| What
would happen to your mortgage costs if interest rates rise?
Dear
,
The
only way for interest rates is up – so you should think about
this if you have a variable rate mortgage or a tracker mortgage. |
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We
recently reported that the Bank of England kept interest rates at
0.5% for another month. Interest rates have been at this record
low point for over a year, so we are concerned that people might
get overly confident that these rates are here to stay. However,
this is unlikely as in recent years the average has been somewhere
around the 5% mark.
Find
out more about the effects of a rise in interest rates here, and
calculate how this could affect you. |
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Do
you have these worries about your investments?
- Am
I at risk of losing money?
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Could I improve my investment returns?
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Are my goals at risk because I’m not invested in the right
types of product?
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You’re
probably saying yes if you manage these investments yourself; you
won’t have the time or professional tools to manage risk,
maximise returns and ensure your objectives are met.
You may also be agreeing if your financial advisor does not provide
a regular review; you will be unaware
of performance or your changing exposure to risk.
We
can provide you with a FREE
review of your investments and indicate areas where you could make
improvements. In our initial meeting we will review your investment
objectives and assess your attitude to risk.
We will then send to you a report which:
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Questions
& Answers
Here we seek to answer the questions you have on financial matters.
To submit
a question, click here. |
My
dad has just moved into a home for the elderly. He sold his house
to fund his care and now wants to give me some of this money. Will
this affect his care fees assessment?
Mr W - Essex
Answer
The short answer is 'yes'. The Local Authority will assess anyone
who applies for help with their care fees, and this will look at
the capital and income position of the individual. If your dad wants
to give you some of his money, it is likely that the Local Authority
will view this as an attempt to deliberately deprive himself of
assets in order to obtain more help from the State. If at a later
date he applies for help, they may decide that they will treat him
as if he still had the money, or they may ask you to pay the money
back.
This
is a complex area, and you should seek advice before making such
decisions.
The
Government recently announced a review of the funding for later
life care. Click
here for more information.
I
am about to reach age 65, but would like to carry on working. Can
my employer force me to retire?
Mrs L - Essex
Answer
At the moment, yes, but not for much longer.
The
Government recently announced that this discriminatory practice
will no longer apply. From April 2011 it is anticipated that employers
will no longer be able to force employees to retire at a certain
date.
Click
here to read more about this.
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I
didn't know you did that!
Many
people do not realise all the areas in which we offer advice, so
here is a comprehensive list!
- Comprehensive
financial planning
Working towards your long-term financial goals;
- Investments
Including: portfolio management, ISAs, investment bonds, unit
trusts, investment trusts, OEICs, fund supermarkets;
- Pensions
Including: personal pensions, stakeholder pensions, Self-invested
personal pensions (SIPPs), Executive pensions (EPPs), Unsecured
pensions (drawdown), Annuities, Small Self Administered pensions
(SSASs), Retirement annuity contracts;
- Mortgages
Including: mortgages, remortgages, buy to let mortgages, commercial
mortgages;
- Protection
Including: life assurance, critical illness cover, income protection,
family income benefit, keyman cover, unemployment cover, private
medical insurance;
- Inheritance
tax planning
Contact
us to find out more! |
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The
Explainer This
seeks to bring you an easy to
understand explanation of some of the jargon used
in the financial news. |
| The
NEST pension scheme
If you are an employer,
you will probably have heard about the NEST pension scheme, which
will go live in October 2012. These proposals are expected to go
into force, although some there is a review underway at present,
which is due to report back in September 2010.
Under
the new rules, employers will have greater responsibilities to provide
workplace access to pensions for their employees.
You
will be required to enroll your employees into a scheme which meets
the new standards. There will be a minimum contribution amount for
employers and employees, which will reach 3% for employers, 4% for
employees and 1% for the Government. This will be staged in according
to the size of the company.
Click
here to read more information on NEST. |
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Quiz
Test your knowledge of financial planning
with our quiz - just for fun! |
Which
of these had the biggest growth over the last 5 years?
- UK
property
- UK
shares
- US
shares
- European
shares
- Asian
shares
- Emerging
markets shares
Click
whichever link you think is the correct answer. The data is based
on the average investment fund return to the end of June. |
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