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# Balance: Wealth Planning

Independent Financial Planning Advice

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## Posts

- [How to turn your pension into money you can use](https://balancewealth.uk/how-to-turn-pension-into-money/) - Are you still working but want to know how to turn your pension into money you can use today, rather than waiting for retirement? Pension planning can be complicated, and the age for accessing your pension savings is rising. By 2028, you will need to be 57 before you can access income from your personal
- [6 Ideas for last-minute UK summer breaks](https://balancewealth.uk/6-ideas-for-last-minute-uk-summer-breaks-balance-wealth-planning/) - With the summer solstice this week, are you still thinking of going on holiday, but you’ve not booked anything? Don’t worry, there’s still hope! We’ve shared six interesting ideas for last-minute UK summer breaks for you to consider. Eco-conscious wild camping A budget-friendly option for any nature lover, wild camping is the latest trend for
- [Financial planning for later life care | Balance: Wealth Planning](https://balancewealth.uk/financial-planning-for-later-life-care-balance-wealth-planning/) - When it comes to financial planning for later life care, have you thought about the savings you might need to pay for future care fees? If you already have a financial plan, is it on track to meet your needs, should you need care in later life? Let’s explore this difficult topic in more detail,
- [The 5 key parts to financial wellbeing](https://balancewealth.uk/financial-wellbeing/) - Did you know that philanthropy has been scientifically proven to make people feel good? If you can achieve financial wellbeing, you’ll be in a better position to help your family and friends. Giving back not only helps others, but it also gives you a sense of reward. Let’s look at the five key parts to
- [How do I find out if I have underpaid my state pension?](https://balancewealth.uk/underpaid-state-pension-how-do-i-find-out-if-i-have-underpaid-state-pension/) - There are many reasons why you may be underpaid your state pension. Usually, this will be because you haven’t made enough National Insurance (NI) contributions. So, how do you find out if you have been underpaid? Recently, it was announced that the deadline to claim any missed years or gaps in your NI record has
- [How to have difficult conversations about money](https://balancewealth.uk/difficult-conversations-about-money/) - Many families avoid talking about money because it feels uncomfortable or emotional. When parents discuss wealth, they worry about setting expectations, while their children avoid bringing up the subject for fear of appearing to be only interested in inheritance. However, by having difficult conversations about money sooner in life, you can make better financial decisions.
- [How much is enough: Making money mean more](https://balancewealth.uk/using-money-wisely/) - What does "enough" really mean for you when it comes to your wealth? Many people spend years saving their money without stopping to ask how much is actually enough. This is a deeply personal question and will depend on what you want to do with your money. We look at why understanding your purpose will
- [The financial decisions that shape your life most](https://balancewealth.uk/financial-decisions/) - Most of the decisions that shape our lives aren't purely financial, and yet they almost always have a financial impact. Throughout our lifetime, major financial decisions could be buying a home, starting a business, or taking a career break. Every choice we make requires us to consider what we can afford and what we actually
- [Are you accidentally taking on more investment risk than you think?](https://balancewealth.uk/investment-risk-management/) - Many investors assume risk is determined solely by their attitude to risk questionnaire or the label attached to their portfolio. However, in reality, investment risk can appear in many forms and can creep into a financial plan without people realising. We explain why you might be taking on more investment risk than you think and
- [The biggest retirement mistakes people make in their 50s](https://balancewealth.uk/common-retirement-mistakes/) - Many people only prioritise their retirement planning in the final year or two before they stop working. However, when you’re in your 50s, there’s a real risk that you could make some of your biggest retirement mistakes. During this decade, you can make important decisions when there’s still time to make meaningful changes. We look
- [Selling a business: It’s valuable but is it transferable?](https://balancewealth.uk/business-succession-planning-strategies/) - When you’re selling a business, an important factor is whether it's transferable. If a company’s operations rely heavily on the business owner, this could affect its value. Before exiting and reducing personal financial reliance on the business, there are financial planning implications, from succession planning to extracting wealth. We explore why being exit-ready is not
- [Mid-Year Financial Review: Are you on track for 2026?](https://balancewealth.uk/financial-review/) - Are you on track with your 2026 financial goals? As we head towards summer, now’s a good time to take a moment to reflect on your aims for this year. Carrying out a mid-year financial review can help you assess whether you’re saving enough or if there are opportunities to maximise your cash. Use our
- [Should you take tax-free cash after age 75?](https://balancewealth.uk/should-you-take-tax-free-cash-after-age-75/) - Many pensions allow you to take tax-free cash after you reach the age of 75, depending on the rules of the scheme. However, it may be more tax-efficient to take this cash before you reach this age, especially in view of the upcoming pension changes. We look at your options if you’re approaching or over
- [Protecting your life and your money: Insurance and tax planning](https://balancewealth.uk/protecting-your-life-and-your-money-insurance-and-tax-planning/) - Did you know that certain insurance policies can help you with your tax planning? From helping you manage your cash flow to reducing your family’s Inheritance Tax (IHT) liabilities, there can be various advantages. So, how exactly does this work and which policies are relevant? We look at the tax benefits of putting protection in
- [What to do when receiving a large sum of money?](https://balancewealth.uk/receiving-a-large-sum-of-money/) - Whether it’s an unexpected inheritance, a legal settlement, or a well-earned career bonus, receiving a significant lump sum can feel like winning the lottery. So, what should do if you receive a large sum of money? Whether it’s a cash gift or an inheritance, there are many things to consider, including tax implications and lifestyle
- [Why traditional estate planning may no longer be enough](https://balancewealth.uk/estate-planning/) - Over recent years, estate planning strategies have evolved due to recent and upcoming changes in legislation. Although many people think that living off cash and setting up trusts is all they need to do, this traditional approach may no longer be enough. Along with changes to reliefs, pensions will soon be included in estates for
- [How often should you check your pension?](https://balancewealth.uk/pension-planning/) - Many people either neglect their pensions or review them too frequently in response to market movements. So, how often should you check your pension? As a type of long-term investment, pensions benefit more from periodic, structured reviews than from constant monitoring. We explain what you should be looking at and why having a clear framework
- [What would happen financially if you’re unable to work?](https://balancewealth.uk/protecting-your-wealth/) - Nobody likes to think about what would happen if they were suddenly unable to work, and yet illness and accidents happen every day. With adequate protection in place, you will have peace of mind if the worst did happen and you fell ill, became injured, or died. There are many forms of insurance, from life
- [What happens to small pensions when you die?](https://balancewealth.uk/small-pension-pots/) - Small pension pots can create big headaches for your executors. From April 2027, most unused pension pots and death benefits will be included in your estate value for inheritance tax. We explore how holding multiple pensions could affect your estate value, and what happens to small pensions when you die. A common scenario: I have
- [Should you buy a second home or a vacation property?](https://balancewealth.uk/should-i-buy-a-second-home/) - Many people dream of moving nearer the coast or overseas. However, if you’re thinking of buying a second home or a vacation property, this can come at a cost. Before you go ahead and make an offer, make sure you’re fully aware of financing, tax implications and estate considerations. We look at the pros and
- [Why Investment Discipline Matters More in Uncertain Times](https://balancewealth.uk/why-investment-discipline-matters-more-in-uncertain-times/) - Market volatility is normal and a fact of life. Over time, investments will rise and fall, which is why a long-term strategy is essential. However, in times of political or economic instability, many people feel under pressure to make reactive, emotionally driven decisions. We look at the importance of maintaining investment discipline during periods of
- [Why April Is an Ideal Time for a Full Financial Review](https://balancewealth.uk/financial-plan/) - Many people only think about their tax planning right before the tax year deadline. However, by this stage, most tax-saving opportunities are already limited. Instead, if you review your financial plan at the start of April, you can make the most of your allowances, and you could earn more interest. We look at common missed
- [Cash Flow Modelling: Make better financial decisions](https://balancewealth.uk/cash-flow-modelling-make-better-financial-decisions/) - Many people are unsure how recent interest rate cuts are affecting their finances and investments. Before you adjust your current strategy, it’s worth carrying out a cash-flow modelling exercise. Poor or reactive responses to your financial planning could result in you missing out on profitable opportunities. We look at why a cash-flow plan helps you
- [Should I pay myself a salary or dividends in 2026?](https://balancewealth.uk/salary-vs-dividends/) - A common question we’re often asked by owner-directors is, ‘Should I pay myself a salary or dividends in 2026?’ There are key differences between extracting a salary and drawing dividends, including Income Tax, National Insurance and Corporation Tax. The way you pay yourself through your company also affects your affordability and protection policies. We explain
- [Why Time In the Market Beats Timing the Market](https://balancewealth.uk/why-time-in-the-market-beats-timing-the-market/) - When it comes to investing, timing the market is a losing game. You may have heard the phrase, ‘time in the market beats timing the market’. This investment strategy reminds us to be mindful about moving cash and the impact of emotional investing. Instead of reacting to market changes, long-term investing protects against the risk
- [A Thoughtful Pause Before Tax Year End: Is Your Money Working for You?](https://balancewealth.uk/tax-year-end-planning/) - As we move towards the tax year-end and the Spring Budget, this is the time to ask if you’re catching up financially or acting deliberately. By planning ahead in advance, you can make your money work harder and maximise any available allowances. We look at the benefits of taking time to pause, so you can
- [Managing finances when living with dementia](https://balancewealth.uk/living-with-dementia/) - Dementia affects people in different ways, and lots of people live with this condition for years, with the ability to manage their money. However, there are many things to consider when you are managing finances for someone living with dementia. A common issue for families is identifying when a loved one is starting to struggle.
- [Mansion Tax: Balancing retirement with legacy planning](https://balancewealth.uk/how-will-the-mansion-tax-work/) - A new ‘mansion tax’, officially the High Value Council Tax Surcharge, was announced in the Autumn Budget. Properties will be valued from April 2026, with the tax taking effect from April 2028 for homes worth over £2 million. We explore what this could mean for your retirement and legacy planning. Mansion Tax explained… The High
- [Cost of Divorce: Financial planning for lengthy separations](https://balancewealth.uk/divorce-financial-planning/) - Delayed divorces can quietly erode people’s finances, especially for those in their 50s and 60s. The cost of divorce during a lengthy separation can also have a significant impact on people’s future retirement income. However, with some early, joined‑up planning between solicitors and financial planners, you can look forward to a fairer settlement. We examine
- [The true cost of retirement planning in the UK](https://balancewealth.uk/how-much-do-i-need-to-retire-comfortably-in-the-uk/) - From living longer to inflation, interest rates, and market volatility, the true cost of retirement planning in the UK often differs from people’s expectations. In this guide, we look at several areas where you might be able to improve your existing retirement strategy. "You are never too old to set another goal or to dream
- [Financial Reset for 2026: Focus on your values and goals](https://balancewealth.uk/financial-reset-2026/) - A new year is often a natural ‘pause’ point for many of us, especially when it comes to our finances and life goals. At Balance: Wealth Planning, we believe that your values and goals come first, and your money should then follow. We look at how a values-led approach to a financial reset for 2026
- [Active vs passive investing: Evidence-based approach for investors](https://balancewealth.uk/evidence-based-investing/) - Does your investment approach still reflect your goals, time horizon, attitude to risk, and wider financial plans? Do you prefer active or passive investing? Long-term investing shouldn’t rely on labels, prediction, intuition or constant change. We look at how an evidence-based approach can help you achieve better long-term investment outcomes. The active vs passive investing
- [ISA Rule Changes: Is it time to rethink your cash strategy?](https://balancewealth.uk/inflation-vs-interest/) - The rate of inflation has fallen to 3.2%, leading to speculation that the Bank of England will cut the base interest rate. In 2025, interest rates have fallen several times, and there have been updates to the FSCS and changes to the ISA rules. For wealthy savers holding excess cash, now might be the right
- [The Cost of Waiting: Why delaying your financial plans could be the most expensive decision you ever make](https://balancewealth.uk/the-cost-of-waiting-why-delaying-your-financial-plans-could-be-the-most-expensive-decision-you-ever-make/) - As the new year begins, now’s a good time to focus on your financial planning. Many people put off their financial plans, saying, “I’ll deal with it later” but then never get around to it. Sound familiar? However, the true cost of waiting and delaying your plans could turn out to be the most expensive
- [Business Exit Planning: Key Tax, Investment and Income Decisions to Make Before 2026](https://balancewealth.uk/what-qualifies-for-business/) - If you’re thinking about exiting a business before 2026, you’ll need to consider much more than just minimising tax on sale. Business exit planning needs to cover a range of financial decisions, from post-sale planning to Inheritance tax (IHT) changes, income needs, and portfolio structuring. Your post‑sale balance sheet needs to meet your income needs
- [New rules for company directors: 2025 Identity Verification Law](https://balancewealth.uk/new-rules-for-company-directors-2025-identity-verification-law/) - From 18th November 2025, every company director in the UK will need to prove their identity to Companies House. This measure is part of sweeping reforms designed to increase transparency and security in the business world. The new rules for company directors aim to make sure people are real and fully accountable for managing companies.
- [What's the difference between a SIPP and a workplace pension?](https://balancewealth.uk/can-you-transfer-a-workplace-pension-into-a-sipp/) - Pensions are a very confusing area of financial planning that often requires professional advice, especially SIPPs (self-invested personal pensions) and workplace pensions. Our team are frequently asked what the difference is between a SIPP and a workplace pension. So, in this guide, we look at both pensions while answering some common questions. SIPP vs workplace
- [Wealth & Wisdom: How to have meaningful money conversations with your family](https://balancewealth.uk/money-conversations-with-family/) - Talking about money with your family is never an easy subject. However, knowing how to have meaningful money conversations is important, especially around major life events, legacy planning, values and long-term goals. Speaking openly with your loved ones helps everyone understand each other’s goals and avoids misunderstandings. And by having honest discussions, you can involve
- [The Year Ahead: Financial Planning With Purpose](https://balancewealth.uk/life-purpose/) - As we reach the end of the year, it’s a time for reflection and thinking ahead to the life you want to live in 2026 and beyond. By applying some thoughtful financial planning, you can turn your reflections into direction and bring your vision to life. So, how can you create meaningful and achievable goals
- [Autumn Budget 2025 summary: Key changes to your financial plan](https://balancewealth.uk/autumn-budget-2025-summary-key-changes-to-your-financial-plan/) - The Autumn Budget 2025 summary was delivered on 26 November by the Chancellor, Rachel Reeves, outlining a series of measures designed to raise £36 billion in revenue over the coming years. After months of speculation and budget rumours, the OBR released, in a rather unprecedented move, the fiscal forecasts an hour earlier than the Chancellor’s
- [Autumn Budget Rumour Round-Up: What Might Be Coming and What It Means for You](https://balancewealth.uk/pre-autumn-budget-2025-rumours/) - Every Autumn Budget creates winners and losers, especially for people thinking about retirement, passing on wealth or making big financial decisions. The challenge is knowing which rumours are worth paying attention to, and which you can safely ignore. In this article, we look at the Autumn Budget 2025 Rumours currently circulating, and our Chartered Financial
- [Are pensions still the right way to save for retirement?](https://balancewealth.uk/pension-tax/) - Have you been worrying about how your pension might be taxed in the future? If you’re wondering whether pensions are still the right way to save for your retirement, you’re not alone. Now’s the time to consider your estate planning and ensure you have the right approach to protect your money and your future lifestyle.
