Choosing an independent school is a serious investment
Parents or grandparents wishing to give their children or grandchildren the benefit of an independent education face startling costs. This is followed after school by the costs of a university education, which are also considerable. However, with careful planning, it may be possible to avoid a huge outstanding student loan or tax burden.
Some people don’t want a pension company deciding how their pension savings are invested – they want to control where their money goes and how it grows. For people wanting to have autonomy to make their own investment decisions with their retirement savings, a Self-Invested Personal Pension (SIPP) may be an alternative solution.
Inflation set to erode Britain’s £60 billion cash savings
Millions of Britons could see their savings shrink, as they don’t know how to shield them from the threat of rising inflation. Currently, UK savers are hoarding over £60 billion in cash for long-term savings and investments, which stands to be eroded by £1.5 billion this year as a result of higher inflation.
In the previous five years, buy-to-let has seen the impact of huge property price increases, legislative changes, new tax treatment and deep economic uncertainty across the country.
New research reveals that it’s the over-50s who will help keep the buy-to-let market buoyant, with one in ten people (13%) aged 50 or over likely to invest in property after they retire. This could create 1.3 million landlords who consider property a safe bet when the time comes to access their pension wealth.
Convenience rather than cash is the biggest motivation
There are plenty of reasons why moving into a smaller home makes sense, and more than 3.9 million over-55 ‘empty-nesters’ approaching retirement are planning to downsize to a cheaper property later in life – but it is convenience rather than the cash that is their biggest motivation.