‘No matter how long the winter, spring is sure to follow’
Posted by siteadmin on Wednesday 3rd of February 2021
As we entered the new year with further lockdowns and history making world events, the hope of spring hangs in the air, an enticing prospect, this year, more than ever. While we’re waiting for the green shoots of spring to emerge, why not use the time effectively by getting your finances in order before the end of the tax year?
The tax year ends on 5 April 2021, which is Easter Monday this year, so don’t wait until the last minute to double-check you’ve taken advantage of all the tax-efficient allowances available to you. To avoid a last-mi...
Plan for what is difficult while it is easy
Posted by siteadmin on Monday 11th of January 2021
We all know we need to save for retirement, don’t we? But we also know it’s not always that easy to find the spare cash required to do so, especially amid a global pandemic.
Research studies, though, typically show that many retirees wish they’d saved on a more consistent basis and managed to accumulate a larger nest egg. Mike is one of those people who entered retirement harbouring financial regrets.
Plan? What plan…?
Last January, after working for over 45 years, Mike decided it was finally time to retire. But he soon hit a snag; Mike s...
Are your kids worried about money?
Posted by siteadmin on Tuesday 29th of December 2020
Has the pandemic caused you to worry more than usual about your finances? Well, you’re not alone…
With 47% of respondents to a global survey stating they are less well-off now compared to before the pandemic and 24% worried about job security, it’s clear that the virus is continuing to wreak havoc on our financial – and mental health.
The kids are… not alright
And it’s not just adults who are feeling the pressure – our kids are picking up on it too. According to a monthly study of children’s mental health symptoms during the pandemic, childre...
Could you live on the State Pension?
Posted by siteadmin on Friday 18th of December 2020
Let’s be honest, on the morning of 21 October few of us were waiting with bated breath as the latest UK inflation stats were revealed. But, for millions of people, that moment was significant.
That’s because the September (Consumer Price Index) CPI inflation figure forms part of the government’s ‘triple lock’ formula used to determine the forthcoming rise in the level of State Pensions.
Triple lock
The triple-lock safeguard was introduced by the Conservative-Liberal Democrat coalition in 2010 and aims to ensure that the value of the State P...
Do you know your State Pension age?
Posted by siteadmin on Sunday 13th of December 2020
Did you know that the State Pension age (SPA) increased to 66 for both men and women in October 2020 and it’s set to rise further? Knowing your SPA, together with how much you can expect to receive, is an important part of your retirement plan that is often overlooked.
Why do I have to wait longer?
In 1908, when the first State Pension was introduced in the UK, you would have to wait until the grand old age of 70 before being able to claim. This was at a time when life expectancy at birth was around 40 years for men and 43 for women, and w...
2020 spending review at a glance
Posted by siteadmin on Wednesday 25th of November 2020
- Forecasts from the Office for Budget Responsibility (OBR) show the economy will contract by 11.3% this year
- It may take until the end of 2022 for the economy to return to its pre-pandemic size
- GDP will grow by 5.5% next year, 6.6% in 2022, 2.3% in 2023, 1.7% in 2024 and 1.8% in 2025
- The budget deficit will be £394bn this year
- Borrowing will remain at £164bn next year
- Pay rises for the public sector will...
Omnis wins coveted 5 star service award!
Posted by siteadmin on Wednesday 25th of November 2020
At the recent Financial Adviser Service Awards 2020, Omnis Investments were awarded the coveted 5 stars and also topped the list of winners in their category.
As a part of Openwork, we have exclusive access to Omnis Investments, which has an exclusive range of funds and strategies across the full risk/return spectrum, managed by leading investment managers.
Omnis Investments were put on the top spot for this accolad...
Mortgage Payment Holiday Update November 2020
Posted by siteadmin on Tuesday 17th of November 2020
On 17 November the FCA confirmed guidance for homeowners struggling financially due to coronavirus. The mortgage payment holidays scheme, first announced in March and then extended in May, has been further extended until 31 March 2021.
How does it work?
- Those who have not yet had a payment holiday will be eligible for payment holidays of 6 months in total.
- Those who currently have a payment holiday will be eligible to top up to 6 months in total.
- Those who have previously had payment d...
Markets react positively to election news
Posted by siteadmin on Wednesday 11th of November 2020
After days of tension, news came in over the weekend that Joe Biden won the key battleground of Pennsylvania, 20 electoral votes was enough to push him over the magical 270 threshold, securing his bid to become the next US President and take up residency in the White House. However, things aren’t clear cut, as the Trump campaign has indicated the incumbent President does not plan to concede, amid claims of voter fraud.
Global stocks responded positively to the prospect of a Biden presidenc...
The Bank of...Granny and Grandad?
Posted by siteadmin on Wednesday 21st of October 2020
For many younger people struggling to get a foot on the property ladder, the Bank of Mum and Dad is the only option. With rent taking a huge chunk out of their income and the requirement for increasingly onerous deposits, two in five renters do not believe they will ever be in a position to buy a property, despite a desire to own a place of their own. That’s where Bank of Mum and Dad come in, as well as ever more frequently, the Bank of Granny and Grandad.
Among the UK’s largest lenders
I...
