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Setting financial and lifestyle goals.

The start of the new year is the perfect time to obtain professional financial advice and in doing so help secure your future – and that of your family – for years to come. Whether it’s advice on significant lifestyle changes, such preparing for your retirement, helping your children buy their first home or investing to beat inflation, we can help.

Just setting goals doesn’t guarantee success – setting goals is only one part of a process that can lead you to success.

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Why parents should look to Christmas investment gifts instead of toys

With the festive season approaching, have you thought about gifting your children or grandchildren something different this year? Giving them a good start in life by making investments into their future can make all the difference in today’s more complex world.

Lifetime gifting is not only a good way to set up children for adulthood but is also a way of mitigating any Inheritance Tax concerns. However, what’s clear is that not all saving products for children are made equally.

With interest rates at historic lows, if you are looking to put money away for a child to enjoy when they grow up investing is by far the best way to maximise your gift.

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Planning for early retirement – what are the financial consequences to stopping work in your 50s?

Retiring early can give you that change of lifestyle you’ve been craving, open doors to new experiences and potentially improve your health. But there are financial consequences to stopping work in your 50s.

What is the financial impact of early retirement? Traditionally, people retired between the ages of 60 and 65, but there’s no set age that you need to give up work. In fact, anyone with a pension pot can access it from age 55 – although this is set to rise to age 57 from 2028. Retiring early requires some careful planning.

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Retirement. What can I do with my Pension?

How to turn your pension savings into an income for life.

There are many things to consider as you approach retirement. It’s good to start by reviewing your finances to ensure your future income will allow you to enjoy the lifestyle you want. The earlier you start thinking about what you’ll need for a comfortable retirement and where your money is going to come from, the more control you can have over that period of your life

The changes in the retirement landscape mean some people are adjusting their expectations for retirement. With life expectancy still on the increase, the need to save and plan for retirement is becoming ever more critical. The concept of ‘retirement’, as viewed through the opinions of those currently saving towards it, may have a broad range of meanings. But the reality is that traditional ‘retirement’ is changing, with few now seeing it as a singular event.

The future of retirement is likely instead to see a fundamental change in people’s lifestyles, with a growing aspiration to combine work and leisure to help manage the costs of a longer life expectancy.

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Feel confident about your retirement

If you have been diligently saving into a pension throughout your working life, you should be entitled to feel confident about your retirement. But unfortunately, the best savers sometimes find themselves inadvertently breaching their pension lifetime allowance (LTA) and being charged an additional tax that erodes their savings.

If you are a high-income earner or wealthy individual, you could be putting too much into your lifetime pension and risk exceeding the pension lifetime allowance.

The government will maintain the pensions Lifetime Allowance at its current level until April 2026, removing the usual annual incremental rises.

The following questions and answers are intended to help you avoid this tax charge.

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