How up to date are you with your pension? Here are a few things to consider. How much is in your pension pot? According to research1, three quarters of UK adults don’t know how much is in their pension pot. This figure rises to 79% of 55 to 64-year-olds who say they can’t put a […]
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Striking a balance
While recent financial challenges have taken their toll on everyone’s pockets, it comes as no surprise that parents are putting concerns about their children’s finances above their own, as highlighted in a recent survey of advisers1. Over half (55%) of the advisers surveyed noted that adult children were taking priority in clients’ wealth planning at […]
BTL landlords ‘retiring’
Older buy-to-let (BTL) landlords are selling up in large numbers, new analysis suggests1, leaving a void when they ‘retire’ from the business. Ageing population The median age of individual landlords was 58 in 2021, according to the latest English Private Landlord Survey, significantly older than the general population. In contrast, only 15% were under the […]
Your retirement – don’t do it a disservice
The Institute for Fiscal Studies (IFS) has warned that 90% of those currently in their 30s and 40s are saving less than they need to if they want to have a decent standard of living in retirement. Whilst the IFS researchers found that the current generation of pensioners is doing better than any before it, […]
News in Review
“This is good news… we are making progress” Last Friday, newly released data from the Office for National Statistics (ONS) revealed a better-than-expected uplift in UK economic growth. The UK’s gross domestic product (GDP) rose by 0.5% on a monthly basis in June, beating market expectations of a 0.2% rise. This higher growth rate, the […]
News in Review
“Inflation is falling and that’s good news” Last Thursday, the Bank of England’s (BoE) Monetary Policy Committee (MPC) voted to increase Bank Rate to 5.25%, a fourteenth consecutive rise that has taken Bank Rate to its highest level in 15 years. At the MPC meeting, the nine-member committee was split three ways, with six voting […]
Summer retirement round-up – developing a coherent strategy
The last few years have created an increasingly complex backdrop for retirement planning. Not only has the post-pandemic era seen attitudes to work alter significantly, but macro-economic headwinds from Russia’s invasion of Ukraine and the cost-of-living crisis have created significant unhelpful market volatility. In combination, this has inevitably heightened the need for everyone to engage […]
Big changes for holiday lets?
Turning homes into short-term holiday lets could soon require planning permission if new government plans come into force. Conversion crackdown The motivation behind plans is to save residents from being pushed out of their towns, the government says. Specifically, the government aims to target the practice of ‘industrialising’ online rental platforms, whereby entire apartment blocks […]
Economic Review – July 2023
UK inflation rate declines Data released by the Office for National Statistics (ONS) showed the UK inflation rate fell by more than expected in June, leading analysts to predict that interest rates are now likely to rise less sharply than previously feared. The latest inflation statistics revealed that the Consumer Prices Index (CPI) 12-month rate […]
News in review
‘A resilient financial sector’ Interest rates in the UK will need to stay higher for longer than previously forecast to tackle inflation, the International Monetary Fund (IMF) warned last week, despite improvements in the country’s economic outlook since the start of 2023. With cheaper energy, better relations with the European Union and calmer financial markets, […]
