When you think about what you want the future to look like, it’s probably not the value of your assets that comes to mind first. Instead, you might think about the experiences you want or the wellbeing of your loved ones Yet, to build the life you want, money is usually an important factor. While you often hear that “money can’t buy happiness”, the reality is that your financial circumstances are likely to play a role in whether you can secure the lifestyle you want. By making your financial plan as much about happiness as your wealth, you could work towards your long-term goals and improve yo ..read more

Imagine you could time travel to understand how your financial decisions today might affect your lifestyle in 10 or 20 years. You may be in a better position to turn your goals into a reality. Read on to find out how working with a financial planner could give you a glimpse into the future. Time travel films and books offer plenty of warnings about the perils of changing the timeline – even a seemingly small change can have a huge impact. With this in mind, a “time travelling” financial plan could help you make better decisions as it could enable you to see the effect they might have on your l ..read more

As a parent or grandparent, you want the young children in your life to grow up to be happy and successful adults. A solid grasp of finances could set them off on the right track when they get older, but alarmingly, many children don’t receive any lessons on the subject during their formal education. A Nationwide survey found that 84% of parents say their children haven’t received any financial education at school despite 96% believing it’s important for young people to learn about money. In light of data such as this, it might be prudent to take on some of the responsibility and start educati ..read more

According to research from Scottish Widows, more than three-quarters of retirees could be missing out on potential investment returns by accessing their pension before their retirement date. Understanding the implications of withdrawing money from your pension could help you to make a decision that’s right for you. Read on to find out some of the areas you might want to consider before you access your pension for the first time. You can usually access your pension at 55 Usually, you can withdraw money from your pension when you turn 55 (rising to 57 in 2028). For many people, that will be befo ..read more

Every day you’ll take mental shortcuts, known as “heuristics”, to help you solve problems quickly. This can be incredibly useful in some circumstances and help you avoid becoming overwhelmed by decisions. Yet, when you’re making large decisions, including how to handle your finances, it could be harmful. Heuristics are necessary for people to navigate their day. Indeed, according to a report in Harvard Business Review, the average adult makes more than 30,000 decisions every day, from what you’ll eat to what you’ll say. Gerald Zaltman, a Harvard Business School professor, suggests that 95% of ..read more

Often one of the biggest benefits of a bespoke financial plan is that it allows you to devise a blueprint to follow, with your goals placed at the centre. It’s a strategy that could help you focus on what you want to achieve in life and make working with a professional even more valuable to you. Over the last few months, you’ve read about how a financial plan could help you grow your wealth and the value of non-tangible benefits, like feeling more confident about your finances. Now, read on to discover how financial planning might help you align your decisions with your aspirations. Your goals ..read more

There’s more than one way to pass on wealth to your family. Which option is right for you could depend on a range of factors, from whether your loved ones could benefit from support now to the implications of Inheritance Tax (IHT). Read on to find out what you might want to consider when passing on assets using three different methods. 1. Gifting during your lifetime Providing gifts to loved ones during your lifetime is becoming an increasingly popular option. With younger generations often facing financial challenges, a gift now could provide greater security than if they received an inherita ..read more

Over the last couple of years, rising interest rates have had a huge effect on the cost of borrowing. If your mortgage deal expires soon, you might be wondering if interest rates will return to “normal” and whether you’d benefit from choosing a fixed- or variable-rate mortgage deal. The Bank of England (BoE) sets the base rate, and it’s increased it recently to tackle high inflation. While there’s speculation that the central bank will slash interest rates as the pace of inflation slows, it’ll consider many factors when deciding how to proceed. So, predicting when changes to the base rate migh ..read more

Women are less likely to invest than men – in fact, more than a third (37%) of women don’t invest at all. There are many reasons for the gender investment gap, and it could widen the wealth gap. According to an Aviva survey, men are almost twice as likely to invest in a Stocks and Shares ISA, self-invested personal pensions, and general investment accounts. The decision not to invest might seem like a small one, but it can have a significant effect on wealth creation over the long term. The research found that women are more likely to use a savings account to hold their money. However, interes ..read more

“Loss aversion” is a type of bias that could affect how you manage your finances. It’s a concept that was developed by renowned psychologist Daniel Kahneman, who won a Nobel Prize for his influential work and sadly passed away in March 2024. To celebrate his life, read on to find out more about loss aversion and how it could impact you. One of Kahneman’s main arguments is that people’s behaviours are rooted in decision-making. He noted that bias and heuristics – the mental shortcuts you make to solve problems – are important for making judgements quickly. However, the downside to quick decisio ..read more