- [Can Financial Planning Reduce Stress?](https://balancewealth.uk/can-financial-planning-reduce-stress/) - It’s Stress Awareness Day on 6th November, and the ideal time to talk about one of the UK's biggest sources of stress: money. The Money and Pensions Service has some interesting insights that illustrate people’s relationship with their finances. We look at why financial planning could reduce your stress levels and give you peace of
- [When Should You Do Your Tax Planning?](https://balancewealth.uk/year-end-tax-planning/) - Every year, thousands of people miss out on valuable tax allowances simply because they leave their tax planning too late. So, when should you do your tax planning and why is early planning so beneficial for your finances? We look at the problem of leaving it too late and the ideal times of the year
- [Financial Curveballs in Midlife: How to protect future wealth](https://balancewealth.uk/protect-wealth/) - People often assume that serious financial planning at midlife only matters close to retirement. However, a sudden income shock or family change at this stage can unravel years of savings and limit future choices. So, how can you plan and prepare for financial challenges in midlife, while protecting your wealth at the same time? We
- [Future-Proofing Your Finances: Planning for life’s what ifs](https://balancewealth.uk/future-finances/) - Life is full of surprises, and while some are joyful, such as windfalls and successful career changes, others can be challenging. Many of us will experience illnesses, have care needs, and face unexpected expenses. However, by building a level of financial resilience, you’ll be more prepared for life’s “what ifs”. We look at the steps
- [Spending in Retirement: Why your mindset matters](https://balancewealth.uk/retirement-planning/) - When you think about retirement, you might picture long lunches with friends, lengthy holidays, and time to do those long-awaited hobbies. However, for many people, retirement doesn’t always feel like freedom. While trying to balance their desire to enjoy life, spending in retirement can come with the fear of running out of money or leaving
- [Charitable Giving & Legacy Planning: Preserving future wealth](https://balancewealth.uk/charitable-giving-legacy-planning-preserving-future-wealth/) - Did you know that by leaving 10% of your estate to a charity, your inheritance tax could be reduced to 36%? Charitable giving and legacy planning involves strategically incorporating philanthropic donations into your estate plan. This enables you to support the causes you care about, while potentially reducing your inheritance tax liability. We look at
- [Investment Advice in Nottingham: Protect wealth against inflation](https://balancewealth.uk/investment-advice-in-nottingham-protect-wealth-against-inflation/) - Inflation rose by 3.8% in July, which is higher than economists had previously expected and partly driven by a sharp rise in air fares. The Bank of England predicts inflation will peak at 4% this month before gradually easing back towards the 2% target for 2027. If you’re looking for investment advice in Nottingham, we
- [The risks of using AI for financial planning](https://balancewealth.uk/can-you-use-chatgpt-as-a-financial-advisor/) - Are more people turning to AI for their financial planning options? Although useful for research, various dangers and inaccuracies can occur when people use AI to plan their finances. We look at the concerns and risks of using AI for your financial planning and why these tools should be used for insights only. Can you
- [Outliving your money: The hidden risks in retirement planning](https://balancewealth.uk/risks-retirement-planning/) - Without careful planning, underestimating the length of your retirement could mean that your money doesn’t stretch as far as you’d like. We look at the hidden risks in retirement planning and what to consider, so you can enjoy your later years, instead of outliving your money. What is the biggest risk in retirement planning? Living
- [Part-Time Expat Guide: Living abroad 6 months a year](https://balancewealth.uk/part-time-expat/) - Are you thinking about living abroad for 6 months a year, while staying at home for the rest of the year? Living abroad as a part-time expat has become an increasingly popular lifestyle choice for UK residents over recent years. We’ve shared an expat guide to help you understand the tax implications and how to
- [Business relief and inheritance tax: What qualifies, what doesn’t, and what most people miss](https://balancewealth.uk/business-relief-inheritance-tax/) - Many high-net-worth individuals and business owners see business relief as an important part of their inheritance tax planning. However, due to a shifting legislative landscape, it’s easy to make risky assumptions resulting in expensive mistakes. We look at what you need to know so you understand exactly what qualifies and what doesn’t. Who qualifies for
- [Make your money work as hard as you are](https://balancewealth.uk/money-work-hard/) - August 14th is Financial Awareness Day, and a timely reminder of how even the most successful professionals can overlook their finances. When was the last time you revisited your financial plan? And how can you make your money work as hard as you are? We explore this topic in more detail by looking at some
- [The family gifting guide: Passing on wealth while you're still here](https://balancewealth.uk/family-gifting/) - Whether it’s helping with a first home, education, or simply easing cost-of-living pressures, family gifting can be a tax-efficient strategy. However, did you know that the second generation loses 70% of wealth? Therefore, it’s important to have the right structure in place to prevent this from happening. This guide walks you through smart ways to
- [Making summer count: Financial lessons from spending time with grandchildren](https://balancewealth.uk/financial-lessons-grandkids/) - During the summertime, many of us look forward to spending time with family, especially when you have grandchildren. These precious, meaningful moments are often fleeting and can serve as powerful reminders of what truly matters in life. We look at the financial lessons that can be learned when we reflect on the emotional purpose of
- [How to choose the right inheritance financial advisor](https://balancewealth.uk/inheritance-advice/) - Inheritance planning and advice require a tailored strategy that’s personalised to your exact needs and situation. So, it’s important to use a professional who can explain any tax implications and put appropriate measures in place to protect your estate. We share some guidance to help you find and choose the right inheritance financial advisor. Getting
- [Creating your ideal retirement: A lifestyle-first approach](https://balancewealth.uk/retirement-advice/) - When you are trying to visualise your future retirement, we recommend looking beyond numbers. Instead, start by assessing your values, aims and aspirations and the lifestyle you wish to lead both today and in the future. We explore the benefits of creating your ideal retirement based on a lifestyle-first approach and values-led financial planning. What
- [Should I save or invest? How to choose the right strategy](https://balancewealth.uk/better-to-save-or-invest/) - A common question we’re asked is, “Should I save or invest?”. The answer will depend on both your financial situation and your personal objectives. As savings and investments offer different strategies, we look at the differences so you can choose the right approach for you. How much should I save? Let’s start with savings. Many
- [Game, set and markets: What to learn about investing from tennis](https://balancewealth.uk/game-set-and-markets-what-to-learn-about-investing-from-tennis/) - Wimbledon started last week, and while many of us watch in anticipation, there’s a lot we can learn about investing from tennis. There are some useful parallels between tennis and using a sensible investment strategy. Whether facing a big decision, such as retirement or helping family, we look at how you can gain a competitive
- [Financial advice on Inheritance: What you need to know in 2025](https://balancewealth.uk/inheritance-planning/) - Whether you’re giving or receiving an inheritance, it’s important to get advice as early as possible so you can plan ahead. Tax-efficient financial planning helps to reduce any stress and manage the impact, so you can enjoy any inherited monies. We share some financial advice tips on inheritance to help you prepare in advance and
- [Sustainable investing: Good for the planet, good for your portfolio](https://balancewealth.uk/sustainable-investing-good-for-the-planet-good-for-your-portfolio/) - Today is World Environment Day, and this year’s aim is to encourage collective global action in tackling plastic pollution. As companies look to improve their own green agendas, did you know that you can support sustainable practices through your investment choices? We share some insights on how sustainable investing can be aligned with your personal
- [Building a house: A smart move for your wealth?](https://balancewealth.uk/land-purchase-vs-completed-property/) - Building a home rather than buying a completed property can offer significant tax advantages and wealth planning opportunities. Some of the main financial benefits include Stamp Duty Land Tax (SDLT), savings on construction costs and Capital Gains Tax (CGT) reliefs for main residences. If you’re considering building your own house, we look at what you
- [Building a meaningful life beyond your business](https://balancewealth.uk/building-a-meaningful-life-beyond-your-business/) - As a business owner, you work hard, and it will soon be time to reap the rewards of your efforts, but have you planned your exit strategy? How can you build a meaningful life beyond your business and what do you need to consider? We look at the emotional side of exiting, along with the
- [The financial and emotional toll of cognitive decline](https://balancewealth.uk/the-financial-and-emotional-toll-of-cognitive-decline/) - When a family member experiences cognitive decline, it can be a distressing experience for both them and their loved ones. Complex conditions such as dementia can make people very vulnerable. As May is National Mental Health Awareness Month, we’ve shared a guide to help families prepare for both the emotional and financial toll of cognitive
- [Bank Holidays and financial planning: What time off teaches us about wealth](https://balancewealth.uk/bank-holidays-financial-planning-what-time-off-teaches-about-wealth/) - May is the month of bank holidays, and there’s a lot we can learn from taking time off. Holidays are important for our wellbeing, allowing us to take a break and recharge. It’s also an opportunity for us to reflect without the busyness of our daily working lives. We look at the evolution of bank
- [Cultivating wealth: Financial planning strategies to help you flourish](https://balancewealth.uk/cultivating-wealth-financial-planning-strategies-to-help-you-flourish/) - It’s National Gardening Week, which aims to encourage people to take part in this healthy outdoor hobby. As many of our clients are keen gardeners, we often find that gardening analogies are useful for describing how to cultivate wealth. So, let’s look at some financial planning strategies that will help your money flourish and grow.
- [Empathy in retirement planning: Why it matters more than ever](https://balancewealth.uk/the-human-side-of-retirement-planning-why-empathy-is-essential/) - Discover why empathy is essential in retirement planning and how our goals-based approach puts people first, not just portfolios.
- [Trust in trusts: Inheritance Tax (IHT) planning](https://balancewealth.uk/trust-in-trusts-inheritance-tax-iht-planning/) - Following the UK Government's 2024 budget changes to inheritance tax (IHT), trusts are increasingly becoming more important in estate planning. There are various different types of trust, and even amid the current shifting legislation, they remain a valuable tool for tax-efficient wealth transfer. Let’s look at what you need to know when it comes to
- [How much is enough for a dream retirement?](https://balancewealth.uk/planning-for-retirement/) - A common concern as people approach retirement age is whether they’ve saved enough to enjoy their dream retirement. So, how much is enough and what level of retirement costs do you need to enjoy your later years? Let’s look at the different factors you need to consider. At Balance Wealth Planning, our focus is on
- [The financial egg hunt: Finding hidden wealth opportunities](https://balancewealth.uk/nest-egg/) - As financial planners, we love uncovering overlooked financial opportunities that can help to boost our clients’ wealth. Whether it’s hidden fees, unused allowances, or missed tax-saving strategies, we often find that many people unknowingly leave money on the table. So, as we approach Easter, we thought we’d uncover some valuable ways to help you build
- [Spring ahead with a seasonal financial review](https://balancewealth.uk/financial-spring-cleaning-checklist/) - It’s that time of year when many of us give our homes a spring clean, but have you ever considered applying this to your finances? If you want to manage your money efficiently, then carry out a financial review. We’ve shared a simple checklist to help you spring-clean your finances. Springtime is a good time
- [Making Life Count: Aligning your money with what matters](https://balancewealth.uk/align-money-with-what-matters/) - Many people assume that simply having more money means they will be happier. Although it certainly helps in terms of life’s comforts, it’s important to have a purpose when you are building your wealth. When money has meaning, you will enjoy life experiences, security and freedom. Let’s look at how you can align your money
- [Stamp duty changes: Can you afford to move or buy second home?](https://balancewealth.uk/stamp-duty-changes/) - In October, the Autumn Budget saw an immediate Stamp Duty increase for second properties, rising from 3% to 5%. However, more Stamp Duty changes are on the way, affecting homebuyers, as current thresholds decrease from 1st April 2025. We look at the potential impact if you’re considering whether you can move or buy a second
- [The hidden cost of holding cash: Why it could be hurting you](https://balancewealth.uk/holding-cash/) - The Bank of England recently cut interest rates from 4.75% to 4.5%, which is their lowest level for the past 18 months. Many people are unaware of the hidden cost of holding cash and the fact that it could be hindering your savings. In this blog, we look at how inflation erodes cash savings and
- [International Women’s Day: Taking control of your financial future](https://balancewealth.uk/financial-independence/) - International Women’s Day takes place on 8th March and this year’s theme is Accelerate Action for gender equality. There is still a big disparity between men and women when it comes to income and savings. We look at some of the ways women can take control of their financial futures to build wealth and to
- [Bucket list breaks: 7 great train journeys worldwide](https://balancewealth.uk/train-journeys-worldwide/) - Have you ever wanted to travel across the globe by railway? Whether you’re planning an extended bucket list break or a holiday when you retire, we explore seven great train journeys worldwide. We’ll also share tips on what to consider from a financial perspective. Travel the world by train From famous luxury trains to adventurous
- [Our guide to long-term funding for care homes](https://balancewealth.uk/long-term-care-funding/) - When it comes to navigating care and associated costs, the process and fees can seem complex. If you are trying to calculate long-term funding for care homes for you or a family member, there are various factors to consider. We explain how this works and your options. When someone needs to go into a care
- [Legacy of love: Navigating inheritance tax changes after the 2024 Budget](https://balancewealth.uk/what-are-the-changes-to-inheritance-tax/) - As it’s Valentine’s Day this week, we wanted to look at how you can leave a legacy for your loved ones in view of recent inheritance tax changes. There have also been proposals to apply inheritance tax to unused pension savings, although this is under consultation at present. We look at ways you can create
- [Year-end tax planning and State Pension back payments](https://balancewealth.uk/state-pension-back-payments/) - As we approach the final financial quarter, now’s a good time to focus on your year-end tax planning. Make use of your pensions and savings allowances and check that you’re up to date with your National Insurance contributions. The cut off for State Pension back payments is 5 April 2025, and you can currently go
- [What are the tax implications of receiving a gift?](https://balancewealth.uk/inheritance-tax-lump-sum-gift-allowances/) - It’s common for parents and grandparents to provide large cash gifts to help reduce future inheritance tax liabilities. However, the 7-year rule applies to gifting, so it’s important to know the rules when receiving lump sums from family members. So, what are the tax implications of receiving a gift? We look at the potential inheritance
- [Jet-Set without regret: Financial planning for your dream holiday](https://balancewealth.uk/financial-planning-for-your-dream-holiday/) - At this time of year, many of us yearn for a change of scenery, far away from the UK’s dull grey skies. Due to the annual surge in travel bookings, January has become synonymous with holiday planning. There are many psychological benefits to planning your dream holiday and organising your finances at the start of
- [How much money do you need to stop working?](https://balancewealth.uk/estimate-expenses-in-retirement/) - A common question our clients ask is how much money they will need to stop working. If you are considering when you will be able to retire, you’ll need to know your numbers and make a realistic financial plan. January is a good time to review your finances; you might even find that you can
- [Are you missing out on pension tax relief?](https://balancewealth.uk/how-to-claim-higher-rate-tax-relief-on-pension-contributions/) - As the 31 January tax deadline approaches, have you factored in pension tax relief? It’s been reported that millions of pounds of higher rate tax relief isn't being claimed through self-assessment tax returns. In this article, we explain how you can check whether you are missing out on this form of tax relief. What is
- [Balance: Wealth Planning: Our 2024 financial planning news round-up](https://balancewealth.uk/balance-wealth-planning-news/) - It’s certainly been a busy year at Balance: Wealth Planning! So, we thought we’d share a round-up of our financial planning news, including updates, charity challenges, and award wins. Let’s look back at the past year to recap what we’ve achieved as a firm. 2024 was a momentous year for politics, global stock markets, and
- [From dark days to brighter futures: Financial planning lessons inspired by the Winter Solstice](https://balancewealth.uk/financial-planning-lessons/) - On 21 December, it will be the shortest day of the year and the longest night. Traditionally, this day symbolises new beginnings with the subsequent return of the light. It’s also a useful time to reflect on our long-term plans for the future. There are various financial planning lessons we can learn around the Winter
- [ISAs: 25 years of tax-free savings](https://balancewealth.uk/tax-free-savings/) - The ISA – or Individual Savings Account - first started in 1999 as an initiative from then Chancellor Gordon Brown. The aim was to encourage people to save using a brand-new, tax-free savings approach. We look at the benefits of holding an ISA when it comes to tax-efficient savings, along with some recent changes. It’s
- [Tis the season of giving: Volunteering in retirement and later life](https://balancewealth.uk/volunteering-ideas/) - Are you thinking of volunteering in retirement or later in life? According to the NCVO (The National Council for Voluntary Organisations), most volunteers are aged between 65 and 74. From community gardens to arts and crafts and befriending schemes, we’ve shared some ideas to inspire you to give back to your local community. How can
- [What it means to be a Chartered Financial Planner](https://balancewealth.uk/chartered-status/) - Balance: Wealth Planning is one of only a few firms in the UK that have obtained Chartered status. Considered the ‘gold standard’ in financial planning, we share with you what it means to work with a Chartered Financial Planner. Chartered status raises standards According to the Chartered Insurance Institute (CII)’s database, there are only 643
- [From Chaos to Clarity: Financial planning lessons from the Black Monday crash](https://balancewealth.uk/from-chaos-to-clarity-financial-planning-lessons-from-the-black-monday-crash/) - On 19 November 1987, a stock market crash shook the foundations of financial institutions around the world. Coined Black Monday, this event demonstrated the relationship between global markets and the impact on investor confidence. Many financial planning lessons have been learned from this infamous crash. Let’s look at the key takeaways. What caused the Black
- [Retirement on the Road: Driving your camper van or motorhome dream forward](https://balancewealth.uk/motorhome-retirement/) - Do you have your heart set on a motorhome retirement? Are you planning a camper van tour in the UK or abroad? We have compared camper van and motorhome lifestyles, along with what you need to factor in from a financial perspective. Whether you’ve had the opportunity to retire early or you’re planning ahead, it’s
- [10 Years of building financial futures - Balance: Wealth Planning](https://balancewealth.uk/changes-to-financial-planning-industry/) - This week, Balance: Wealth Planning celebrates 10 years of building financial futures for our clients. We look at some of the changes that have happened over this time and the difference a decade can make to your financial planning. Research shows that on average people can enjoy a £48,000 increase on their assets by taking
- [Autumn Budget 2024: What it means for you](https://balancewealth.uk/autumn-budget-2024-what-it-means-for-you/) - Chancellor Rachel Reeves unveils Labour’s first budget in 14 years On Wednesday, 30 October, Chancellor of the Exchequer Rachel Reeves presented the Autumn Budget 2024. The Labour Party’s first budget since 2010 marked a significant fiscal shift aimed at fostering long-term economic growth and addressing challenges from the last 14 years. Claiming this budget will
- [Do you pay tax on selling second-hand goods?](https://balancewealth.uk/do-you-pay-tax-on-selling-second-hand-goods/) - Do you sell used items online? A common question is whether you have to pay tax on selling second-hand goods. This will depend on the amount you earn and whether HMRC considers you a trader. Although there aren’t any new tax rules that have been introduced to sellers, platforms like eBay and Vinted now have
- [All that glitters is not gold: what to consider before investing](https://balancewealth.uk/gold-investing-explained/) - At Balance: Wealth Planning, we are regularly asked about gold investing, including using this as a way of diversifying a pension. However, we would advise caution if you are thinking of investing in gold as there are pros and cons to this commodity. In this article, we explain how gold investing works and why you need
- [Financial planning for business owners](https://balancewealth.uk/business-protection/) - It’s standard practice for most businesses to use an accountant, however, the benefits of financial planning advice should not be overlooked. We look at the importance of financial planning for business owners, from pensions to protection, remuneration and personal wealth strategies. As a business owner, you’ll want to make the most of any opportunity that
