Nicola provides a series of articles answering some of the questions we are often asked.
How can I protect myself and my family?
After debt reduction, this is the most important area to cover – before savings, pension and investments.
If I have spare money, what should I be doing with it?
This is an area to consider once you have made sufficient provision for your budget for daily living which includes bills and other fixed costs. You may have taken out some protection arrangements and find that you still have funds to spare each month.
How do I know if I am saving enough for retirement?
If you have read the previous article on cash and savings (and touching on investing) then this is an area that can be considered simultaneously with investing, or you can choose one or the other depending on your goals and budget.
Taxation of investments and pensions
This is a wide ranging subject as it has many variables and will as ever depend on your individual circumstances, i.e. the types of asset you hold and what you do with them. For example if you are in receipt of funds from any particular asset, or they are simply held within an investment funds – this will dictate whether you pay tax, what sort, how much and when it will be payable.
What choices do I have for income in retirement?
Pension benefits can be taken from the age of 55. You do not have to stop working in order to take benefits from your pension fund, and it is possible to provide yourself with income from various sources (if you have accrued these through your working life) which could prove tax efficient.