Your Money - Your Future
News & Views
Journey to monetary autonomy
Optimising your finances and formulating an all-encompassing wealth plan for the future Everyone is entitled to monetary autonomy, and maintaining financial wellness throughout life is more of a marathon than a sprint. One must deeply grasp one's financial status to reach short-term and long-term objectives. [...]
‘Time in the market’, not ‘timing the market’
The allure of quick profits and instant gratification In the investing world, the allure of quick profits and instant gratification often tempts some investors to employ a 'market timing' strategy. This method involves buying or selling financial instruments based on predictions of future market price movements. Market timing is an active investment strategy aiming to beat the traditional buy-and-hold strategy. It involves moving in and out of the market or switching between asset classes based on predictive methods such as technical indicators or economic data. [...]
A crucial decade: financial planning in your 50s
Maximising your earnings or laying down a robust financial plan As you sail into your 50s, it becomes pivotal to consider your financial strategy. Life has likely found a steady rhythm by now. Children have probably taken flight, becoming financially self-sufficient, and the idea of reducing work hours or even retiring completely starts to surface. [...]
Decoding auto-enrolment
Good news on the horizon for future retirees For employees, auto-enrolment is a crucial component to consider in their retirement strategy. Understanding auto-enrolment becomes critical as we increasingly understand the need for adequate retirement preparation. Historically, while some companies offered their employees the chance to contribute to a pension fund for retirement preparation, others did not. [...]
Strategies to minimise retirement tax
Many pensioners may face a lurking tax risk as the State Pension grows Many pensioners may face a potential tax pitfall as the State Pension escalates and Income Tax bands remain fixed. Pensioners are set to see a substantial increase in their income next year. The State Pension is projected to rise by 8.5% in April 2024, following a 10.1% increase in April 2023[1]. [...]
Taxing times for 2023
A year marked by several tax changes that impacted higher rate taxpayers As we approach the end of the year, taxpayers should begin assessing their tax obligations. This is not a task to be left to the eleventh hour, especially considering tax changes coming into effect in 2024. [...]