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Time in the market, not timing the market

Investment market swings can be unnerving, but they shouldn’t distract you from staying focused on your financial goals. Periods of market volatility will undoubtedly be unsettling times for most investors.

The risks of incurring losses can make holding investments difficult to bear, with the temptation being to sell out and cut your losses. But volatility is part and parcel of investing.

Day-to-day ups and downs of the markets Rather than focus on the day-to-day ups and downs of the markets, it is far more important to focus on the things you can control. With global markets in the grip of the COVID-19 pandemic, investors have been faced with an impossible dilemma: whether to stay invested or to withdraw to a safe haven.

It is important to remember what really matters: it is ‘time in the market, not timing the market’ that dictates long-term returns.

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Life Insurance Protection

For many of us, projecting ourselves into the future to see what‘s around the next bend is not an easy thing to do. However, without thinking, we insure our cars, homes and even our mobile phones – so it goes without saying that you should also be insured for your full replacement value to ensure that your loved ones and business are financially catered for in the event of your unexpected death.

Making sure that you have the correct type and level of life insurance in place will help you to financially protect them. Life insurance provides a safety net. Ultimately, it offers reassurance that your family and business would be protected financially should the worst happen. We never know what life has in store for us so it’s important to get the right life insurance policy. A good place to start is asking yourself three questions:

  • What do I need to protect?
  • How much cover do I need?
  • How long will I need the cover for?
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Tax Relief and Pensions

Saving into a pension is one of the most tax efficient ways to save for your retirement. Not only do pensions enable you to grow your retirement savings largely free of tax, but they also provide tax relief on the contributions you make.

There are various complex pension allowances in place that you need to be aware of and understand how to make the most of them. These limit the amount of money you can contribute to a pension in a year, as well as the total amount of money you can build up in your pension accounts, while still enjoying the full tax benefits.

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Generating income from investments throughout your retirement years

The time has finally come, you’re ready to retire. You’ve worked hard all your working life to save and prepare for your retirement, but how should you approach investing now that you’re no longer earning a salary? When it comes to investing in retirement, even during volatile markets, the right strategy can help make sure your retirement savings last.

For many, the idea of retirement means getting away from the stresses of everyday life. But with living costs rising and interest rates low, retirees still need to think about how they can continue to generate income from their investments throughout their retirement years.

It is not unusual for people to live more than 30 years once retired, due to increased incentives to quit work early and rising life expectancy, which in itself can present a major risk that retirees may outlive their savings. The longer the time spent in retirement, the harder it becomes to be certain about the adequacy of your assets.

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A GUIDE TO PENSIONS ON DIVORCE

If you’re going through a divorce, dividing up any pensions you have will usually be one of the largest financial decisions you need to make. Agreeing financial arrangements in your divorce can seem daunting; there are so many misconceptions and myths as to what each party is entitled to that it gets confusing.

The rules surrounding dissolution of a registered civil partnership are the same as those for divorce. In this guide, we use the term ‘divorce’ to mean the end of a registered civil partnership as well as the end of a marriage A pension is often the largest or second largest capital asset in a marriage or registered civil partnership. However, pensions can be complex and confusing at the best of times.

Frequently, one person has a substantial pension and the other might have none or a very limited pension provision because, for example, they have given up their job to look after the children.

A decision will need to be made as to whether that pension or pensions should be shared or if you should receive more of another asset, such as the home instead.

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