Taking positive steps to achieve financial freedom

When are you thinking of retiring? With many pre-retirees reassessing their lives and priorities in the wake of the pandemic, there really is a seismic shift for many people towards achieving life balance. People need a plan to flex with their changing aspirations – it’s become more about living life rather than going

What is a Lifetime ISA and can I use it to save for retirement?

The Lifetime ISA (LISA) was introduced in 2017 to encourage people to save towards retirement or their first home.

First, lets cover the LISA rules:

• You must be over 18 or under 40 to open a LISA.
• You can contribute up to £4,000 per year, until you're 50: This counts towards your £20,000 ISA allowance

A new study conducted by the Financial Services Compensation Scheme (FSCS) suggests the UK’s prolonged low-interest environment is encouraging retirees to consider riskier pensions and investment products, which could ultimately result in them losing significant sums of money.

Taking a risk

The FSCS poll of 2,000 retirees aged 55 to 75, found that one in five had been

From 1 February 2021, pension companies must offer ‘investment pathways’ to customers who don’t have a financial adviser acting on their behalf. This is an attempt by the financial regulator to make it easier for those approaching retirement to do the right thing.

Why is this necessary?

Since 2015 and the introduction of “Pensions Freedoms” consumers have a lot more

Last year was challenging, with job losses and pay cuts causing many to tighten their budgets. It was particularly difficult for the self-employed, with many freelancers losing income as companies cut costs and stopped using contractors. Despite government grants being available, many self-employed workers have found they are not eligible.

Almost five million people in

Recent data* on flexible payments from pensions shows that in Q1 2020, almost £2.5bn was withdrawn from pensions – a 19% increase on Q1 2019 withdrawals, and the highest recorded Q1 of any year since pensions freedoms began. Although the average amount withdrawn per person was £7,100 (down 3% from Q1 2019 £7,300), the total value of flexible withdrawals from pensions since

The COVID-19 pandemic is having a widespread impact on all aspects of our finances, including retirement planning. However, while recent stock market volatility undoubtedly poses a challenge, particularly for those close to retirement, it is important not to allow the outbreak to derail your plans.

A resilient retirement plan

One thing the pandemic has vividly

Your financial freedom awaits but when is YOUR financial freedom day?

Clearly thousands of people are looking on Google for the answer. Many people assume they will retire at state pension age, or the age which has been defined by a scheme to which they or their company have paid in.

Shouldn’t that day be defined by YOU?

Some people can’t wait for freedom. To others