- [Financial planning goals: how to find your why](https://balancewealth.uk/emotions-drive-decision-making/) - Nowadays, a common phrase you will often hear in both life and business is “find your why”. So, how can you find your why and what does this exactly mean? Let’s look at why finding your ‘why’ is the key to setting successful financial planning goals. “Your WHY is your purpose, cause, or belief. WHY
- [Your guide to retirement and relocation – Balance: Wealth Planning](https://balancewealth.uk/guide-to-retirement-and-relocation/) - Do you plan to relocate when you retire? Whether you’ve always wanted to live by the seaside or within a wooded valley, we’ve created a guide to retirement and relocation. We also explore five of the UK's most desirable places to retire. Before we share some practical advice, let’s talk about Susie. As one of
- [How to maximise your good health years](https://balancewealth.uk/maximise-good-health/) - According to the Office of National Statistics (ONS), the number of years we are expected to live in good health has fallen. As a result, it’s even more crucial than before to maximise your good health years, so you can live for the moment. It’s also vital that you have the opportunity to enjoy the
- [Why pensions matter and offer more than just retirement savings](https://balancewealth.uk/pensions-retirement/) - It’s Pensions Awareness Week, where the aim is to share straightforward and impartial advice with people about their pensions. Pensions matter more than just offering retirement savings; they can be your legacy for the next generation. After removing the lifetime allowance, we explore the importance of tax-efficient wealth management when it comes to pensions. Lifetime
- [The gift of giving: Gift Aid explained | Balance: Wealth Planning](https://balancewealth.uk/gift-aid-tax-relief/) - Despite the economic challenges over recent years, UK citizens are still showing incredible generosity when it comes to charitable donations. However, many people are unaware of how Gift Aid works and the tax relief available when giving to charity. From Gift Aid explained to tax benefits, we share what you need to know if you
- [The benefit of financial planning fixed fees](https://balancewealth.uk/the-benefit-of-financial-planning-fixed-fees/) - According to an article featured in Citywire, only 1.3% of financial advisers do not charge percentage-based advice fees. At Balance: Wealth Planning, we provide financial planning using fixed fees. Our team don’t believe it’s fair to charge people different rates for a similar service. In this blog, we share our findings on financial advice fees,
- [6 Things to consider when buying a classic car - Balance: Wealth](https://balancewealth.uk/classic-car-investing/) - Are you thinking about buying a classic car? Perhaps you dream of driving a vintage vehicle? Whether as a hobby or to make some money, many people own or invest in classic cars. Let’s look at what you need to consider when purchasing a classic motorcar. Are you an enthusiast or an investor? You might
- [Balancing lifestyle and legacy: financial advice for inheritance](https://balancewealth.uk/planning-for-family-inheritance/) - When it comes to financial advice for inheritance, there needs to be a balance between people’s present-day lifestyles and their legacy planning. When money does not seem to stretch far enough today, many people wonder how they can plan for retirement, let alone their legacy. Equally, if you spend too much time on your estate
- [Financial lessons from Greek philosophers](https://balancewealth.uk/financial-lessons/) - You may have heard the saying “What did the Greeks do for us?” in relation to democracy, language, science, medicine, and so much more. However, there are various financial lessons from Greek philosophers that can help us shape the way we manage our money. We look at how you can apply some ancient wisdom to
- [What does inflation mean for savings? Balance: Wealth Planning](https://balancewealth.uk/inflation-and-interest-rates/) - In June 2024, the Bank of England announced they had achieved their inflation target of 2%. So, what does inflation mean for savings and investments? Let’s look at how you could be affected and what you need to know so you can plan. Recent inflation decrease At the time of writing (June 2024), the Bank
- [To overpay or not overpay your mortgage](https://balancewealth.uk/is-it-better-to-overpay-mortgage-or-save/) - Due to the high interest rates over recent years, many homeowners have attempted to offset the impact by making overpayments on their mortgages. A common question is whether it’s better to overpay or not overpay your mortgage. Let’s look at the pros and cons of overpaying compared to boosting your pensions and savings. Is it
- [Can you trust financial advice on social media?](https://balancewealth.uk/influencer-prosecutions-for-cfd-investments/) - In today’s online world, many people turn to social media for information and insights. But can you trust financial advice on social media? Relying on what’s being said in a social post by unscrupulous companies and individuals could cost you your savings. This is a growing concern that has recently led to prosecutions by the
- [How to deal with emergency tax on pension withdrawals](https://balancewealth.uk/emergency-tax-code-for-pension/) - Many people have to pay emergency tax on pension withdrawals. Usually, this situation arises when a large or ad hoc sum has been withdrawn. HMRC then applies an ‘emergency tax code’ to income payments. Let’s explore why this happens and what you can do when it comes to reclaiming overpaid pension tax. Emergency tax code
- [What happens if you don't have a Lasting Power of Attorney?](https://balancewealth.uk/lasting-power-of-attorney/) - A Lasting Power of Attorney is a legal document that gives those you trust the ability to make decisions on your behalf. It comes into force if you were to lose mental capacity, or you can use it to appoint someone to help you make decisions. So, what happens if you don't have a Lasting
- [Spotting the warning signs of a romance scam](https://balancewealth.uk/signs-of-a-romance-scam/) - Romance scams involve people being conned into giving money to a criminal while believing they are in a romantic relationship. We look at the warning signs of a romance scam to help you avoid losing your savings and learn how to spot a potential scammer. “(2022-2023) 8,036 reports of romance fraud, amounting to over £92m
- [How to secure your future State Pension value](https://balancewealth.uk/future-pension-value/) - According to a recent Martin Lewis article, many people may be eligible to pay extra contributions to gain thousands of pounds of State Pension income. Knowing how to secure your future State Pension value relies on the number of National Insurance contributions you have made. We explore this topic in more detail to give you
- [How do you get a postal vote?](https://balancewealth.uk/how-do-i-vote/) - Prime Minister Rishi Sunak recently announced that the 2024 General Election will be held on 4th July. It’s important to vote and have your voice heard. However, turning up at a polling station is not always possible or convenient for many people. So, how do you get a postal vote? Let’s look at how you
- [The pros and cons of equity release](https://balancewealth.uk/the-pros-and-cons-of-equity-release/) - Equity release is a way of borrowing against the value of your property to free up money. This could be to pay for urgent repairs, home improvements or to consolidate various debts. But there are pros and cons to equity release, and we would always suggest a cautious approach. Let’s look at how this type
- [Forever renters and the impact on the property market](https://balancewealth.uk/forever-renters/) - Over recent years, the rising cost-of-living has made housing unaffordable, which is starting to affect middle earners. This has led to a rise of forever renters having an impact on the property market. The problem lies with the disproportionate gap between average income and house prices. We explore the topic of forever renters and how
- [Does your family know your financial plans?](https://balancewealth.uk/family-financial-plans/) - It’s common for people to pass away without their family knowing their financial plans. This can lead to various problems, especially when you are attempting to sort out a partner’s financial affairs. We have first-hand experience dealing with these types of issues. Therefore, we’ve produced a helpful checklist to help you organise critical aspects of
- [What happens when there are no beneficiaries?](https://balancewealth.uk/what-happens-when-there-are-no-beneficiaries/) - Making sure you have a Will and that you do not die intestate is very important. But what happens when there are no beneficiaries or those named on your Will have also passed away? There are ways to cover all contingencies in your Will, including nominating a ‘longstop’ beneficiary. We have provided a simplified guide
- [Build an investment portfolio](https://balancewealth.uk/build-an-investment-portfolio/) - There are many investing strategies, and it’s essential to match your approach to your objectives and level of risk. The following guide provides some helpful insights into building an investment portfolio. Investing is a long-term strategy Our first and most important point about building an investment portfolio is the fact that it’s a long-term strategy.
- [How to avoid pension and investment scams](https://balancewealth.uk/how-to-avoid-pension-and-investment-scams/) - As the saying goes, if something is too good to be true, then it probably is… Knowing how to avoid pension and investment scams is crucial if you want to protect your hard-earned cash. Sadly, financial crime has increased substantially over recent years. So, it’s important to know how to spot a fraudulent scheme so
- [Why credit card debt is your financial worst enemy](https://balancewealth.uk/debt-management-support/) - Millions of people in the UK are struggling with credit card debt. However, this type of debt is your worst financial enemy. Some helpful advice on managing this type of debt is available online, which we’ve summarised in a guide. “27 million people in the UK have debts, with five million owing more than £10,000
- [Paid your mortgage off? What you can do next…](https://balancewealth.uk/paid-your-mortgage-off-what-you-can-do-next/) - You’ve paid off your mortgage, so what can you do next? Firstly, you should congratulate yourself, as paying off a mortgage is a big achievement. This will free up your money, giving you more financial freedom. How you then choose to use this extra cash will depend on your aims and aspirations for your current
- [Have you heard about the new ISA rules?](https://balancewealth.uk/have-you-heard-about-the-new-isa-rules/) - From April 2024, some significant changes will be made to ISAs (individual savings accounts). If you haven’t heard about the new ISA rules, we have summarised them below. Changes to ISAs The minimum age for opening an ISA increases to 18 From April, you will only be able to open an adult cash ISA from
- [Should you invest in pensions or property?](https://balancewealth.uk/should-you-invest-in-pensions-or-property/) - The economic landscape over the past few years has left many people feeling confused about their investment strategies. Are you unsure whether to invest in pensions or property? We look at the current facts and stats so you can weigh up the pros and cons. Are pensions worth it? The short answer is yes. Despite
- [How to avoid regrets through financial planning – Balance: Wealth](https://balancewealth.uk/how-to-avoid-regrets-through-financial/) - Often, it’s not until we reach old age or when we’re faced with a crisis like a terminal illness that we reflect on our lives. Knowing how to avoid regrets through financial planning can offer a much-needed layer of security and a buffer for difficult times. Let’s explore the different ways you can make meaningful
- [Spring Budget 2024: What it means for you](https://balancewealth.uk/spring-budget-2024-what-it-means-for-you/) - On Wednesday, 6th March, the Chancellor of the Exchequer, Jeremy Hunt, delivered his Spring Budget 2024 to Parliament. The budget will likely be the last major fiscal event before the general election. In his 'Budget for long term growth', the main headlines we think you should know are as follows; Tax Mr Hunt announced a
- [Retiring during a recession – Balance: Wealth Planning](https://balancewealth.uk/retiring-during-a-recession-balance-wealth-planning/) - Economists recently announced that the UK has gone into recession, due to shrinkage of gross domestic product (GDP) in the last two quarters. Many people are worried that retiring during a recession could have a negative impact on their money and lifestyle. Let’s look at how this could affect retirees’ pension income and living costs.
- [The importance of nominating pension beneficiaries](https://balancewealth.uk/lump-sum-death-benefit-allowance/) - On 6 April, the Lifetime Allowance (LTA) will be abolished. In its place, the Lump Sum Allowance (LSA) and Lump Sum Death Benefit Allowance (LSDBA) will come into force. As a result, nominating pension beneficiaries will become more important than ever. There may also be advantages for some people to wait until the new tax
- [Common phases of retirement spending](https://balancewealth.uk/common-phases-of-retirement-spending/) - Across the globe, different interpretations exist regarding the common phases of retirement spending. It’s true what they say - when failing to prepare, you are preparing to fail. So, we’ve shared our thoughts on how to plan and budget for your retirement income. First, it’s important to recognise how retirement has changed when compared to
- [Living through the different stages of life ages](https://balancewealth.uk/different-stages-of-life-ages/) - As we get older, we will naturally experience changes and challenges in our lives. Across the different stages of life ages, we may have to make certain decisions. Let’s explore living through the different stages of life ages, typical phases in our lives and what you might need to consider from a financial perspective. Key
- [Our opinion: Martin Lewis report on inheritance tax](https://balancewealth.uk/martin-lewis-inheritance-tax/) - Last month, financial journalist Martin Lewis reported on inheritance tax and some common “misunderstandings” around the rules. Here’s our take on the “myth-buster” video he recently shared and our guide to help you with your inheritance tax planning. Inheritance tax rules Here are our thoughts on the five key rules shared by Martin Lewis on
- [What to do if you win the lottery in the UK](https://balancewealth.uk/what-to-do-if-you-win-the-lottery-in-the-uk/) - Congratulations, you’re a lottery winner! Whether it’s a few thousand or you’ve won the jackpot, it’s worth knowing what to do if you win the lottery in the UK. Coined as “sudden wealth syndrome”, sometimes the outlook for lottery winners isn’t as rosy as you would think. We look at the challenges and share some
- [Won the Lottery? What happens next…](https://balancewealth.uk/won-the-lottery-what-happens-next-2/) - Most of us will never experience winning the lottery, but if you are lucky enough to see your ticket hit the jackpot, what do you do next? Even if you haven’t won the lottery, you could find yourself inheriting a small fortune. Acquiring unexpected wealth brings with it a range of different considerations, as well
- [What to do with a lottery win](https://balancewealth.uk/what-to-do-with-a-lottery-win/) - Here’s a hypothetical for you; if you won the lottery tomorrow, what would you do with your lottery win? Winning the lottery is a life event that very few are fortunate enough to experience. Yet, contemplating this idea can offer insight into what you want out of life – your vision and goals. If someone
- [What happens next for lottery winners?](https://balancewealth.uk/what-happens-next-for-lottery-winners/) - Imagine checking your numbers to discover you've won the jackpot? It's something dreams are made of, and if that day ever comes, you've probably spent the money in your head a few times over. But before you jet off on a spontaneous trip to that desert island far away, what happens next for lottery winners?
- [10 Carbon-friendly home improvements](https://balancewealth.uk/10-carbon-friendly-home-improvements/) - As it’s Big Energy Savings week, we thought we’d share several carbon-friendly home improvements you can make to reduce your bills. Led by the Energy Savings Trust, this campaign raises awareness of energy efficiency measures that can help to lower costs. One way to rate your home’s energy efficiency is by having an EPC (Energy
- [How much do I need to retire?](https://balancewealth.uk/pension-advice-in-nottingham-lincoln/) - In the month of January, many people are reviewing their finances, especially those heading towards retirement age. A common question we are regularly asked is “how much do I need to retire?”. So, we’ve put together a quick guide with the latest recommendations. What retirement income do I need? Comfortable or luxurious retirement The first
- [The impact from the new divorce rules on financial planning](https://balancewealth.uk/the-impact-from-the-new-divorce-rules-on-financial-planning/) - Did you know Monday, 8 January, was “Divorce Day”? According to the legal sector, the first working Monday of the year always sees a spike in divorce enquiries. In 2022, the new “no-fault” divorce legislation came into force. We thought we’d look at the impact from the new divorce rules on financial planning and share
- [Start the new year fresh](https://balancewealth.uk/start-the-new-year-fresh/) - Being only a few days into the new year, many people are starting to plan for 2024. We’ve created a handy checklist to help you start the year fresh financially. If you’ve never budgeted before, now’s the time to find out how much money you could save for the future. Check your outgoings Before you
- [Pension vs ISA: The Big Debate](https://balancewealth.uk/pension-vs-isa-the-big-debate/) - Various options are available if you’re looking at tax-free ways to save. When it comes to a pension vs ISA, let’s explore the different benefits so you can compare the differences. Should you increase your pension? First, let’s look at pensions. There are various types of pension available, but all have the same function: to
- [5 Side hustle ideas for semi-retirement](https://balancewealth.uk/5-side-hustle-ideas-for-semi-retirement/) - Are you thinking of semi-retiring and starting a small venture, but you’re unsure what to do? We’ve shared a guide for some inspiration. Let’s look at five side hustle ideas for semi-retirement. “Don't simply retire from something; have something to retire to." Harry Emerson Fosdick Starting a small business when you are semi-retired can give
- [12 Ways to conquer your financial planning for Christmas](https://balancewealth.uk/12-ways-to-conquer-your-financial-planning-for-christmas/) - It’s that time of year when many of us start reflecting on the past 12 months from a financial perspective. Our team have listed twelve ways to help you conquer your financial planning for Christmas and to give you a more confident outlook for 2024. As they say, a little planning goes a long way!
- [Autumn Statement 2023: What it means for you](https://balancewealth.uk/autumn-budget-2023-what-it-means-for-you/) - On 22 November, the Chancellor of the Exchequer, Jeremy Hunt, delivered his Autumn Statement to Parliament. Mr Hunt outlined most of his "110 measures to help boost the economy", with significant statements relating to a cut in the National Insurance tax and to reform work-related state benefits. Below are the key points from the statement
- [Giving tax-efficient gifts at Christmas](https://balancewealth.uk/giving-tax-efficient-gifts-at-christmas/) - The festive season is nearly upon us, along with the annual challenge of finding suitable presents for loved ones. If you are considering giving tax-efficient gifts at Christmas, it’s vital to know the rules around gifting. There are various ways to give money to your family including tax-free ISAs. Cash lump sums It is common
- [Preparing financially for ill health](https://balancewealth.uk/preparing-financially-for-ill-health/) - No one knows what lies ahead when it comes to their future, so preparing financially for ill health can be difficult. Being able to prepare in advance for a chronic illness or a serious condition relies on careful planning and suitable protection. Let’s look at the emotional, mental and financial impact on people and their
- [Talking to adult children about financial planning](https://balancewealth.uk/talking-to-adult-children-about-financial-planning/) - As it’s Talk Money Week, we thought we’d look at the importance of discussing money matters with your family. Talking to adult children about your financial planning aims might seem challenging. It’s a subject that people often put off because conversations can veer into difficult topics such as end of life. But it can be
- [Quiz: Are you spending too much money?](https://balancewealth.uk/quiz-are-you-spending-too-much-money/) - Today is National Stress Awareness Day, which raises awareness of the impact of stress. People's spending habits can often become a big source of worry. If you’re concerned that you’re spending too much money, we have created a quiz to help you consider your habits. 1. How quickly do you spend your wages? a) Instantly!
- [How to find a lost pension](https://balancewealth.uk/how-to-find-a-lost-pension/) - National Pension Tracing Day is on Sunday 29th October this year. Knowing where all your pensions are located is important, as you could be losing some of your past hard-earned money. How to find a lost pension is an increasingly pressing issue for many people. Let’s look at what you can do to track down
- [10 Ways to remember family when they’re gone](https://balancewealth.uk/10-ways-to-remember-family-when-theyre-gone/) - Losing a loved one can be a deeply emotional and stressful experience, and many people worry about their memories fading. There are some meaningful ways to remember family members when they're gone. Let’s look at ten ideas to help you commemorate their lives. Ashes in glass jewellery An increasingly popular way to remember a loved
- [A guide to inheriting property](https://balancewealth.uk/guide-to-inheriting-property/) - Have you recently inherited a property and you’re unsure what to do? In our guide to inheriting property, we look at how probate applies and inheritance tax (IHT). We also share the impact of the latest property law changes, which applies to landlords and second homes. 36% of people inherit a property (Market Financial Solutions)
- [What are the benefits of financial planning?](https://balancewealth.uk/what-are-the-benefits-of-financial-planning/) - It was World Financial Planning Day on 4th October, which celebrates the value of working with a financial planner. So, what are the benefits of financial planning and why should you consider putting a plan in place? Let’s explore the different advantages and how this can help you and your family, both in the short
- [Property and paying for care](https://balancewealth.uk/property-and-paying-for-care/) - When people reach their later years, they may have to face the high cost of care fees. But what happens in terms of your property and paying for care? There are some situations where your home will be exempt from local authority means testing. We look at what you need to know when it comes
- [Financial planning for women](https://balancewealth.uk/financial-planning-for-women/) - International Equal Pay Day is on 18 September and, although pay inequalities have continued, women are gaining financial power. It’s expected that more than two-thirds of UK wealth will be in women’s hands by 2025. Financial planning for women is an increasingly important topic for many reasons. We explore the ongoing challenges faced by women.
