Essentially Wealth – Quarter One 2019

We can all be forgetful on
occasions, we’re only human after all. However, when it comes to our finances, losing track of what we have can be a costly mistake to make. It’s been estimated that a staggering figure of £15bn is tied up in old bank accounts, pensions, life assurance and investments.

Using up any allowances you are entitled to is the first step to reducing the amount of tax you are liable to pay. With the tax year-end approaching now is the time to act – don’t risk losing out.

Home insurance acts like a financial shock-absorber and protects thousands of families each year from unexpected and unwelcome loss, damage and expense.
Whilst standard policies can cover buildings and all the things kept in a home such as TVs, furniture, carpets and personal belongings, your adviser can also help you choose additional cover for specific risks and tailor the policy to meet your needs.

Recent research shows that some people could be sleepwalking their way towards a financially-bleak retirement. A survey conducted by Aegon found that less than a fifth of adults aged 55-64 have more than £300,000 in their pensions – the approximate amount widely considered to be necessary for someone on an average salary to maintain their current lifestyle.

There’s a lot to think about when you’re planning your income needs in retirement, and a variety of factors that can influence the amount of income you might need.

Having taken the important and responsible step of making a Will, many people simply put it in a safe place and forget about it. However, there are times throughout your life when it makes sense to review and revise its contents.