Indeed, data reported by Statista reveals that the forecasted size of the wellness market could reach as much as $8.47 trillion by 2027. While it may seem as though embracing mindfulness and striving to live a healthy life are modern trends, this isn’t the case. In fact, many philosophers and physicians from ancient civilisations had plenty of…
The gains you can make before potentially paying Capital Gains Tax (CGT) have halved for the 2024/25 tax year. If you plan to dispose of assets, the change could affect you. Read on to find out when you could be liable for CGT and some steps you might take to manage a bill. CGT is a tax on the profit you make when you sell certain assets that have increased…
The start of the new tax year on 6 April 2024 is an important date for your financial calendar. Several allowances and exemptions reset, including your ISA allowance, Dividend Allowance, and Capital Gains Tax (CGT) Annual Exempt Amount. Now may be a good time to start utilising these allowances and exemptions to make more tax-efficient contributions to your savings and investments. However, the start of a new tax year also…
We’re proud to announce that VouchedFor has included five of our advisers in their 2024 guide, distributed today in The Times. The guide identifies and celebrates the UK’s best financial advisers, all based on feedback from their clients. Inclusion in the guide is a tremendous honour. What is VouchedFor? If you’re not familiar with VouchedFor, it’s a platform that allows consumers to leave reviews for their financial adviser or planner.…
Nobody likes to think about their own death, but it may be important to consider some of the challenges your family could face when you’re gone. The “cost of dying” is on the rise and if you don’t put plans in place now, you could leave your loved ones in a difficult position. Indeed, according to SunLife, the average cost of dying – including basic funeral costs, professional fees for…
Recently, you read about how five Black Swan advisers had been included in this year’s VouchedFor Top Rated guide. Our talented advisers achieved this accreditation thanks to all the brilliant feedback we receive from clients. Now, we’ve won another prestigious award based on the verdict of the Black Swan team – and we’ve also been named one of the best advice firms in London. One of the Best Financial Advisers…
More than 1 million investors will be hit with a Dividend Tax bill for the first time in the 2024/25 tax year, according to an AJ Bell report. Read on to find out if you could be affected and discover some of the steps you could take to mitigate a tax charge. A dividend is a way of distributing a company’s earnings to shareholders. Usually, dividends are issued quarterly, but…
As property prices and rental yields have steadily increased in recent years, buy-to-let property has often been seen as a useful way to invest your money. However, figures suggest the pace of growth is slowing and landlords face increasing regulation that might mean it’s not as attractive as it once was. For some people, buy-to-let investments could still be a valuable way to grow their wealth. However, it’s important to…
Humanity is becoming increasingly aware of how we treat our planet. With more people experiencing the effects of climate change and global warming than ever before, the campaigns to protect the Earth are becoming more urgent. Earth Day has advocated for permanent, global change to save our planet for over 50 years. Named the planet’s largest civic movement, Earth Day has inspired several policies since the charity’s creation in 1970.…
If you’re looking for a fun way to spend time with your loved ones over Easter, why not explore one of Britain’s many impressive country houses? Discover the beautiful landscapes and incredible stories while enjoying brilliant Easter activities at these seven historical homes. 1. Dunham Massey, Cheshire Step into the 17th century in this gorgeous Georgian home and investigate their extensive collection of fascinating antiques, which reveal the history of…
While many economies are still struggling with high inflation there are signs that the pace is starting to slow, which could pave the way for interest rate cuts later this year. To reflect this, the OECD has lifted its 2024 global growth forecast by 0.3%, when compared to the end of 2023, to 2.9%. However, the international organisation warned that central banks should ensure underlying price pressures were “fully contained”…
A recent survey reported by Professional Adviser revealed that 2 in 5 wealthy individuals have been the victim of financial crime. Of the 2,000 people with assets worth more than £250,000 who were surveyed, 41% of them reported they had been scammed, with more than a third saying they had fallen victim in the last six months. 20% of the victims lost money through investment scams, while 15% were defrauded…