Essentially Wealth – Quarter Two 2021

The arrival of spring is generally associated with a sense of optimism and, this year more than ever, we are all certainly in need of a positive boost. Thankfully for investors, there are increasingly hopeful signs on the horizon, with a growing belief that we are now at least starting on the road to economic recovery.

Whether retirement is a long way off or just around the corner, retiring as comfortably as possible is likely to be a primary objective.

The number of fraudsters using the details of legitimate firms to rope unsuspecting consumers into investment scams increased by 29% in the year to September 2020.

Continued support during the pandemic was, unsurprisingly, the main focus of Rishi Sunak’s Budget Statement on 3 March, in what continues to be an exceptionally challenging time for all global economies.

With interest rates plummeting to record lows and rumours of negative rates on the horizon, many savers are shying away from traditional savings accounts and trying their hand at investing, though it remains important to hold enough for emergencies in accessible, risk-free form.

Environmental, social and governance (ESG) investing looks set to continue gaining traction, as ESG factors increasingly merge into mainstream investment strategies, new research suggests.

Financially supporting family members remains high on the agenda for a third of potential retirees, who spend more than £3,700 a year helping loved ones.

The pandemic and resulting lockdowns have put great pressure on many couples over the past year or so, and many relationships have sadly suffered as a result. The financial implications of this can be challenging.

How much of what you were taught at school do you use in your everyday life? More than two-thirds of British employees wish they had been taught more financial skills at school, believing this would have improved their financial situation later in life.

An insightful report makes it clear just how large the gender pension gap has become. A typical woman in her twenties, it reveals, would have to work an average of 40 years longer than a man to build up the same pension at retirement, with women currently averaging a £100k savings deficit compared to men when they retire.

A freeze on most major tax thresholds in the 2021 Spring Budget, including Income Tax, Inheritance Tax, pensions and Capital Gains Tax thresholds, is set to bring in billions for the Treasury over the next five years.