Essentially Wealth – Quarter Four 2018

Overview

ARE YOU A FINANCIALLY-AWARE FAMILY?

In many families, having a frank discussion about money remains a taboo. Many married couples reportedly don’t know how much money their spouse earns. Well off parents can sometimes shy away from letting their children know too much about their wealth, in an effort to prevent them becoming complacent about what they might inherit in the years to come and losing their work ethic.

PREPARING FOR RETIREMENT WHEN YOU’VE REACHED YOUR HALF CENTURY

When people reach their 50s, they often begin to realise that retirement, in whatever form they decide to take it, suddenly feels an awful lot nearer. If you’re in that age group and haven’t yet given the prospect much thought, now is a good time to start thinking about the years that lie ahead.

PROTECTION PLANS FOR ENTREPRENEURS

Whilst businesses are generally quick to insure themselves against the most commonly encountered operational risks, it’s often the case that owners, directors and shareholders can overlook the need to protect what’s arguably their biggest and most precious asset – themselves, their management team and their workforce.

MANAGING CAPITAL GAINS TAX

Capital Gains Tax (CGT) is charged on the profit or gain made when you sell an asset. You won’t pay CGT on the sale of your principal private residence, stocks and shares held within an ISA, proceeds from life insurance policies, or the sale of a private car. However, assets such as shares, collective investments and second properties that generate a capital gain are generally liable to CGT.

ARE WOMEN BETTER SAVERS THAN MEN?

This is the age-old question that is often hotly debated. New research shows that when it comes to pension saving, women are heeding the message that for a comfortable retirement you need to keep an eye on your pension throughout your working life, and they’re saving more for their future than men, after adjusting for the difference in earnings.