Savings

Saving £2880 a year could provide a retirement windfall for your child

Matthew Barrand Savings

Planning ahead and starting early can really help when it comes to building up wealth for children. Current pension rules, which could change in the future, allow a parent to put up to £2,880 a year into a pension for a child. Tax relief means that this is then topped up to £3,600. If a parent starts this once a …

Protection

Huge rise in protection policy take up

Matthew Barrand Uncategorized

If you were unable to work due to accident, injury, sickness or redundancy, you would still need to support yourself and your family financially. Whilst you might have enough savings to tide you over for a short period off work, if it went on for longer, it could be a struggle to meet mortgage costs and other household bills; this …

Savings

Savings – do you need a nudge?

Matthew Barrand Savings

According to data from the Office for National Statistics, the UK is losing the savings habit. In the last couple of years, the savings ratio has been at about 4%, whereas in the 1990s it was closer to 15%. Statistics show that half of 20-somethings have no savings at all, and research carried out by the Money Advice Service in …

Gifting

Gifting money for a deposit

Matthew Barrand Wise Words

– what you need to know Parents and grandparents keen to help their offspring get onto the housing ladder are increasingly helping them out with the money they need for their deposit. This can help reduce Inheritance Tax (IHT) too, but you need to be aware of the rules. Everyone has a yearly ‘gift’ allowance for IHT and can give …

Trusts

Trusts not just the preserve of the rich & famous

Matthew Barrand Trusts

Today, you don’t have to be incredibly rich for your family to benefit from the creation of a trust. They can offer long-term asset protection and have a variety of uses as part of financial planning strategies. A family trust can help protect your family’s assets for the benefit of future generations and may be used to protect the family …

Premium Bonds

NS & I widens the chance to save for young children

Matthew Barrand Savings

Anyone aged 16 or over can now invest in Premium Bonds on behalf of children under the age of 16, meaning these gifts are no longer restricted to parents and grandparents. Premium Bonds can be bought as gifts online at www.nsandi.com/gift or by post and the purchaser will need to nominate one of the child’s parents or guardians to look …

Dog tag

Staying out of the dog house

Matthew Barrand Investment

You may have seen articles in the financial press referring to ‘dog’ funds, and wondered what the term  means. If so, don’t be concerned, put simply, a ‘dog’  fund is one that is regarded as an under-performing  fund. Meaningful comparisons All investment funds fall into sectors – for example, UK All Companies, Global Equity Income, Japan, UK  Smaller Companies or …

Dividends

UK Dividends set new high

Matthew Barrand Investment

Whilst 2018 may not have been the best year for share prices, it was a very good year  for dividends. A new report shows that UK  dividends reached a record high of £99.8bn, the highest level since the global financial crisis. This was due to a number of factors,  including soaring company profits, special dividends and a slump in the …

Pension Withdrawals

Pension Withdrawals hit record in Q4 2018

Matthew Barrand Pensions

Payments made under the pension reforms of 2015 have steadily climbed and hit 628,000 in the final quarter of last year, up from the  121,000 in the second quarter of 2015 when the reforms took effect. Interestingly, the average withdrawal dropped to a record low of £7,197 in Q4, down from £7,597 in the  previous quarter. This could be a …