- [Everything you need to know about pensions](https://balancewealth.uk/everything-you-need-to-know-about-pensions/) - As it’s Pension Awareness Week, we thought we’d share everything we think you need to know about pensions! This simple guide explores different types of pensions, allowances, and limits. We also explain the difference between drawdown and buying an annuity. How does a pension work? A pension is a type of savings and investments scheme.
- [Can you leave your pension to charity?](https://balancewealth.uk/leave-pension-to-charity/) - International Charity Day is on 5th September and this year to mark the occasion, our team completed a sponsored charity walk. Did you know that charitable giving is a tax-efficient way to use your hard-earned wealth? But can you leave your pension to charity and, if so, how do you arrange this? Leaving money to
- [Is it better to sell or renovate your home?](https://balancewealth.uk/is-it-better-to-sell-or-renovate-your-home/) - Summer can be a popular time of year for property sales. Buying a property is likely to be the biggest investment you will ever make. But in the current financial climate, is it better to sell or renovate your home? There is no magic answer to this question, as it will depend on your current
- [7 Lifestyle apps for a better work-life balance](https://balancewealth.uk/7-lifestyle-apps-for-a-better-work-life-balance-2/) - In today’s busy modern world, achieving a work-life balance might seem like an impossible task for many people. Although technology can often be the cause of our prolonged, busy working days, it can also be used to improve our well-being. We’ve made a list of 7 lifestyle apps that could help you enjoy a better
- [Supporting children at University](https://balancewealth.uk/supporting-children-at-university/) - As the cost of living has risen rapidly over the past year due to inflation and interest rates, it’s much harder for students to live. Supporting children at university can become a challenge if you haven’t planned ahead. We have listed different ways you can help your children, so they can focus on their studies
- [How to avoid inheritance disputes](https://balancewealth.uk/how-to-avoid-inheritance-disputes/) - Over the past few years, there has been a rise in estate disputes, which is thought to be a result of cohabiting couples and blended families. Knowing how to avoid inheritance disputes after someone dies will save a lot of emotional anguish at a time when you are grieving. Let’s look at some common scenarios
- [Bridging the state pension gap](https://balancewealth.uk/state-pension-gap/) - For many people, retirement might seem a long way off. But there’s a growing concern about the disparity between people leaving work and then having to wait for their state pension to begin. Depending on the measures you put in place today, bridging the state pension gap might not be quite as daunting as expected.
- [6 UK travel bucket list challenges](https://balancewealth.uk/uk-travel-bucket-list-challenges/) - When it comes to travel, there are so many interesting challenges you can do within our own shores. Staying within our borders is also a more sustainable way to travel too. We share six UK travel bucket list challenges to inspire your imagination and your adventures. Dine at Michelin star restaurants At the time of
- [Using the right goals to build your wealth](https://balancewealth.uk/using-the-right-goals-to-build-your-wealth/) - This week marks the start of the FIFA Women’s World Cup. Whether you’re a sports fan or not, there’s no denying the power of using goals in sport. But did you know that using the right goals can help you build your wealth too? Let’s look at the benefit of setting focused goals with the
- [Are annuities worth it?](https://balancewealth.uk/are-annuities-worth-it/) - Over recent years, the financial planning world hasn't had much reason to recommend annuities. But this has changed following a series of interest rate increases since the Budget last October. So, are annuities worth it? Previously, the rates were so low and due to the change in pension flexibilities, they lost their appeal. We look
- [7 Volunteering activities for retirees](https://balancewealth.uk/7-volunteering-activities-for-retirees/) - As it’s Volunteers’ Week, we thought we’d explore some volunteering activities for retirees. Whether you are retired or about to retire, becoming a volunteer is a great way to give back to your local community and raise awareness of a specific cause. We look at several volunteering ideas to give you some inspiration. Charity shop
- [Financial planning can help your mental health](https://balancewealth.uk/financial-planning-can-help-your-mental-health/) - It’s Mental Health Awareness Week, which runs until Sunday 21 May, and this year’s theme is “anxiety”. The current steep rise in the cost of living has increased many people’s anxiety levels. So, we thought we’d explain how financial planning can help your mental health, along with some useful tips to help you manage your
- [How to avoid fraud and tax scams](https://balancewealth.uk/how-to-avoid-fraud-and-tax-scams/) - Sadly, we are seeing a rise in sophisticated financial scams. If you fall victim, you are unlikely to get your money back. So, how can you avoid fraud and tax scams? Let’s look at what you need to be aware of before responding to an alleged “financial investigation”. A recent type of fraud involves someone
- [Investing for the future: lessons from King Charles III](https://balancewealth.uk/investing-for-the-future-lessons-from-king-charles-iii/) - This month’s royal coronation has inspired us to think about the financial planning lessons we can learn from King Charles III. Everyone should be thinking about investing for the future; this isn’t always in the financial sense. King Charles is a well-known philanthropist, supporting numerous causes and initiatives. Recently, he personally donated money to help
- [Sustainable, ethical options for pensions, savings and investments](https://balancewealth.uk/sustainable-ethical-options-for-pensions-savings-and-investments/) - Saturday 22 April is Earth Day and this year’s theme is ‘Invest in our Planet’. The aim of this campaign is to engage governments, businesses and organisations to be more accountable for their environmental actions. Many of our clients play their part by focusing on sustainable, ethical options for pensions, savings and investments. Let’s look
- [How to look after your nest egg this Easter](https://balancewealth.uk/how-to-look-after-your-nest-egg-this-easter/) - For many of us, Easter marks the change in season to spring. After you have devoured all those chocolate eggs, it’s a great time of year to not only put your house in order but your finances too. If you’re wondering how to look after your nest egg, we share some ideas. Why have a
- [Spring Budget 2023: What it means for you](https://balancewealth.uk/spring-budget-2023-what-it-means-for-you/) - On 15th March, the government announced the Spring Budget 2023, with some major statements made by the Chancellor of the Exchequer, Jeremy Hunt. The budget comes with the UK still in a cost-of-living crisis that has left millions of households struggling to pay their bills with fuel, food, and energy prices being the highest on
- [The misconceptions around protection](https://balancewealth.uk/the-misconceptions-around-protection/) - There are so many misconceptions around protection. In general, public opinion on the insurance industry is often negative, despite the positive safeguarding benefits for families. Protection is always a sensitive topic, resulting in conversations people would prefer to put off. We look at the disconnect between the insurance industry and people’s perceptions. 1 in 5
- [Are electric vehicles (EVs) still tax efficient](https://balancewealth.uk/are-electric-vehicles-still-tax-efficient-are-evs-tax-efficient-benefit-in-kind-for-evs/) - Over the past few years, there’s been an increase in people buying electric vehicles, or EVs as they’re also known. But do these types of vehicles still offer tax relief for companies? Have you been considering changing your fleet to electric vehicles? Let’s look at the latest updates to see whether EVs offer any viable
- [7 Ideas for ecotourism holidays](https://balancewealth.uk/7-ideas-for-ecotourism-holidays/) - 7 Ideas for ecotourism holidays Nowadays, an increasing number of people are opting for ecotourism holidays, where their travel has less impact on the environment. Climate change is an urgent issue that affects us all, and this type of holiday enables you to enjoy locations in a respectful way. There are various ways to travel
- [Financial planning and cash-flow modelling](https://balancewealth.uk/financial-planning-and-cash-flow-modelling/) - A financial plan gives you the knowledge you need to make important decisions about your life, while a stable cash flow will enable you to achieve your plans. So how do financial planning and cash-flow modelling work? Let's look at this topic in more detail, so you have a greater understanding of what happens when
- [Planning for the new tax year and Budget changes](https://balancewealth.uk/planning-for-the-new-tax-year-and-budget-changes/) - In 2022 rising inflation led the government to increase national insurance by 1.25% and raise the threshold to match the income tax threshold at £12,570. So, planning for the new tax year and mitigating the impact of last year’s Budget changes is essential. We have prepared a handy checklist to help you plan ahead. PAYE
- [Do you need inheritance money advice?](https://balancewealth.uk/do-you-need-inheritance-money-advice/) - Have you recently inherited a large sum of money? 2022 was a record-breaking year for inheritance tax. So, if you need inheritance money advice, then it’s more important than ever to talk to a professional financial planning firm. We share our guide to give you greater clarity on inheritance tax and some ways to secure
- [What does financial planning cover?](https://balancewealth.uk/what-does-financial-planning-cover/) - When it comes to managing your financial matters, some focused planning will help you achieve the lifestyle and future you desire. So, what does financial planning cover exactly? Let’s take a deeper look so you can understand what’s involved when you work with us. Cash flow for your lifestyle People tend to think of cash
- [Combining hobbies with holidays](https://balancewealth.uk/combining-hobbies-with-holidays/) - Are you looking for interesting holiday ideas this year? Combining hobbies with holidays is one way to enjoy some quality time. We share some ideas where you can enjoy your favourite activities with journeys you can do by foot, car, sea, or rail. Enjoy home comforts Let’s start with destinations within easy reach of home.
- [Our guide to busting financial acronyms](https://balancewealth.uk/our-guide-to-busting-financial-acronyms/) - Do you know the difference between a SIPP and a SSAS? We like to talk to our clients in an easy-to-understand, non-jargon way, but many financial terms still need to be explained. So, we decided to bust through some typical financial acronyms and jargon to give you greater clarity when discussing your financial planning. Pension
- [Appointing the right executors and attorneys](https://balancewealth.uk/appointing-the-right-executors-and-attorneys/) - When it comes to making a Will or arranging Lasting Powers of Attorney, appointing the right executors and attorneys is important. These roles involve controlling your estate and assets and possibly making life-changing decisions on your behalf. So let's look at these roles and how to appoint suitable people to act as your executors and
- [Living abroad as a part-time expat](https://balancewealth.uk/living-abroad-as-a-part-time-expat/) - Do you dream of moving overseas for a few months each year to enjoy warmer climes? Living abroad as a part-time expat is becoming an increasingly popular option for retirees or those with a more flexible work life. But there are certain factors to consider, including your state pension. We look at the rules if
- [Capital Gains Tax rules for divorcing couples are changing](https://balancewealth.uk/capital-gains-tax-rules-for-divorcing-couples-are-changing/) - Capital Gains Tax rules for divorcing couples are changing from April 2023. The aim is to make the rules fairer when it comes to the transfer of assets between a separating couple. The current rules pressure separating couples to make ‘no gain, no loss’ transfers of assets within the tax year of their separation. Which
- [How to pay for financial planning advice](https://balancewealth.uk/how-to-pay-for-financial-planning-advice/) - Have you thought about getting financial advice, but you’re unsure if you can afford it? We look at how you can pay for financial planning advice without dipping into your daily cash or breaking your budget. Once you understand the importance and value of this type of advice, you will see why it’s an essential
- [10 Ways to reduce your tax bill](https://balancewealth.uk/10-ways-to-reduce-your-tax-bill/) - Everyone has to pay taxes, but there are ways to reduce your tax bill if you know which allowances apply to you and your situation. Various tax allowances are available until the end of the financial year, which runs until 5 April. We share ten ways to make the most of tax relief and allowances
- [Unretiring: Thinking of going back to work?](https://balancewealth.uk/unretiring-thinking-of-going-back-to-work/) - Are you retired but thinking of going back to work? Unretiring is becoming increasingly common. There are lots of different reasons why some people decide to return to employment or start a business, and it's not always due to financial pressures. If you're currently considering your options, we look at some pros and cons of
- [Protection: The value of buying peace of mind](https://balancewealth.uk/protection-the-value-of-buying-peace-of-mind/) - Most people focus on savings, pensions, and investments when it comes to their financial planning, and protection can sometimes be overlooked. But what is the real value of buying peace of mind? Put simply; it will provide your family with an important level of financial security. Let’s look at the types of protection available and
- [Business Relief: missing Will clause](https://balancewealth.uk/business-relief-missing-will-clause/) - When it comes to inheritance planning, many people are unaware there’s a missing Will clause in relation to business relief. We share some facts and a simple guide to help business owners and shareholders understand business relief and inheritance tax. What is Business Relief? Business Relief is a powerful tool that can help business owners
- [Autumn Statement 2022: What it means for you](https://balancewealth.uk/autumn-statement-2022-what-it-means-for-you/) - Finally, today the government announced the long-awaited Autumn Statement 2022, but as expected, Jeremy Hunt has had to make significant changes to tax and spending to address the current cost-of-living crisis and rebuild the economy. Speaking to those in the House of Commons, the chancellor of the exchequer stated their 3 priorities were “stability, growth
- [How to plan a trip of a lifetime in retirement](https://balancewealth.uk/how-to-plan-a-trip-of-a-lifetime-in-retirement/) - Most of us are already missing those bright, sunny days of this year’s hot and balmy summer, and some are already making holiday plans for next year. But are you one of many who are planning a trip of a lifetime for your retirement? We share some bucket-list destinations and useful planning tips to help
- [What we can learn from the Queen in financial planning](https://balancewealth.uk/what-we-can-learn-from-the-queen-in-financial-planning/) - Despite her age, the recent death of Queen Elizabeth II came as a shock to many people. Throughout her life, Her Majesty was committed to leading a good example in many different aspects. But what can we learn from the Queen when it comes to financial planning? "I cannot lead you into battle. I do
- [Financial gifts: give something different this Christmas](https://balancewealth.uk/financial-gifts-give-something-different-this-christmas/) - Whether it's older generations or younger family members, receiving financial gifts can be handy, especially during tough economic times. So, why not give something a little different this year? As it's Talk Money week from 7th November, why not start a conversation within your family about money and your financial plans? But, first, let's take
- [Receiving an inheritance at different ages](https://balancewealth.uk/receiving-an-inheritance-at-different-ages/) - According to a report in Your Mortgage, 11.6 million people in the UK have received an inheritance in the last 10 years. Whether it’s expected or not, receiving an inheritance at different ages is always going to be a strange experience with mixed emotions. Depending on your relationship with the deceased, you might feel sad about
- [Boost your wellbeing this Autumn](https://balancewealth.uk/boost-your-wellbeing-this-autumn/) - When the clocks change and the days get darker and colder, our motivation levels tend to drop. So, how can you boost your wellbeing this autumn? While our focus is on the financial wellbeing of our clients, we believe that you should also invest in looking after your physical and mental health. So, as we
- [How to prepare for difficult moments](https://balancewealth.uk/how-to-prepare-for-difficult-moments/) - Asides from the current cost-of-living crisis, life tends to bring different problems, which could also affect our finances, such as the loss of a loved one through death or divorce. So let’s go through some practical questions so that you can prepare for any difficult moments and events. Do you know how to access all
- [The chancellor’s latest statement](https://balancewealth.uk/the-chancellors-latest-statement/) - Following Kwasi Kwarteng's 'growth' plan, the UK economy did anything but. In a bid to calm the economy and markets down, he brought forward the budget and economic update to 31st October; however, he has since left the cabinet. The new Chancellor, Jeremy Hunt, has wasted no time since his appointment last week and has
- [Mini-Budget September 2022](https://balancewealth.uk/mini-budget-september-2022/) - After the UK had been crying out for help, on 23rd September 2022, the new chancellor Kwasi Kwarteng said that "help is indeed coming" in the mini-budget announced in the commons. With the biggest tax cut since 1972, we take a deeper dive into the (not-so-mini) budget announcement and the key areas which may ease
- [Is it better to invest in property or a pension?](https://balancewealth.uk/is-it-better-to-invest-in-property-or-pension/) - If you are in a position to invest some money, you might be thinking about whether it's better to invest in property or a pension. The answer is: it depends on your personal situation. We compare these different investment forms so that you can make a more informed choice. Property boom or bust? The property
- [6 Common myths about financial planning](https://balancewealth.uk/6-common-myths-about-financial-planning/) - There’s a lot of misinformation about personal finance and unhelpful, random advice that people think is the right course of action. So, we thought we would dispel some common myths about financial planning to give you a more accurate view to help you make decisions. Myth 1: I’m not rich enough for financial planning advice
- [Fixed fees for financial planning](https://balancewealth.uk/fixed-fees-for-financial-planning/) - How do fixed fees for financial planning work? Unlike many financial advisers, we do not charge a percentage of your wealth. We don't believe it's fair to charge someone ten times more for £1,000,000 invested than someone who's invested £100,000 for a very similar service. As financial planners, we're very transparent about how we operate
- [Protecting your digital legacy](https://balancewealth.uk/protecting-your-digital-legacy/) - When you lose a loved one, you and your family may either want or need to access their digital accounts. Of course, protecting your digital legacy is important for financial purposes, such as accessing a bank account. But this also applies to social media and your digital assets too. You may want loved ones to
- [10 Ideas for retirement plans](https://balancewealth.uk/10-ideas-for-retirement-plans/) - Whether you're about to retire, semi-retire, or simply looking ahead, people often have very different ideas when it comes to their retirement plans. Some people prefer to travel, while others prefer to stay local. Nowadays, it's also increasingly common for people to start a brand-new business venture once they retire. For some inspiration, we look
- [5 Common questions for financial advisers](https://balancewealth.uk/5-common-questions-for-financial-advisers/) - In general, most people find financial matters a little complicated. Many also forget to factor in the impact of certain life events that could affect their future plans. Let’s look at five common questions for financial advisers that people tend to ask, along with the importance of financial planning. When can I afford to retire?
