Concerned about the financial aspects of retirement planning?
With all the talk and concern about dwindling retirement funds and our shaky economy, many retirees and soon-to-be-retired boomers are concerned about the financial aspects of retirement planning. These are 10 steps to give you a brighter retirement.
Building a consistent, long-term and well-diversified investment strategy
To make the most of your investment opportunities, allow your lifestyle and not stock market fluctuations to dictate your investment approach. Your goals are what count, so keep them firmly in mind when you make financial decisions.
What could the new system mean to you?
From April this year, the notional 10% tax credit on dividends is to be abolished and will be replaced by a new tax-free Dividend Allowance. The Dividend Allowance means that you won’t have to pay tax on the first £5,000 of your dividend income, no matter what non-dividend income you have.
Higher stamp duty payable from April 2016
Buy-to-let landlords and people buying second homes from April this year will have to pay a 3% surcharge on the stamp duty charged for the property.
Setting up a second-hand market
The Government has been investigating the possibility of setting up a second-hand market in annuities.