If you’ll be retiring this year, you may be looking forward to more free time to focus on what you enjoy. As you start making plans, you need to set out your expectations and how you’ll create an income. To do that, a bit of planning is required, and these eight steps are a great place to start.

1. Set a retirement date

The first step is to decide exactly when you want to retire. It can help ensure you have everything in order.

A phased approach to retirement is becoming more popular. Whether you want to cut down your working hours or s...

If you’re creating a financial plan as a couple, you should consider the effect one of you passing away could have. If one person’s income or assets are vital for the household’s financial security, it could leave the other in financial difficulty should they pass away.

One of the questions couples sometimes ask is: “Will my partner be financially secure if I pass away?” It’s a difficult topic to discuss. Yet, it can help you put a plan in place that gives you both confidence in the future even if the worst should happen. Financial planni...

“Employment is up, investment is growing, public services are improving, the public finances are stabilising, and wages are rising.” This is the backdrop against which Rishi Sunak presented the 2021 Autumn Budget.

Promising “a stronger economy for the British people”, the chancellor outlined his taxation and spending proposals. Here’s a summary of the key points and what they mean for you.

Firstly, though, a reminder of two important tax changes that have already been unveiled.

2 important announcements already made

Back in September, ...

While the direct impact of the Covid-19 pandemic has lessened for many economies, businesses are now struggling with the indirect consequences, such as supply chain issues. From microchips to aluminium cans, firms around the world are facing challenges getting hold of the materials and goods they need.

Markets have largely recovered from the Covid-19 volatility, but global investors expect a market correction, according to a Deutsch Bank survey. Some 58% of investors said they expect a correction between 5% and 10% by the end of the year....

National Stress Awareness Day is on 3 November. Stress is something everyone experiences at different points in their lifetime, but it can harm your wellbeing and health. Recognising the signs of stress means you can take steps to reduce the impact it has on your life.

According to a study from HR software provider CIPHR, Brits feel stressed eight days a month on average. That adds up to around three months a year. Almost 8 in 10 people said they felt stressed at least once a month. So, if you feel stressed, you’re not alone.

The researc...

Receiving an inheritance can be life-changing. It could provide you with the financial security to pursue your dreams or make significant changes to your lifestyle. However, it can be overwhelming, and you may worry about making the “wrong” decision that could impact the rest of your life.

According to a report in Your Mortgage, 11.6 million people in the UK have received an inheritance in the last 10 years. For more than half of beneficiaries, the inheritance was left by parents, and a fifth received an inheritance from grandparents. The...

Half of the adults in the UK don’t have a will. While you may have a reason for putting the task off, there are many compelling reasons to make time to write a will that could provide peace of mind.

A survey from Will Aid found that 49% of UK adults do not have a will in place. A fifth said their reason for putting it off was because they do not want to think about death. While contemplating passing away is difficult, it is important to think about what you’d want to happen to your estate after you die.

Even if you have a will in place, ...

You may have thought about who you’d like to benefit from your assets when you pass away and written a will to ensure your wishes are carried out. However, you may have overlooked what you’d like to happen to your pension.

As you’ll be paying into your pension over your working life, it may be one of the largest assets you own. Yet, it’s easy to forget about it when planning what you’d like to happen to your estate, especially if you’re not drawing an income from it yet. If you have a defined contribution (DC) pension, it’s essential you ...

Research suggests that millions of workers are being too cautious with their pensions. Taking too little investment risk with retirement savings could mean your pension is much lower than it could have been. It could affect your retirement lifestyle.

Pensions and investment risk

If you pay into a defined contribution (DC) pension, your money will usually be invested. This includes your own contributions, employer contributions, and tax relief. By investing your money, you’re giving it a chance to grow over your working life.

All investm...