- [Protecting savings in the cost of living crisis](https://balancewealth.uk/protecting-your-savings-in-the-cost-of-living-crisis/) - Protecting savings in the current cost-of-living crisis is starting to impact those who’ve never had to think about their daily spending before. Many people are having to dip into their savings to pay bills and support their lifestyles. So, what can you do to protect your money? “A third of consumers with savings are using
- [Buying an electric car or EV](https://balancewealth.uk/buying-an-electric-car-or-ev/) - Buying an electric car, or EVs as they're known, could save you money in the long run and reduce your carbon footprint. Every day in the UK, we see big improvements to the infrastructure needed to support EVs, including the installation of new charging points. So let's take a look at what you need to
- [Have you been underpaid your State Pension?](https://balancewealth.uk/have-you-been-underpaid-your-state-pension/) - It's thought that 237,000 women are likely to have been underpaid their state pension at an estimated average of £8,900. The Department for Work and Pensions (DWP) is currently reviewing pension records to find all those affected. We look at why this has happened and whether you or a family member might be eligible to
- [Eco-friendly homes: cut costs on energy bills](https://balancewealth.uk/eco-friendly-homes-cut-costs-on-energy-bills/) - It's no surprise that certain eco-friendly home improvements can help you cut costs on energy bills. But where’s a good place to start, and what energy-efficient modifications make a big difference? We look at some facts and stats from the Energy Saving Trust and other studies to see the benefits of saving carbon and making
- [The difference between life planning and financial planning?](https://balancewealth.uk/the-difference-between-life-planning-and-financial-planning/) - There are common misconceptions when it comes to making a life plan or a financial plan. So, what’s the difference between life planning and financial planning? One can help to inform the other, but very few financial planners or advisers have accreditations in both areas. Our team is trained with the globally recognised Kinder Institute
- [Have you paid too much tax on your pension?](https://balancewealth.uk/have-you-paid-too-much-tax-on-your-pension/) - At the end of 2021, HMRC refunded over £42m in tax overpayments to those drawing down from their pensions. So if you have recently taken money out, it's worth checking whether you have paid too much tax on your pension. We look at how withdrawals are taxed, what you need to do, and which forms
- [Funding a narrowboat lifestyle](https://balancewealth.uk/funding-a-narrowboat-lifestyle/) - Living on a canal boat is a fast-growing trend in the UK. Many people dream of gliding along our nation’s waterways, enjoying a nomadic existence, and being close to nature. But funding a narrowboat lifestyle isn’t just about buying a boat. If you’re looking to retire, semi-retire or live and work on a narrowboat, there
- [The rise in the cost of living, your pension & retirement](https://balancewealth.uk/the-rise-in-the-cost-of-living-your-pension-and-retirement/) - Over the last 15 years, the UK economy has suffered a handful of significant blows; the 2007-09 financial crisis, Brexit, the pandemic and most recently, the Russia-Ukraine war. And whilst household incomes face their own shock, continuing to be squeezed with the rise in the cost of living, your pension and retirement could suffer from
- [Topping up NI for your state pension](https://balancewealth.uk/topping-up-ni-for-your-state-pension/) - The state pension forms the backbone of many people’s retirement plans. So ensuring you have enough National Insurance (NI) contributions for your full state pension entitlement is important. Since the new state pension was introduced, the Department for Work and Pensions (DWP) relaxed the rules on topping up your NI for your state pension, but
- [Leaving a gift in your Will to charity](https://balancewealth.uk/leaving-a-gift-in-your-will-to-charity/) - When you think about your legacy and what you might leave behind, does it include leaving a gift in your Will to charity? If not, there are numerous benefits. Not only will you be helping a not-for-profit organisation likely to be reliant on charitable donations, but you’ll also reduce the amount of inheritance tax (IHT)
- [Pass the pension: keeping pensions in the family](https://balancewealth.uk/pass-the-pension-keeping-pensions-in-the-family/) - When it comes to inheritance planning, one commonly misunderstood area is pensions. Passing on as much wealth as possible is a desire for many of us, but keeping pensions in the family might not be your first method of doing so. However, since the rules changed in 2015, defined contribution pensions can continue to live
- [How to manage your time through life](https://balancewealth.uk/how-to-manage-your-time-through-life/) - “Time is what we want the most, but what we use worst”, and when it comes to living our busy lives, it’s often hard to know how to manage your time through life. None of us can predict how our future lives will unfold, and many of us face different challenges at certain life stages.
- [Financial planning for blended families](https://balancewealth.uk/financial-planning-for-blended-families/) - Financial planning for blended families can be tricky for those who find themselves in this situation. When families combine, it adds an extra dimension to the family dynamic, and finances, in particular, can become blurred and difficult to differentiate. Over the years, there have been many cases in the public eye where blended celebrity families
- [A financial adviser can protect you against financial crime](https://balancewealth.uk/a-financial-adviser-can-protect-you-against-financial-crime/) - An FCA study found that over 55s were more likely to be scammed, and with over £2million in pension pots targeted by scammers in just five months last year, it’s no wonder this age group are the focus of their attacks. Whilst we might hope to spot the signs of financial crime, it’s not always
- [Critical illness at any age](https://balancewealth.uk/critical-illness-at-any-age/) - Nobody wants to think about getting a critical illness, but the impact of a diagnosis like this is undeniably life-changing. Physically, emotionally and financially straining, it's a very challenging period of life. Despite our efforts to lead healthy lifestyles, the reality is that anyone can get a critical illness at any age, and it’s not
- [Bucket list: Funding for a caravan or camper van](https://balancewealth.uk/bucket-list-funding-for-a-caravan-or-camper-van/) - Over recent years amid the uncertainty over international travel, many people have opted to stay on UK soil for their holidays. And this staycation trend has seen an unprecedented rise in the demand for motorhomes, with almost half of the drivers asked in a recent study saying they’d love to own a home on wheels.
- [From empty nest to nest egg: financial planning](https://balancewealth.uk/from-empty-nest-to-nest-egg-financial-planning/) - The emotional stress of an “empty nest” when a child leaves the family home should not be underestimated. It can be hard to start thinking about your own future and finances when you’re used to focusing solely on your child’s wellbeing. So, how can you make a healthy transition from an empty nest to building
- [How to avoid falling for a crypto scam](https://balancewealth.uk/how-to-avoid-falling-for-a-crypto-scam/) - Cryptocurrency scams are on the rise. As a result, the government is bringing in new rules to help tackle this growing problem. Financial promotions advertising crypto schemes on platforms such as social media will soon be regulated by the Financial Conduct Authority (FCA). But how do you avoid falling for a crypto scam, and what
- [Spring Statement 2022: Budget update](https://balancewealth.uk/spring-statement-2022-budget-update/) - On 23 March 2022, Chancellor Rishi Sunak announced a few significant changes in the Spring Statement. Overall, his budget update focused on taxation and building a stronger and more secure UK economy with three main points of focus: People, Ideas, and Capital. Sunak’s rhetoric responded to the cost-of-living crisis and growing concerns around rising inflation,
- [Planning for a greater tax burden](https://balancewealth.uk/planning-for-a-greater-tax-burden/) - In the recent Spring Statement, Chancellor Rishi Sunak announced “the biggest net cut to personal taxes in over 25 years”, directly responding to the cost-of-living crisis. In an attempt to relieve money pressures, Sunak will be increasing national insurance thresholds this year and reducing income tax to 19%, but this won’t come into effect until
- [Protecting your assets with a trust fund](https://balancewealth.uk/protecting-your-assets-with-a-trust-fund/) - If you’re thinking of setting up a trust fund, it’s important to understand how this will work and what it will protect. If set up correctly, a trust ensures you and your family have control over your assets and estate. But there are a lot of common misconceptions about trusts and the protection they can
- [The positive impact of an ethical pension](https://balancewealth.uk/the-positive-impact-of-an-ethical-pension/) - Nowadays, more people are choosing a responsible investment strategy. There are various ways to make a difference in matters like climate change or being more socially responsible. But did you know that as well as making conscious changes to your lifestyle, you can also do so by investing positively through your pension? We consider the
- [Investor Insights: Russia & Ukraine Conflict](https://balancewealth.uk/investor-insights-russia-ukraine-conflict/) - Ukraine’s glory hasn’t perished, nor freedom, nor will. – Ukrainian National Anthem It’s been very difficult to watch the scenes in Ukraine over the last few days, and as people remain perplexed at Putin’s attack, what has been clear is the strength and resolve of the Ukrainian people. Their bravery is beyond belief. The world
- [The true value of home improvements](https://balancewealth.uk/the-true-value-of-home-improvements/) - Over the last two years, we’ve spent much more time in our homes, and unsurprisingly there’s been a rise in making improvements to the way we live. Whether it’s due to covid or the impact of climate change, people’s personal motivations for improving their homes are changing. We can often fixate on only making home
- [What's the difference between a lifetime trust and a will trust?](https://balancewealth.uk/whats-the-difference-between-a-lifetime-trust-and-a-will-trust/) - Trusts can seem like a complex area, especially if you’re unsure of the differences between certain types of trust. Many people get confused when trying to compare a lifetime trust with a will trust. So, we decided to explore these in more detail to give you greater clarity. What's a trust? Let’s start with the
- [Are mini-retirements the new early retirement?](https://balancewealth.uk/are-mini-retirements-the-new-early-retirement/) - Whether it’s as a result of the pandemic or a general move towards more flexible living, mini-retirements are becoming a new goal for many people. Instead of focusing on an early retirement strategy, taking time out to enjoy meaningful breaks is more popular than ever. It’s a chance to press pause on everyday life, to
- [Cost of living crisis: financial challenges ahead](https://balancewealth.uk/cost-of-living-crisis-financial-challenges-ahead/) - This week it was announced that energy bills would increase by 54% a year for millions of people in the UK due to rising global energy prices. Combined with the recent rise in interest rates to 0.5%, a looming national insurance hike, and rising food bills, the UK is now facing a cost of living
- [Rising inflation: what does it mean for your money?](https://balancewealth.uk/rising-inflation-what-does-it-mean-for-your-money/) - Rising inflation is a cause for concern for some, but there are opportunities if you know where to look. But what does it mean for your money and finances, and should you be worried about this recent increase? At the end of 2021, the inflation rate rose to 5%, and it looks set to hit
- [How to avoid underliving & overspending](https://balancewealth.uk/how-to-avoid-underliving-overspending/) - Trying to avoid underliving and overspending has become a fine balancing act for many nowadays. With the rising cost of goods, energy and taxes, even the most stable cash flow might be taking a bit of a knock. And if you’re someone who likes to plan ahead, it can be all too easy to only
- [Cash flow vs. financial planning](https://balancewealth.uk/cash-flow-vs-financial-planning/) - Maintaining a steady cash flow, along with careful financial planning, will help to give you clarity at different stages of your life. This can be especially useful during transitional phases such as starting a new job, selling a business, moving to a new home or preparing to retire. Life has a habit of throwing us
- [Silver splitters: Divorce in later life](https://balancewealth.uk/silver-splitters-divorce-in-later-life/) - If you’ve not heard the term “silver splitters”, this refers to people aged over 50 who divorce in later life. But did you know that the number of couples divorcing in this age group is on the rise? With Divorce Day, the first working Monday of January, fast approaching year on year, solicitors report1 receiving
- [2021 review from Balance Wealth Planning](https://balancewealth.uk/2021-review-from-balance-wealth-planning/) - 2021 has been another ‘interesting’ year, with more highs and lows. But before setting our sights on any goals for 2022, now is the perfect time to look back and reflect on the past year, letting go of any stresses or worries beyond our control for the future. In an attempt to leave 2021 on
- [An important update on the Trust Registration Service](https://balancewealth.uk/an-important-update-on-the-trust-registration-service/) - ‘Put not your trust in money, put your money in trust’, Oliver Wendell Holmes, Sr. once said, but is this still the case with the introduction of the HMRC Trust Registration Service? Trusts can be complicated and time-consuming at the best of times, so if you have money or assets placed in a trust, or
- [The PLSA’s retirement living standards updated](https://balancewealth.uk/the-plsas-retirement-living-standards-updated/) - The Pensions and Lifetime Savings Association (PLSA) has set out the retirement living standards to help people visualise how much they need to save for their expected lifestyle in retirement. Since they came into existence in 2019, there’s been a pandemic, which of course, flipped the world upside down. And so, our friends at the
- [Is buy-to-let investing still a good idea?](https://balancewealth.uk/is-buy-to-let-investing-still-a-good-idea/) - Over 20 years, the average UK house price has outpaced inflation by around 3% a year. And in some regions, it will be much higher. Little wonder, then, that so many are drawn to buy-to-let investing. That is attractive capital growth before you even consider rental income. Historically, many investors saw property as an easy
- [Investing in the future of your child](https://balancewealth.uk/investing-in-the-future-of-your-child/) - Parenting is a lifelong commitment, filled with joy, worries, and sometimes sacrifice. Even though financially, children are expensive, what with the after-school activities, the copious amounts of toys bought at this time of year, as well as investing in the future, we wouldn’t have it any other way. And they are worth every penny. Increasingly
- [Winning the state pension lottery](https://balancewealth.uk/winning-the-state-pension-lottery/) - We like to call it the National Insurance (NI) state pension lottery. Not everyone’s a winner, but those who are, scoop the chance to buy the best pensions bargain around. To benefit, it helps to understand some basic principles. Most of us must pay ten qualifying years worth of NI contributions to get a state
- [7 things in Nottingham & Derby to get you into the festive spirit](https://balancewealth.uk/7-things-in-nottingham-derby-to-get-you-into-the-festive-spirit/) - Do you hear the sleigh bells jingling? We bit our tongue for as long as possible, but there’s no denying it any longer; Christmas is almost here, and as the nights draw in, so is the festive season. Last year Christmas was cancelled to a degree, although we made the best of it, so we’ve
- [What happens to my pension when I die?](https://balancewealth.uk/what-happens-to-my-pension-when-i-die/) - We save into our pension pots throughout our working lives, hoping for a comfortable and fulfilled retirement. Your pension is your nest egg, a means of paying the bills and enjoying your third age when you finally stop work. But, have you ever wondered ‘what happens to my pension when I die’? We’ve touched on
- [Why choose a Chartered Financial Planning firm?](https://balancewealth.uk/why-choose-a-chartered-financial-planning-firm/) - Although money is a big part of our everyday lives, taking the time to speak to a professional about it isn’t always a top priority. But whether you’re planning for retirement, selling a business or just wanting a sense check on your finances, financial planning can be an invaluable investment of your time. One of
- [Financial planning fundamentals: Lasting power of attorney and wills](https://balancewealth.uk/financial-planning-fundamentals-lasting-power-of-attorney-and-wills/) - Your financial plan is a roadmap for your life that helps you prioritise what is most important to you, make financial decisions with these priorities in mind and bring you closer to the life you want. And having a written will and a lasting power of attorney (LPA) is a fundamental part of any financial plan. The
- [The pros and cons of transferring out of a Defined Benefit pension scheme](https://balancewealth.uk/the-pros-and-cons-of-transferring-out-of-a-defined-benefit-pension-scheme/) - Many retirees are choosing to shun guaranteed pension incomes, including transferring out of Defined Benefit (DB) schemes. It’s a difficult decision to make and assessing the pros and cons is crucial. More often than not, deciding to remain in a DB scheme is the most appropriate option, but it’s rarely a clear-cut decision. With the
- [Autumn Budget breakdown 2021](https://balancewealth.uk/autumn-budget-breakdown-2021/) - On 27th October, Rishi Sunak delivered the latest budget announcement. After a relatively uneventful delayed Autumn 2020 budget in March, where they introduced the three-point plan to rebalance the books after the pandemic, it seemed like we were in store for a swathe of changes this autumn to boost economic recovery further. We already knew
- [Wealth gap year](https://balancewealth.uk/wealth-gap-year/) - The disruption caused by the recent pandemic was phenomenal, sending shockwaves worldwide. And we are all still feeling the aftereffects now. In March 2020, the future became even less predictable. But 18 months on, we look at UK wealth and the wealth gap that continues to grow. Across the board, people took a knock to
- [Use it or lose it: tax allowances](https://balancewealth.uk/use-it-or-lose-it-tax-allowances/) - We’re not yet nearing the end of the tax year quite yet, but we are just over halfway there, and it’s always best to prepare. Life has picked up its pace again, and the months are zooming on by, but are you making sure to use up your tax allowances while you still have plenty
- [The future of financial planning](https://balancewealth.uk/the-future-of-financial-planning/) - For a long time, financial advice was quite an impersonal service with minimal collaboration between the client and adviser. Then financial planning advice came along, and we started viewing personal finances through a different lens. Shifting from a transactional exchange to more human-centric planning, the evolution of financial planning advice has accelerated even further recently, with the
- [Is the gender pension gap widening?](https://balancewealth.uk/is-the-gender-pension-gap-widening/) - It’s been over 50 years since it became illegal to pay women less than men, yet women in their twenties today are likely to retire with £100,000 less than men the same age. So if you thought the gender pay gap was a problem, the gender pension gap is twice as big. Here we are,
- [The new normal, but better than before](https://balancewealth.uk/the-new-normal-but-better-than-before/) - Society has reopened its gates, although still somewhat guarded. And as the UK workforce gradually returns to their previous place of work, between hybrid working, video calls and regular testing, the ‘new normal’ looks a little different, but, dare we say it, better than before. After taking stock and reorganising priorities, there’s been a noticeable
- [Taking care of care fees](https://balancewealth.uk/taking-care-of-care-fees/) - With almost 500,000 people living in care homes in the UK in 2020, and an ever-increasing ageing population, taking care of care fees might be one of life’s biggest financial obstacles we have to face. Due to social, economic, and medical advances, life expectancy in the UK has increased significantly, with no signs of slowing
- [The key to happiness in retirement](https://balancewealth.uk/the-key-to-happiness-in-retirement/) - When it comes to preparing for retirement, most people believe it’s all a numbers game. But that’s only half the story; to have a long and fulfilling retirement takes more than just money and the key to happiness in retirement lies within things that money can’t buy. Whether you know what’s in your pension pots
- [A complete guide to the different types of pension schemes](https://balancewealth.uk/a-complete-guide-to-the-different-types-of-pension-schemes/) - Pension schemes, not often a hot topic at a dinner party, they’ve had a bad rap over the years, and rightly so, with their over-complicated rules and lack of flexibility. But, it’s time to let go of that stigma and realise the benefits your pensions can bring. Whatever stage of retirement planning you are at,
- [Is it time for a financial health check midlife MOT?](https://balancewealth.uk/is-it-time-for-a-financial-health-check-midlife-mot/) - Each year, it’s a legal requirement to take your car for an MOT, and if you drive, you’ll know all too well about the fun that can come with it. Although sometimes painful to go through, it’s a prompt to make sure your car stays on the road and gets you safely from A to
- [Potentially Exempt Transfers: Everything you need to know about gifts](https://balancewealth.uk/potentially-exempt-transfers-everything-you-need-to-know-about-gifts/) - As the average inheritance tax (IHT) bill is now more than £200,000, and rumours continue about the government raising this tax in a bid to recoup some of the debt caused by the pandemic, it may be time to start thinking about your estate and making Potentially Exempt Transfers or gifts. According to a new
- [How does money affect your emotions?](https://balancewealth.uk/how-does-money-affect-your-emotions/) - Money is a funny old thing. As we move towards a cashless society, it’s not always something physical, yet it holds a lot of weight when it comes to our emotions. It’s a tool to help us get to where we want to be in life, giving us meaningful experiences with the people we love.
