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FINANCIAL ADVISER BLOG

Raise Money: Downsize To A Smaller Property

Your current home may well be the place where some of your happiest memories were created. Realistically, however, downsizing may be an excellent way of financing many more. Here is a quick guide to some key questions on the topic. Why should I downsize my home? Home may be where the heart is, but property has a financial value. There are various schemes which make it possible to release equity in property while you continue to live in it. These each have their advantages and disadvantages and you would need to do your research thoroughly to decide if one of them was right for you. Downsizing simply means moving from a more expensive property to a more affordable one. This may be a small

Get To Grips With Your Pension Lifetime Allowance

As the song goes “I got bills, I gotta pay, so I'm gon' work, work, work every day.” At some point however, people may want or need to give up going to work every day. Even younger people need to think about how they will pay their bills if they are unable to work for any reason. If you are intending to give up work permanently, it is absolutely crucial to plan ahead. One option is to save into a pension. If you choose this route, it is important to understand your annual and lifetime allowances. It's also important to be clear on what will happen if you exceed them. The following explanation applies to defined contributions pensions. Defined benefits schemes may have different rules.htt

Do You Qualify For The New State Pension?

If you reach state pension age on or after 6th April 2016 then you will come under the rules for the new state pension. Here is a quick guide to what that means in practice. Out with the old and in with the New State Pension – What exactly changes? Under current rules the state pension is divided into two parts. These are the basic state pension and the additional state pension. The basic state pension is calculated based on your national insurance record. The additional state pension is calculated based on your earnings. It is currently possible to opt out of making payments towards the additional state pension. This is known as “contracting out”. The new state pension will combine both

What Next for Inflation?

The UK has now experienced deflation for the first time since records began in 1996. The Office for National Statistics believes that the last time the UK experienced deflation was in the 1960s. This was so long ago that you may well be asking yourself “What exactly is deflation and what does deflation mean for our economy?”. Inflation v Deflation - What's The Difference? In very simple terms, inflation is when the overall cost of living goes up and deflation is when the cost of living goes down. The word overall is important because prices of different items can go up and down at different times. How Is The Overall Cost Of Living Measured? There are two main measures used for determining

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