As the cost of living rises, you may be considering increasing how much you withdraw from your pension. While it could solve short-term challenges, it’s important that you think about how it could affect your future too.

Several factors, including the war in Ukraine and the long-term effects of the pandemic, mean that inflation is much higher than it has been in recent decades. In the 12 months to September 2022, the rate of inflation was 10.1%. 

Your regular outgoings are likely to have increased, as well as the cost of discretionary sp...

It would be fair to say that the recent “mini-Budget” ended up being anything but.

A series of tax cuts, the reversal of both the National Insurance increase and a planned Corporation Tax rise, and an eye-wateringly large intervention in energy markets prompted unprecedented market movements and even a rebuke from the International Monetary Fund (IMF).

The announcement was swiftly followed by the pound falling to a record low against the dollar (although it has now recovered, somewhat) and a sharp rise in the interest rate the UK pays ...

Buy-to-let properties can provide an additional income stream and help you to support your goals. As a result, becoming a landlord is something you may have thought about.

For example, you may want to purchase a buy-to-let property to diversify your assets or provide children with an inheritance. One of the most common reasons is to fund retirement.

However, it’s also common to have concerns about buy-to-let. You may worry about understanding the regulations and tax requirements if you become a landlord.

If you’re thinking about investing...

Rising inflation and concerns about recession risks continue to place pressure on households and affect economies around the world.

The World Bank has slashed its 2022 global growth forecasts from 4.1% to 2.9%. The organisation also warned the global economy is at risk of experiencing stagflation, where economic growth is stagnant, but inflation is high.

As an investor, you may be worried about the effect the current situation could have on your portfolio and long-term plans. Remember, short-term volatility is part of investing, and you ...

The cost of living is rising quicker than has been normal in the last few decades. Indeed, the last time inflation was this high was in the 1980s. So, what happened then compared to now?

According to the Office for National Statistics (ONS), inflation in the 12 months to June 2022 was 9.4%. As a result, the cost of living is creeping up, from your household bills to days out. The Bank of England (BoE) expects inflation to reach 11% this year before it begins to fall.

There are several key reasons why inflation is higher now. The effects ...

Money and financial decisions are often seen as a personal matter. However, making your family part of the financial planning process and discussing your goals with them can be valuable.

A report from M&G Wealth found that 33% of advised families share the same adviser, with around 57% of those sharing the same adviser as their parents.

If you’re used to keeping your finances separate, it can be difficult to begin sharing an adviser and discussing opportunities or concerns you have with others. However, sharing a financial planner doesn’...

As the rate of inflation continues to rise, it’s more important than ever that those approaching retirement consider how the rising cost of living could affect them. For some people, delaying or changing plans could mean they have greater financial security later in life.

According to Aegon, maintaining living standards is the top retirement aspiration among people receiving financial advice. 

In the 12 months to June 2022, prices increased by 9.4%. As day-to-day costs rise at a quicker pace than normal, it can make it much more diffi...

The State Pension is often an important part of your retirement income, so should you top up your National Insurance contributions (NICs) to increase it?

Even if you have other pensions or income in retirement, your State Pension can be valuable. As it’ll be paid from when you reach State Pension Age for the rest of your life, it can provide some financial security that you can build on and so may affect other decisions you make.

For the 2022/23 tax year, the full State Pension is £185.15 a week

Before you consider whether you should to...

A trend among modern retirees to increase their spending as they get older could mean that some run out of money during their lifetime. The new research is an important reminder to consider how your spending needs will change during your retirement.

Traditionally, spending has been higher during the initial few years of retirement as retirees tick off milestone goals and bucket list items before spending settles down. And in recent decades, as people live longer, spending has also increased in later years as some people have needed to pay...