- [The great resignation of 2021](https://balancewealth.uk/the-great-resignation-of-2021/) - The pandemic has brought about many changes, especially to the way we work. Many workforces had to down tools and bring about a new way of working. But since March 2020, droves of employees are leaving employment or changing careers, which is now becoming known as the great resignation of 2021. Most people around the
- [Are we in a property bubble?](https://balancewealth.uk/are-we-in-a-property-bubble/) - Due to a build-up in demand and the stamp duty holiday, the housing market is thriving. Properties are going for over asking price, and by a considerable amount in some cases. And, as the stamp duty holiday deadline passes, it’s got many wondering if we are in a property bubble that’s about to burst? House
- [What we do and how we charge](https://balancewealth.uk/what-we-do-and-how-we-charge/) - When it comes to financial planning, the most common questions people have are ‘what is financial planning?’ and ‘what does financial planning cost?’. So, here we’ll explain what we do as financial planners and how we charge fixed fees for the financial planning we provide. You’ve probably heard the terms financial advice and financial planning, assuming
- [10 hidden gems in Nottingham and Derby 2.0](https://balancewealth.uk/10-hidden-gems-in-nottingham-and-derby-2-0/) - With the summer holidays just around the corner and most of the UK’s covid restrictions to be reduced on 19th July, we thought it would be a good time to share our second instalment of the hidden gems in Nottingham and Derby. And, now almost a year has passed, we’ve found even more things to do
- [Your questions answered - Ethical investing: Doing more with your money](https://balancewealth.uk/your-questions-answered-ethical-investing-doing-more-with-your-money/) - During our recent ethical investing webinar, we had some brilliant questions, so we thought we would share some of the highlights to help demystify ethical investing. The host of this session was our financial planner, Krupesh Kotecha, who has a vast wealth of knowledge surrounding ethical investing. Krupesh is part of our investment research team
- [Experiences vs memories](https://balancewealth.uk/experiences-vs-memories/) - In life, we experience things all the time, yet not all experiences become memories. We can share a common experience with another person, but our memory of the event can be very different. But why is this? The riddle of experiences vs memories comes from Nobel Prize winner and behavioural economics founder Daniel Kahneman. Kahneman
- [The history of West Bridgford](https://balancewealth.uk/the-history-of-west-bridgford/) - Nestled just south of the River Trent and a couple of miles away from Nottingham city centre, West Bridgford is a historic market town situated within the Borough of Rushcliffe. And most importantly, home to Balance: Wealth Planning! With strong links to sport, beautiful parks, not to mention the great community spirit, West Bridgford has
- [5 top tips to prepare your business for sale](https://balancewealth.uk/5-top-tips-to-prepare-your-business-for-sale/) - As a business owner, you’ll be used to making important decisions, but none more so than deciding to sell your business. After investing lots of time, money and energy into nurturing and growing your business, ensuring it’s ready for sale is pivotal to its success. When you come to this crossroad, to make sure you
- [10 wealth planning mistakes that could cost you](https://balancewealth.uk/10-wealth-planning-mistakes-that-could-cost-you/) - Mistakes are a fact of life, but it’s fair to say that some hurt more than others. None more so than those to do with money; when it comes to planning your wealth, it’s those mistakes that could cost you the most. As Eleanor Roosevelt once said, “Learn from the mistakes of others. You can’t
- [10 hidden gems in Nottingham and Derby](https://balancewealth.uk/10-hidden-gems-in-nottingham-and-derby/) - As many of you will already know, we mostly offer our services across Nottingham and Derby. But, when you’re working or living in a particular area or city, it’s easy to miss the hidden gems of a place. So, whether you’re enjoying a holiday at home this year, or you have a free weekend and
- [Six top tips for achieving wellness](https://balancewealth.uk/six-top-tips-for-achieving-wellness/) - Let’s talk about wellness. We hear the term bandied about a lot, but how do we go about achieving it? It’s often the small changes which make a big difference, and they filter down throughout all aspects of life. To lead a fulfilled life, you need to invest time in you, and what better point
- [Your questions answered: Getting child benefit if your income is between £50,000-£60,000](https://balancewealth.uk/your-questions-answered-getting-child-benefit-if-your-income-is-between-50000-60000/) - If you have children to look after and your total income is above £50,000, then you're probably missing out on valuable child benefit. But, with the right financial planning, and if you have the money to do so, you can actually reduce your taxable income to under £50,000 by making pension contributions. Here's our MD,
- [Won the Lottery? What happens next…](https://balancewealth.uk/won-the-lottery-what-happens-next/) - Most of us will never experience winning the lottery, but if you are lucky enough to see your ticket hit the jackpot, what do you do next? Even if you haven’t won the lottery, you could find yourself inheriting a small fortune. Acquiring unexpected wealth brings with it a range of different considerations, as well
- [The top 3 tips when selling your business](https://balancewealth.uk/the-top-3-tips-when-selling-your-business/) - If you’re thinking of selling your business, then you will know that it is not often an easy decision. The difference between what your heart and head tell you can often cloud your decision making. Just like running your business, selling it requires you to wear many different hats and spin a few plates. There
- [Selling a business: Your exit strategy](https://balancewealth.uk/selling-a-business-your-exit-strategy/) - If you’re an entrepreneur, then you’ll have to think about selling your business at some point. However, this doesn’t happen overnight; you plan your exit strategy well in advance. Taking a step back from your business is no easy feat. But, to make this transition as smooth as possible, it’s crucial to carefully plan for
- [What’s the difference between values-based, ethical and sustainable investing?](https://balancewealth.uk/what-is-values-based-investing/) - So, what’s the difference between values-based, ethical and sustainable investing? This is our first in a series of blog posts in which we will cover all things related to the rising trend. There’s a ton of different terms used in relation to the topic. These terms are often interchangeable and can also mean different things to different people, making it
- [How to reflect your values through your investments](https://balancewealth.uk/how-to-reflect-your-values-through-your-investments/) - Now, back to our series on values-based investing…we’ve explored what the United Nation’s Sustainable Development Goals are, why values-based investing is so important and who it’s for but now we want to talk about YOU. Are you wanting to reflect your values through your investments? Maybe the nonsensical jargon is putting you off? We aim
- [A – Z Guide to Investments – Part 2](https://balancewealth.uk/a-z-guide-to-investments-part-2/) - Earlier this week, we posted the first part of our A – Z guide to investments. We continue to wade through the industry jargon, explaining common phrases to help you gain a better understanding of investment terminology. Our guide continues below, beginning with the letter M… M is for Market Crash A Market Crash happens
- [Investment lessons: What have the events of 2020 taught us?](https://balancewealth.uk/investment-lessons-what-have-the-events-of-2020-taught-us/) - If the events of 2020 have taught people anything, it’s that you cannot predict the future. Uncertainty in the economy has an impact on investment markets, so it’s important to ensure you build an investment portfolio robust enough to weather the storms. To help you on this quest, we’ll be looking back at the events
- [Property - Top Tips for Effective Estate Planning](https://balancewealth.uk/property-top-tips-for-effective-estate-planning/) - How recently has your property been valued? Do you know how your home will affect your inheritance tax liabilities? There’s been a lot of talk recently in the news in relation to trusts, care home fees and of course probate fees. A huge increase to probate fees was controversially introduced and then swiftly withdrawn, but
- [Wills](https://balancewealth.uk/wills/) - 10 Things to Consider When Writing Your Will If there’s one thing that’s guaranteed never to come up in conversation on a night out with friends, it’s what you’ve put in your Will. Not only is death a subject we’re not too keen on discussing as a culture, but another big taboo is also wealth.
- [What should you do with your Inheritance?](https://balancewealth.uk/what-should-you-do-with-your-inheritance/) - If you are about to inherit money, property or possessions, you may find yourself conflicted with mixed emotions. You’re likely to be grieving, which is a very difficult time for most people. Despite your bereavement, you may have the opportunity to pay off debts or create a level of financial security for you and your
- [Wills: The Role of an Executor & Trustees](https://balancewealth.uk/wills-the-role-of-an-executor-trustees/) - Writing or updating your Will can be a complex matter, especially as there are certain roles and responsibilities that you will need to give to specific people. Not only do you need to name the people you wish to inherit from you, known as “beneficiaries”, but you will also need to name an Executor, Trustees,
- [Eight reasons you should have a will in place](https://balancewealth.uk/eight-reasons-you-should-have-a-will-in-place/) - Are you one of the 53% of people that don’t have a will? It could mean your final wishes aren’t carried out and cause stress for your loved ones. More than half of British adults don’t have a will, according to a survey from Will Aid. The vital piece of paperwork sets out what you
- [Inheritance tax - 10 essential financial planning steps](https://balancewealth.uk/inheritance-tax-10-essential-financial-planning-steps/) - One of the questions we hear all the time as part of our financial planning discussions is "How do I reduce the Inheritance Tax that will be due when I die?" It's really valuable for us to unpick that question to understand exactly what our client's motivation for asking that question might be. Most commonly,
- [Passing on wealth is about more than just inheritance](https://balancewealth.uk/passing-on-wealth-is-about-more-than-just-inheritance/) - When you think about what you want to happen to your wealth once you pass away, you probably imagine it helping to improve the financial security of your children and grandchildren. Whether you’ve already made a will outlining your wishes or are just beginning to think about what you want to happen, passing on wealth
- [Effective estate planning to minimise inheritance tax](https://balancewealth.uk/effective-estate-planning-to-minimise-inheritance-tax/) - In the year 2018-19, Britons paid a record amount of inheritance tax (IHT) to HMRC, totalling £5.4bn. But why has so much tax been paid? It is partly because the decade freeze to the nil-rate band - the total value of your estate that can be inherited tax-free. But, it is also because it’s quite
- [The Celebrity Guide to Retirement Planning](https://balancewealth.uk/the-celebrity-guide-to-retirement-planning/) - Growing older in the 21st Century has seen a vast number of options opening up for pensioners. Whether you’re planning to rest up, sail a yacht or even climb a mountain – they say that 60 is now the new 40 – the world is your oyster. Some people choose to carry on working after
- [Planning to Retire? 3 Useful Points to Consider…](https://balancewealth.uk/planning-to-retire-3-useful-points-to-consider/) - When it comes to planning for your retirement, everyone is different. We all have individual dreams and goals – therefore, a retirement plan for you will differ from somebody else. Ultimately, you need to tailor your retirement plan to how you wish to live your life as you grow older. We have written various articles
- [How to Avoid and Spot Pension Scams](https://balancewealth.uk/how-to-avoid-and-spot-pension-scams/) - Pension scams have hit the headlines again this week. In recent years, “pension freedoms” have enabled more and more people to get caught up with suspect ‘investments’, where bogus companies persuade you to part with your pension pots. Even for people under the age of 55, many are enticed into scams where the intention is
- [5 Important Things to Consider Before You Retire](https://balancewealth.uk/5-important-things-to-consider-before-you-retire/) - With more options than ever before, retirement is becoming an ever more complex area. There are so many questions you need to ask yourself before you reach retirement age, including how much income you will need and deciding what you want to do in your later years. So, this week, we have pulled together a
- [When I retire, what will I do?](https://balancewealth.uk/when-i-retire-what-will-i-do/) - This is the question on many people’s minds – what should you do when you retire? Some of you may have firm plans in mind – for example, you know where you’re going to live, what you’re going to do and how you will spend your days. However, many people reach retirement without having any
- [Keep pensions simple to help people save](https://balancewealth.uk/keep-pensions-simple-to-help-people-save/) - Pension schemes can seem like a minefield to most people. We believe that pensions should be kept as simple as possible and this includes the way that people are being encouraged to save. In 2015, the Treasury published a paper looking at ways to encourage people to save more into their pensions. The former Chancellor,
- [Could pension tax relief move to flat rate and the lifetime allowance be scrapped?](https://balancewealth.uk/pension-tax-relief-lifetime-allowance-scrapped/) - A recent Treasury report looking at household savings has sparked calls from MPs to introduce a flat-rate pension tax relief and scrap the pension lifetime allowance as well as a number of other measures. This is a complex issue with potential ramifications for pensions, as many people are struggling to plan successfully for their retirement.
- [10 big ideas for your retirement](https://balancewealth.uk/10-big-ideas-for-your-retirement/) - Retirement can be one of the most enjoyable phases in a person’s life. It should be a time when you know what you want to do, and best of all, you’ve got the time to do it. However, when you stop work, it can leave you feeling a little isolated or lacking a sense of
- [Budget 2017 – what’s expected in the Spring Statement](https://balancewealth.uk/budget-2017-whats-expected-in-the-spring-statement/) - On Wednesday 8 March, Chancellor Phillip Hammond will be announcing details of the Spring Budget. So, what can we expect this time around? With a lot of talk around the self-employed, making tax digital and the costs of social care, we have pulled together an outline summary of what’s expected below. Economic growth Economists at
- [Budget recap - Now the dust has settled, what's the impact of the 2017 budget?](https://balancewealth.uk/budget-recap-now-the-dust-has-settled-whats-the-impact-of-the-2017-budget/) - National Insurance contributions for the self-employed – the big u-turn The biggest hoo-ha has been over the proposal to increase National Insurance contributions for the self-employed. Although Chancellor Philip Hammond announced on budget day that he would be increasing the main rate of Class 4 National Insurance contributions to 10% now and to 11% in
- [General Election announced – how will this affect investors?](https://balancewealth.uk/general-election-announced-how-will-this-affect-investors/) - On Tuesday 18th April, Prime Minister Theresa May announced there will be a snap general election on 8 June 2017. The reasons behind this decision include wanting stability, strong leadership and a sense of certainty, as the UK leaves the EU. The PM’s controversial announcement has been met with great debate and some opposition, but
- [Financial Roundup of 2017 & Looking Ahead](https://balancewealth.uk/financial-roundup-of-2017-looking-ahead/) - 2017 has been an interesting year in terms of both politics and economics. Following the Autumn Statement (for a summary, please read our recent blog), there could be some changes that may affect you in the next financial year. This includes changes to stamp duty and fuel duties, and a slight increase in tax rates
- [Tax, tax, tax! Latest updates…](https://balancewealth.uk/tax-tax-tax-latest-updates/) - With the Self Assessment tax deadline looming, and the end of the financial year on the horizon, it’s time to consider your tax liabilities. If you’re running a successful business, you should already be prepared for your tax bill. However, tax can be a very complex matter, especially if you own a portfolio of businesses
- [Spring Statement 2018: how are you affected?](https://balancewealth.uk/spring-statement-2018-how-are-you-affected/) - Last Tuesday, 13 March, Chancellor Phillip Hammond delivered his 2018 Spring Statement. Although he’s described as “positively Tigger-like”, many economists are not feeling quite so upbeat by Hammond’s recent announcements. Overall, the news was focused on household finances with respect to higher wages and lower unemployment rates. We have put together a summary of the
- [Autumn Budget 2018: Were you a winner or a loser?](https://balancewealth.uk/autumn-budget-2018-were-you-a-winner-or-a-loser/) - Will you be better or worse off because of today’s Budget? In a relatively quiet Budget our summary answers that question, please read on to find out. Winners Earners The Chancellor brought forward an election pledge to increase both the Personal Allowance and Higher Rate tax band, affecting 32 million people. From April 2019, the
- [Brexit: What it means for your finances](https://balancewealth.uk/brexit-what-it-means-for-your-finances/) - For such a long time Brexit filled the news, but this now seems like such a distant memory. At the time, we were all pretty tired of hearing about it, and yet, even after leaving the EU on 31st January, we’re still not sure what impact Brexit will have on us in the future. It’s
- [To Brexit or not to Brexit? That is the question](https://balancewealth.uk/to-brexit-or-not-to-brexit-that-is-the-question/) - Only days away from the date Brexit negotiations were expected to come to an end, today’s news has confirmed there will be yet another extension. This has left many people wondering if the current PM will ever manage to ‘get Brexit done’. It’s been difficult to keep up with the Brexit debacle, with many of
- [The UK Retirement Living Standards](https://balancewealth.uk/the-new-uk-retirement-living-standards/) - On 17th October 2019, the Pensions and Lifetime Savings Association (PLSA) published the new UK Retirement Living Standards, aiming to help people visualise their future retirement and understand what it might cost. The PLSA is calling on the pensions industry to adopt these standards by 2025, to help individuals better engage with their retirement saving.
- [The gender gap](https://balancewealth.uk/the-gender-gap/) - With it being International Women’s Day this Sunday, we decided to revisit the very topical gender inequality issue, specifically looking at the gender advice gap. Tina Winter spoke recently about the gender pensions gap, highlighting that the difference between men and women’s pay doesn’t just impact women during their working life, but also in retirement.
- [Budget 2020: What does it mean for you?](https://balancewealth.uk/budget-2020-what-does-it-mean-for-you/) - On Wednesday 11th March 2020, the newly appointed chancellor, Rishi Sunak, stood up to deliver the first Budget of Boris Johnson’s majority government. As expected, the first issue addressed by the chancellor was Coronavirus. Mr Sunak said that the government is doing everything necessary to keep the UK financially secure. Although there is likely to
- [Budget 2021: What does it mean for you?](https://balancewealth.uk/budget-2021-what-does-it-mean-for-you/) - On Wednesday 3rd March, Chancellor Rishi Sunak delivered the Budget in Parliament, following a year of extraordinary economic challenge because of the ongoing COVID-19 pandemic. We’ve heard a lot from Mr Sunak throughout the last year as he introduced various financial support packages for individuals and businesses across the UK. And the theme for this
- [Preparing for your next Tax Return - are you ready?](https://balancewealth.uk/preparing-for-your-next-tax-return-are-you-ready/) - How close to the line did you leave your tax return this year? A few minutes before midnight on 31st January? Or did you file it months ago? Either way, it’s been taken care of for another year. So, are you going to do the same thing next year or get yourself a bit more
- [Children’s savings: Investing for their future](https://balancewealth.uk/childrens-savings-investing-for-their-future/) - How do you choose a suitable savings strategy for your children or grandchildren? You may want to save for their future education or towards a deposit to help them eventually get onto the property ladder. You might have already started paying into a Junior ISA or Help to Buy ISA for them – but how
- [Practical Wealth Management for Business Owners](https://balancewealth.uk/practical-wealth-management-for-business-owners/) - When your business starts to flourish financially, many directors and partners are faced with a fresh set of challenges. What are some of the financial planning considerations that apply to business owners? We’ve outlined a few ‘best practices’ for business owners to consider when it comes to taking money out of their business and minimising
- [5 Ways to Spring-Clean Your Finances](https://balancewealth.uk/5-ways-to-spring-clean-your-finances/) - With only a few weeks to go until the end of the financial year, how are your finances shaping up? Did you manage to put any measures in place after our financial checklist at the start of the year? If you feel like you’re drowning in paperwork and your personal finance to-do list is getting
- [Goal setting – achieving what you want from life](https://balancewealth.uk/goal-setting-achieving-what-you-want-from-life/) - There’s a lot of talk these days around ‘goal setting’, but what does this really mean from a personal perspective? Setting achievable goals doesn’t just apply to business – having clear objectives on what you would like to get out of life and how to plan your future are just as relevant as commercial goals.
- [Save those pennies! Helpful tips for your savings strategy](https://balancewealth.uk/save-those-pennies-helpful-tips-for-your-savings-strategy/) - If you’re starting to feel that you’ve spent too much this summer, it’s probably a good time to take a look at your savings strategy. However, with so many savings options available, where do you start? This week, we give you the lowdown on various ways you can save – read on… “The way to
- [Setting Achievable Business Goals](https://balancewealth.uk/setting-achievable-business-goals/) - If you’re a business owner or leader, no doubt you will now be back in the swing of things business-wise. September can be a good time to assess where you are with your business and to set goals for the rest of the financial year and for the future. Earlier this year, we wrote an
- [Top 10 Fun Ways to Spend Your Money](https://balancewealth.uk/top-10-fun-ways-to-spend-your-money/) - You’ve worked hard to acquire your wealth, so have you thought about how you could spend your money? In this article, we look at some fun and interesting purchases to help you enjoy the finer things in life… “Whoever said money can’t buy happiness simply didn’t know where to go shopping.” Bo Derek 1. Classic
- [The Impact of Unexpected Life Changes](https://balancewealth.uk/the-impact-of-unexpected-life-changes/) - What if the worst does happen? We all try to avoid thinking about any nasty surprises that may affect us, but nothing in life is certain except death and taxes. Unexpected changes to our lifestyle can have a knock-on effect on both our own future and our family’s future too. Don’t give in to worry
- [Seeking sunshine? Time for a holiday…](https://balancewealth.uk/seeking-sunshine-time-for-a-holiday/) - Did you know that travel booking tends to peak on Boxing Day? For many of you, the new year can be the perfect time to think about next year’s holidays. If you look in the right places, you can also find some great promotions on offer this time of year, especially if you’re interested in
- [Update on Children's Savings: 6 Useful Strategies for Children’s Savings](https://balancewealth.uk/update-on-childrens-savings-6-useful-strategies-for-childrens-savings/) - In today’s ever-changing economic climate, teaching your child to save for the future has never been so important. There are a range of savings options available – from government incentive schemes to helpful mobile apps. In this article, we take a look at some useful ways to help your child to save. 1. Pocket Money
- [Easter Nest Egg](https://balancewealth.uk/easter-nest-egg/) - We hope you have some exciting plans in store for Easter. As we’re also fast approaching the end of the financial year, if you happen to find yourself with some spare time, why not give your savings strategy a spring clean? With the right approach, you could create a nest egg for you and your
- [7 Things to Consider When You Get Married](https://balancewealth.uk/7-things-to-consider-when-you-get-married/) - This year’s wedding season is now just starting and it’s a good time to think about a few financial points to consider when you get married or enter a civil partnership. It doesn’t matter whether you’re embarking on your first marriage, or if you’ve been married before; whether you’re in your twenties or nineties, we
- [10 Ideas for Summer Holidays](https://balancewealth.uk/10-ideas-for-summer-holidays/) - Summer is nearly here, and the school holidays are just a few weeks away. So, have you booked your summer break or are you still considering what to do? Whether you’re an intrepid adventurer or a sunseeker, nowadays, there are so many interesting ways to spend your time, so how do you choose? If you
- [Free financial planning sessions - part of national campaign](https://balancewealth.uk/free-financial-planning-sessions-part-of-national-campaign/) - When it comes to planning for the future, it’s sometimes difficult to know where to start. There might be a bucket list, a dreams board, or even a worry box. The thing that most of us have in common is that we are so busy thinking about today that we put off planning for tomorrow.
- [Tips for saving for your child or grandchild’s future](https://balancewealth.uk/tips-for-saving-for-your-child-or-grandchilds-future/) - Keen to give the next generation a boost in adult life, parents are putting money away for their children’s future. And it’s likely that many grandparents and other loved ones are playing a role too. We take a look at the steps you can take to maximise the cash you put away with young family
- [Start the year as you mean to go on](https://balancewealth.uk/start-the-year-as-you-mean-to-go-on/) - After the excitement of Christmas and the New Year, it’s January. That typically means gyms are busier, people are abstaining from alcohol and this year others are embracing Veganuary; Greggs and their vegan sausage roll included! You may have made a New Year’s resolution, but did you realise that the vast majority fail? Research from
- [Free financial planning sessions #FPWUK #GMW19](https://balancewealth.uk/free-financial-planning-sessions-fpwuk/) - When it comes to planning for the future, it’s sometimes difficult to know where to start. You might have a bucket list, a dreams board, or even a worry box. The thing that most of us have in common is that we’re so busy thinking about today, that we put off planning for tomorrow. At
- [Are you ready to make big decisions?](https://balancewealth.uk/are-you-ready-to-make-big-decisions/) - Are you a snap decision maker? Or do you hate being put on the spot? As financial planners, we help people make great decisions about the most important things in life, but we know it’s not always easy. We’ve picked out three types of people who tend to find decision-making more difficult than most. The
- [How to find a financial planner you can trust](https://balancewealth.uk/how-to-find-a-financial-planner-you-can-trust/) - Navigating your finances can often be a troublesome and gruelling task, with many people inclined to leave it at the very bottom of their to-do list. But eventually, we all need to eat the frog, so to speak. Organising your finances will give you more time and freedom to think about where you want to
- [5 eco-friendly Christmas gift ideas](https://balancewealth.uk/5-eco-friendly-christmas-gift-ideas/) - What better way to show your appreciation for your loved ones and the planet this festive period, than finding the perfect eco-friendly gift that won’t cost the earth? It doesn’t have to be difficult, simply choosing to buy second-hand or opting for sustainable alternatives can make a world of difference. As part of the Low
- [5 top tips to help your finances survive redundancy](https://balancewealth.uk/5-top-tips-to-help-your-finances-survive-redundancy/) - Redundancy is one of the biggest bumps in the road life can throw at you, so here are our 5 top tips to help your finances survive redundancy. It can be overwhelming when your financial future becomes uncertain, but there are steps you can take to make sure you stay afloat whilst you decide on
- [Understanding the emotional benefits of working with a financial adviser](https://balancewealth.uk/understanding-the-emotional-benefits-of-working-with-a-financial-adviser/) - When we talk about the value of our advice, it comes in two forms: tangible and intangible. The tangible benefits come in the form of our cashflow modelling, lifetime wealth forecasting, and of course, the evidence-based financial plan that we implement with you. By contrast, the intangible benefits are harder to quantify, as it’s all
- [Why life insurance should be a vital part of your financial plan](https://balancewealth.uk/why-life-insurance-should-be-a-vital-part-of-your-financial-plan/) - Insurance is often overlooked, or seen as a ‘nice to have’, but the reality is that life insurance should be a vital part of your financial plan. And yet, a survey carried out by MoneySuperMarket shows that 60% of UK adults don’t have any form of life insurance. It’s easy to disregard insurance because it
- [Developing the ultimate savings strategy](https://balancewealth.uk/developing-the-ultimate-savings-strategy/) - The 2018 Financial Capability Survey shows that on average 10.7 million UK adults rarely or never save, and around 11.5 million have less than £100 in savings. However, whilst better savings habits should be encouraged, having money or accumulating more wealth should not be an aim in itself. You should aim to have enough to
- [What is the difference between financial planning and financial advice?](https://balancewealth.uk/what-is-the-difference-between-financial-planning-and-financial-advice/) - It’s time to shine a light on what we do as financial planners and how it differs to financial advice. And if you’re already familiar with what we do and the differences, view this as your guide to help educate other people who do not yet know the powers of financial planning. As financial planners,
- [Once upon a plan: Linda and Robert](https://balancewealth.uk/once-upon-a-plan-linda-and-robert/) - Looking to retire, already retired, receiving a lump sum, selling a business, or even just wanting to reorganise your finances to put you in a better position to reach your goals? Whatever stage of life you’re in, financial planning can help change the way you live. The value of our advice is often overlooked. That’s why
- [New faces and anniversary celebrations for us!](https://balancewealth.uk/new-faces-and-anniversary-celebrations-for-us/) - We are delighted to announce that we have recently added five new employees to the team, and are recruiting currently recruiting for three as we celebrate completing our third year of business! Jon Thorpe and Tina Winter have both joined the team as Financial Planners, with Jon based out of Derby and Tina predominately being
- [Shortlisted for the Female Entrepreneur of the Year category in Midlands](https://balancewealth.uk/shortlisted-for-the-female-entrepreneur-of-the-year-category-in-midlands/) - We're very pleased to announce that our Managing Director, Rebecca Aldridge, has been shortlisted for #FLNationalAwards & Summit 2018! An inspirational programme showcasing diversity in business, recognising the doers, trailblazers & inclusive leaders across the UK. Join us: https://forwardladies.com/nationalawards/
- [A message from Rebecca - COVID-19](https://balancewealth.uk/a-message-from-rebecca-covid-19/) - I want to personally reach out during this difficult time when we are facing so many challenges and changes as a result of Coronavirus. I am mindful that in what can be frightening times, we all need to keep in contact, look for positives and keep spirits high. The Coronavirus has had a significant and
- [A message from Rebecca - COVID-19 six months on](https://balancewealth.uk/a-message-from-rebecca-covid-19-six-months-on/) - It’s been six months since lockdown was introduced in the UK in a bid to beat the virus and what a time it has been. I think back to my message just as we entered lockdown and where I imagined we would be six months on; there have been many lows, but an incredible amount
- [2020: A year in focus](https://balancewealth.uk/2020-a-year-in-focus/) - What a year it has been, with many lows, but also highs. Yet, against all odds, somehow so much has been achieved. Whilst this doesn't take away the pain and difficulties of this year, within society, people have shown greater empathy and kindness than we’ve ever seen before. And at Balance, we’ve managed to grow
- [Why is financial planning so important?](https://balancewealth.uk/why-is-financial-planning-so-important/) - You may know who we are and what we do, but are you still unsure about why you might need a financial plan in place? Maybe you’re a small business owner, an engineer or a senior executive. If you have a vision for the future but you’re not sure how to organise your wealth appropriately
- [What are you signing: The different types of Letters of Authority](https://balancewealth.uk/what-are-you-signing-the-different-types-of-letters-of-authority/) - When you engage with a Financial Planning firm, one of the first things they will ask you to do is sign a Letter of Authority (LOA). However, what are you signing? Over the past few weeks, we’ve received questions about Letters of Authority (LOAs). In this blog post, we aim to explain what these forms
- [How to future-proof your finances when facing redundancy](https://balancewealth.uk/how-to-future-proof-your-finances-when-facing-redundancy/) - Spending over a third of our lifetime at work, a job provides financial security, mental stimulation, and social interaction. So, when job security comes into question when facing redundancy, it can be a very worrying time. There were a record 370,000 redundancies in the last quarter of 2020, which is not surprising given the situation
- [Wellbeing: Finding the right balance](https://balancewealth.uk/wellbeing-finding-the-right-balance/) - Everything in life is about balance. How much we eat, how much we move, the balance between work and life, the list goes on. Ultimately, your overall wellbeing relies on finding the right balance between your health, wealth and happiness. Over the last year, we’ve seen a shift in where we spend our time. And
- [How to prepare your family for a transfer of wealth](https://balancewealth.uk/how-to-prepare-your-family-for-a-transfer-of-wealth/) - One of the most common goals we hear is people wanting to support their families. It could be helping their children get onto the property ladder, paying for the care of their parents or leaving a legacy. Yet, many still find it hard to discuss finances with their family and don’t prepare the family for
- [A change in retirement plans](https://balancewealth.uk/a-change-in-retirement-plans/) - A lot of things have changed over the last year. The world seems a very different place from what it was some 18 months ago. Understandably, the fiscal focus has firmly been on protecting the income of those working, with the introduction of the furlough scheme. However, the “drawdown generation” did not escape the pandemic
- [Is cash still king?](https://balancewealth.uk/is-cash-still-king/) - In the not so distant past, cash was king. Notes and coins regularly exchanged hands, but as technology improves and it’s now possible to pay with just your smile, as well as the global pandemic altering spending habits, the need for physical cash is declining. This coupled with fears of rising inflation and low interest
- [Ethical investing: Where do you stand?](https://balancewealth.uk/ethical-investing-where-do-you-stand/) - In short, ethical investing involves aligning your investments with your moral values. It’s about having a positive impact and investing in social change, not just for returns. To help decide which investment approach is best for you, you first need to think about what matters to you the most. Whether you’re passionate about animal welfare,
- [Setting financial goals and objectives for your future](https://balancewealth.uk/setting-financial-goals-and-objectives-for-your-future/) - Where would we be without goals and objectives? Even if we don’t think about it, we usually wake up with a plan for the day. Whether it’s doing a grocery run, going to work or calling a friend, it’s how we structure our days, weeks, months and years. And, it shouldn’t be any different for
- [The big tax freeze](https://balancewealth.uk/the-big-tax-freeze/) - In the aftermath of the COVID-19 pandemic, the Government announced the 2021 Budget and its plans for economic recovery. Whilst there were no painful tax hikes, the subtle changes haven’t gone unnoticed. So, let’s dig a little deeper into the big tax freeze of 2021/22. We’ve touched on the tax changes in our Budget breakdown, looked at
- [5 top tips for managing your money worries](https://balancewealth.uk/5-top-tips-for-managing-your-money-worries/) - One of the most common causes of stress is money; whether you have a six-figure salary or live month-to-month, we all worry about money to some extent. Many of these concerns stem from uncertainty surrounding earning it, keeping it, growing it and even spending it. What’s more, money and mental health are interlinked; poor mental
- [Active vs passive investing](https://balancewealth.uk/active-vs-passive-investing/) - When it comes to investing, there is a whole world of choice out there. With over 3,000 types of funds to choose from in the UK, from mutual funds, closed-end funds, index funds and active funds, it can be overwhelming. And one of the biggest debates out there is whether active vs passive investing is
- [Tax planning for 2021/22](https://balancewealth.uk/tax-planning-for-2021-22/) - As we approach the new tax year, it’s time to look at the tax changes for 2021/22 and how you can better organise your finances and maximise your savings in the year ahead. Here we will be sharing our top planning tips to help you make the most out of every penny. At the start
- [What are the different types of ISAs?](https://balancewealth.uk/what-are-the-different-types-of-isas/) - An Individual Savings Account (ISA) is a tax-efficient way to save money. As we move forward into the new financial year 2017 – 2018, there is a new ISA allowance of £20,000. There are two types of ISA: Cash and Stocks and Shares and you can split your allowance between the two types. If you’re
- [Lockdown lessons](https://balancewealth.uk/lockdown-lessons/) - As we near the year anniversary since the UK entered the first national lockdown, and we edge closer to the current lockdown restrictions lifting, it’s got us thinking about experiences we’ve missed, memories we’ve made and the lockdown lessons we’ve learned. Recently our Managing Director, Rebecca Aldridge, mentioned a conversation she had with a client
- [6 ideas for your post-social distancing bucket list](https://balancewealth.uk/6-ideas-for-your-post-social-distancing-bucket-list/) - Around 20% of the global population is now in lockdown. Life as we knew it has changed significantly and we’re all having to adapt to the new ‘normal’. We're sure, like us, you’re all itching to get out of the house and enjoy the luxuries of life that we previously took for granted. But right
- [Financial planning for life’s unexpected events](https://balancewealth.uk/financial-planning-for-lifes-unexpected-events/) - If the last year is anything to go by, ‘expect the unexpected’ has never been more appropriate. It’s virtually impossible to anticipate life’s unexpected events, but factoring these concerns into your financial planning journey will help reduce your worries in times of change. Research from Standard Life revealed that within the financial services arena, the main concerns
- [Your very own financial survival toolkit](https://balancewealth.uk/your-very-own-financial-survival-toolkit/) - No one could have predicted the events of 2020 so far, but we don’t need a crystal ball to know that COVID-19 will have a lasting impact beyond lockdown. As the restrictions surrounding lockdown lift, and normality begins to creep back in, you may find that not everything falls back into place the way it
- [The benefits of cashflow modelling](https://balancewealth.uk/the-benefits-of-cashflow-modelling/) - Cashflow modelling is one of the main components of a robust financial plan. But what is it and what are the benefits? It’s not very often that people walk into a shop to buy an item without checking the price tag; a quick sense-check to make sure it’s affordable before you go to the counter.
- [A beginner’s guide to retirement planning](https://balancewealth.uk/a-beginners-guide-to-retirement-planning/) - Retirement looks a lot different now than it did a decade ago, and there are bound to be more changes in the future. So, what does that mean for your retirement planning? Here’s your beginner’s guide to retirement planning to give you a helping hand. We’re already aware that retirement in the modern world takes
- [Investing time in you](https://balancewealth.uk/investing-time-in-you/) - Ever feel like life is moving too fast? Despite the world slowing down over the past year, it’s probably fair to say we’ve all been caught up in world events and making sure the ones we love are okay. But have you stopped to check-in on you? It might seem obvious, but if you don’t
- [Once upon a plan: Marie and David](https://balancewealth.uk/once-upon-a-plan-marie-and-david/) - Life is a journey. We may not always know the destination or take the same route. We start at different points and navigate a unique path. However, without a map, it will take all of us longer to get there. And the same can be said about finances. As part of our ‘Once upon a
- [New year, new goals](https://balancewealth.uk/new-year-new-goals/) - Following the year that disrupted and derailed most resolutions and plans, it’s probably best we don’t dwell on 2020. However, now a new year is here, let's focus on some new goals, with the hope that we might eventually have back some form of normality. If 2020 has taught us anything, it’s that we can’t
- [Financial planning fees: Fixed is fair](https://balancewealth.uk/financial-planning-fees-fixed-is-fair/) - It’s time to talk about financial planning fees. There’s percentage-based fees, hourly fees and fixed fees, but which way is right for you? At Balance: Wealth Planning, we charge fixed fees because that is what we think is fair. However, with 58% of the industry still charging percentage-based initial fees and over two-thirds of advisers
- [DIY Christmas gifts for all the family](https://balancewealth.uk/diy-christmas-gifts-for-all-the-family/) - For this one, we’re about to get crafty with some DIY Christmas gifts for all the family. This year has been a year for creativity in abundance and Christmas is no exception. We’ve seen people embrace the festivities earlier than ever, with creative window displays, Christmas music and decorations aplenty. So, as the holidays draw
- [How to stay connected this Christmas](https://balancewealth.uk/how-to-stay-connected-this-christmas/) - It’s safe to say we could all do with a little extra love and kindness this Christmas. This year has been a challenge, and with the prospect of a quieter Christmas, it might not be the end to 2020 we hoped. However, there are still lots of fun and creative ways for us all to
- [A complete financial planning checklist](https://balancewealth.uk/a-complete-financial-planning-checklist/) - We’ve all heard of a spring clean, but what about an autumn audit? Your finances can often end up being an endless stream of paperwork and email communications. That added to the fact that your money might be here, there and everywhere can make organising your finances feel like a huge burden. Yet, knowing where
- [5 apps you should know about](https://balancewealth.uk/5-apps-you-should-know-about/) - Advances in technology have changed the way many of us live our lives. For better or for worse, there are pros and cons to these technological advancements. However, one thing is certain, this year we have had to rely on technology more than ever before. In this article, we'll be looking at why you should
- [How to start talking about money](https://balancewealth.uk/how-to-start-talking-about-money/) - Talking about money comes naturally to us as Financial Planners, but for many, it can be difficult; in the UK it’s often seen as a taboo, with 43% of people admitting they have felt embarrassed talking about personal finances. However, during times like we’ve seen this year, speaking about the M word is more important
- [Essential financial and tax planning for your business](https://balancewealth.uk/essential-financial-and-tax-planning-for-your-business/) - For the entrepreneurs and business owners of the world, our first financial planning tip is to start with the end in mind. If you take extra care of your business from the get-go and keep everything tidy and clean, the easier your preparation will be when you decide it’s the right time to move on
- [Inheritance planning: Practical steps to future-proof your finances](https://balancewealth.uk/inheritance-planning-practical-steps-to-future-proof-your-finances/) - Inheritance planning can often conjure up a mix of emotions. It’s a difficult topic to think about, let alone discuss. First things first, we recommend that you take a step back if you can. This will allow you to take control and apply some practical steps to an emotive situation. In this blog post, we’ll
- [Your questions answered: Pension and investment withdrawals during COVID-19](https://balancewealth.uk/your-questions-answered-pension-and-investment-withdrawals-during-covid-19/) - Over the past couple of months, we have received lots of questions about the impact of coronavirus. In particular, we had a number of retired clients get in touch to ask what they should do about their pension and investment withdrawals. They wanted to know whether the flexible income from their investments and pensions should
- [Why planning for retirement should start earlier than you think](https://balancewealth.uk/why-planning-for-retirement-should-start-earlier-than-you-think/) - We all have a picture in our mind about what retirement looks like, but we’re here to shatter a few illusions. Retirement doesn’t have to be about slowing down and taking it easy; it’s an exciting new phase of life that brings with it lots of opportunities and possibilities. But, to have the retirement that
- [A ‘green’ recovery: Making more sustainable choices](https://balancewealth.uk/a-green-recovery-making-more-sustainable-choices/) - After a challenging start to the decade, governments around the world are responding to the recent health crisis and proposing their plans to rebuild; and many believe ‘going green’ is the best way forward. On 22nd July 2020, the UK Government committed £350 million to cut carbon emissions and drive economic recovery following Coronavirus. It’s
- [5 top planning tips to pass on to the next generation](https://balancewealth.uk/5-top-planning-tips-to-pass-on-to-the-next-generation/) - How many times have you said to yourself “If I knew then what I know now”? This happens in all walks of life, and we are guessing finances aren’t the exception; a legacy is about so much more than the wealth you pass on, the real value comes from what you pass on during your
- [Ikigai: Finding your reason for being](https://balancewealth.uk/ikigai-finding-your-reason-for-being/) - For most people, it takes a lifetime of self-discovery to ‘find yourself’, but have you ever thought about your reason for being – your ikigai? This is often overlooked; we get so caught up in everyday life that we forget about the smaller things. However, tuning in on what gets you out of bed in
- [Guest blog: Capital Gains Tax - changes and consultation](https://balancewealth.uk/guest-blog-capital-gains-tax-changes-and-consultation/) - Today we’re handing over the reins to the experts at Mellor Oxland LLP, to tell you all about the current and proposed changes to capital gains tax: To say the past few months have presented challenges seems rather an understatement, but a debate about what is the best choice of words could run and run.
- [Welcome to the third age: Living the retirement dream](https://balancewealth.uk/welcome-to-the-third-age-living-the-retirement-dream/) - Welcome to the third age! Gone are the days of working until you drop. Now that we’re healthier and living longer, there’s more time for you to enjoy your golden years in retirement doing what you love most, or taking on new adventures that you didn’t have time for previously. Forget your 20/30s personal growth
- [What is financial wellbeing, and how to achieve it](https://balancewealth.uk/what-is-financial-wellbeing-and-how-to-achieve-it/) - You’ve probably already heard the term ‘financial wellbeing’ pop up in different places. And, earlier this year, the Money and Pensions Service (MaPS), introduced the UK Strategy for Financial Wellbeing to help improve the UK’s financial wellbeing. But the question is: what is financial wellbeing, and how do you achieve it? We all know what
- [Unlocking your financial freedom through financial planning](https://balancewealth.uk/unlocking-your-financial-freedom-through-financial-planning/) - We’ve all heard the phrase money can’t buy you happiness but unlocking your financial freedom through financial planning will certainly help. Since March 2020, amongst the backdrop of COVID-19, research carried out by the Office of National Statistics (ONS) shows that 25 million people have experienced ‘high’ levels of anxiety, and 5.3 millions of those
- [Pensions: The importance of living now while saving for retirement](https://balancewealth.uk/pensions-the-importance-of-living-now-while-saving-for-retirement/) - Are you saving enough to achieve your desired standard of living in retirement? If you’re not sure, then it’s time for you to take a look at the shape of your pension savings and start planning for the retirement you want. As financial planners, we understand the importance of living now while saving for retirement.
- [6 Steps of Financial Planning](https://balancewealth.uk/6-steps-of-financial-planning/) - Earlier in October, we ran a series of amazing workshops in support of Financial Planning Week 2019. As some of you may not have been able to attend, we thought it might be useful to revisit the 6 key steps of Financial Planning that were covered during our sessions. Whether Financial Planning is a completely
- [5 ideas for the perfect UK summer staycation](https://balancewealth.uk/5-ideas-for-the-perfect-uk-summer-staycation/) - Like most of us, you’re probably dreaming of your next holiday abroad. Your summer plans may have been interrupted, but let us look on the bright side - it’s a great time to plan for the perfect UK summer staycation. With so much of the world to explore, it’s easy to forget the brilliant and
- [The value of advice](https://balancewealth.uk/the-value-of-advice/) - What is the value of advice? You may understand who we are and how we work, but commonly many overlook the true value we provide. Studies show that strategic advice from a financial adviser can add real financial value to your wealth. On average, clients of professional firms make an extra 3% - 4%. And
- [Mini-Budget 2020: Key points from Rishi Sunak’s summer statement](https://balancewealth.uk/mini-budget-2020-key-points-from-rishi-sunaks-summer-statement/) - On 8th July, Chancellor Rishi Sunak’s summer statement unveiled new Government measures to boost the UK economy in the wake of the coronavirus lockdown. Speaking in the House of Commons, Sunak delivered his recovery plan, noting that the job of responding to the crisis has “only just begun”. The £30bn mini-budget marks the second phase
- [Divorce: A financial planning checklist for your next phase of life](https://balancewealth.uk/divorce-a-financial-planning-checklist-for-your-next-phase-of-life/) - Our lives split into different chapters, some an easier read than others, and divorce is just one arc in the narrative that is particularly unpleasant. But the good news is that no one has to face it alone. There are so many resources available to help you navigate through your divorce, making sure you come
- [How to live life to the fullest and avoid regrets](https://balancewealth.uk/how-to-live-life-to-the-fullest-and-avoid-regrets/) - Would you say that you are living life to the fullest, or is there is anything that you would like to change now to avoid having regrets in the future? The global pandemic has forced us to view life through a different lens. It has been a shared experience and one that has made us
- [Is it time for a financial health check?](https://balancewealth.uk/is-it-time-for-a-financial-health-check/) - When was the last time you had a financial health check? Was it a year ago, a few years ago, or maybe you’re wondering what this entails, so quite possibly never! Like our physical and mental health, our financial health can hugely impact our overall wellbeing. That’s why it’s so important to know what shape
- [The importance of goals](https://balancewealth.uk/the-importance-of-goals/) - There are lots of reasons why goal setting is so important. Primarily, it gets you thinking about what you want to get out of life and your desired future. It’s only then that you can start working towards this. Every day we all have a series of to-do lists, however big or small, and we
- [Your questions answered: Taking control of your finances](https://balancewealth.uk/your-questions-answered-taking-control-of-your-finances/) - Do you feel like you've never been good with money? Maybe you're quite an impulsive person by nature. What we recommend is that you embrace your characteristics and enjoy your money, but to do this you should start by understanding your finances, knowing how much you have to play with and budgeting carefully. Here, our
- [Mental health and insurance](https://balancewealth.uk/mental-health-and-insurance/) - The theme for Mental Health Awareness week 2020 is kindness, and there hasn’t been a more important time than now to be kind to ourselves and those around us. Most of the world has felt the strain in some way, shape or form in 2020 with Coronavirus causing disruption, uncertainty and anxiety for many. But,
- [Staying vigilant amid coronavirus-related scams](https://balancewealth.uk/staying-vigilant-amid-coronavirus-related-scams/) - Despite the Coronavirus pandemic highlighting the kindness of many people across the UK, it has sadly also brought criminals into the spotlight. Fraudulent activity has increased significantly, with scammers exploiting the public’s financial and health concerns to prey on vulnerable people. In March, Action Fraud claimed that coronavirus-related fraud reports increased by 400%, with the
- [Your questions answered: Investing during market difficulties](https://balancewealth.uk/your-questions-answered-investing-during-market-difficulties/) - We've received quite a few questions about investing, following the recent market reaction to everything that is going on in the world. So, we’ve put together a series of ‘your questions answered’ to help anyone concerned about their finances. In the first video our Managing Director and Chartered Financial Planner, Rebecca Aldridge took to the
- [Tech to help you manage your finances](https://balancewealth.uk/tech-to-help-you-manage-your-finances/) - Now that we’re all familiarising ourselves with the virtual world, the question is: are you using the right tech to help you manage your finances? With most of us opting to make payments via debit or credit card, cash seems like a thing of the past. Transactions have moved online, for the most part, but
- [10 key challenges and breakthroughs of ethical investing](https://balancewealth.uk/10-key-challenges-and-breakthroughs-of-ethical-investing/) - Sustainability continues to move up the political, social and world agenda. As we stay home more, the positive impact on the environment only continues to increase, highlighting the importance of today’s actions on tomorrow’s world. Similarly, ethical investing is changing the landscape of the investment industry. But there are still challenges to be overcome as
- [Defined Benefit transfer freeze: Pensions Regulator responds to COVID-19](https://balancewealth.uk/defined-benefit-transfer-freeze-pensions-regulator-responds-to-covid-19/) - On Friday 27th March 2020, The Pensions Regulator published guidance allowing Defined Benefit (DB) schemes to delay transfer requests by up to three months. Why is there a ‘DB transfer freeze’? As we are sure you are aware, the stocks markets felt the impact of Coronavirus and have drastically fallen since the pandemic outbreak. The
- [10 myths of ethical investing](https://balancewealth.uk/10-myths-of-ethical-investing/) - To clarify what ethical investing is, we’ll start by establishing what it isn’t. In this article, we’ll be addressing the ten most common myths of ethical investing. There has been a sea of definitions and ideas thrown in the arena of ethical investing, but the motivation remains the same; ethical investing is for people wanting
- [5 essential (new) tax year resolutions to refresh your finances](https://balancewealth.uk/5-essential-new-tax-year-resolutions-to-refresh-your-finances/) - With the tax year ending soon, it’s time to start thinking about your new tax year resolutions. This is the perfect opportunity to organise your finances to make the most of your savings allowances. If you’ve not been able to follow our financial new year's resolutions – this is your chance to start over. Here
- [10 positive actions you can take while self-isolating](https://balancewealth.uk/10-positive-actions-you-can-take-while-self-isolating/) - We’re all facing a challenging time at the moment, and the uncertainty is likely to be making people feel a bit anxious or uneasy. So it’s vital to remember that, provided we step up and support each other, we can and will get through this. As of Monday 23rd, the UK government have introduced strict
- [The story of Balance: Wealth Planning](https://balancewealth.uk/the-story-of-balance-wealth-planning/) - As we dive headfirst into Balance: Wealth Planning’s 5th year of business, we would like to take a moment to reflect on our journey so far. We’re so pleased to be where we are today after making our debut in 2015 and a lot of that is thanks to the support we have received. From
- [Tina Talks: Pension savings and the gender pensions gap](https://balancewealth.uk/tina-talks-pension-savings-and-the-gender-pensions-gap/) - Recent research has shown that the gender gap between men and women doesn’t just apply during working life; it also extends into retirement. So why is this? To explore this further, our Financial Planner, Tina Winter, recently spoke at an open event at King’s College London Business School; “Investing to secure your financial future”. Aimed at,
- [Honours for Paraplanner Dani Nicholls](https://balancewealth.uk/honours-for-paraplanner-dani-nicholls/) - Our Paraplanning Manager, Dani Nicholls, has been celebrating after being recognised as one of the UK’s best paraplanners in the 2019 Money Marketing Awards. Dani was awarded Highly Commended and the judges commented that her extremely positive attitude and dedication to the role stood out to them and that their decision had been a very
- [Pension Transfer Gold Standard](https://balancewealth.uk/pension-transfer-gold-standard/) - We are absolutely delighted that we have been acknowledged by the Personal Finance Society (PFS) with the Pension Transfer Gold Standard. It’s a badge that we wear with pride and it's awarded to financial planning companies that adopt and champion a strong ethical code of conduct for pension transfer advice. At Balance: Wealth Planning, we want to continually improve
- [Top 100 Financial Planning firms in the country](https://balancewealth.uk/top-100-financial-planning-firms/) - Balance: Wealth Planning has been selected as one of the New Model Adviser® Top 100 Financial Planning firms in the UK for 2018. The New Model Adviser® publication recognises firms that have established a successful approach and positive culture within their business. Selecting firms that have demonstrated a clear strategy for growing their business, contributing to the industry
- [6 financial New Year’s resolutions everyone should have](https://balancewealth.uk/6-financial-new-years-resolutions-everyone-should-have/) - We are edging ever closer to the New Year, which means it’s time for us to reflect on the year that has passed so that we can develop ourselves in the future. Whether you’re the kind of person that makes resolutions around this time of year or not, you probably have some goals or aspirations
- [Five ways to spring-clean your finances](https://balancewealth.uk/five-ways-to-spring-clean-your-finances/) - It's not long to go until the end of the financial year, how are your finances shaping up? If you feel like you’re drowning in paperwork and your personal finance to-do list is getting ever longer, read on…. 1. Get organised To assess your financial position and accurately review where you are, collect together any
- [Discussing Child Trust Funds](https://balancewealth.uk/discussing-child-trust-funds-ctf/) - Child Trust Funds were only available for children born between 2002 and 2011, but there are a good few of them still around now. Many of them are quite small in value because of the limit of what could be paid in, and they are often set aside by people we speak to as not
- [Holiday Checklist: have you got everything covered?](https://balancewealth.uk/holiday-checklist-have-you-got-everything-covered/) - The summer holidays are finally here, so before you start packing and embark on your travels, have you checked that you have everything you need? It’s amazing what we forget when we’re eager to get away. So, we’ve pulled together a handy checklist with a few useful tips to help you enjoy a stress-free holiday…
- [7 Common Mistakes When Writing a Will](https://balancewealth.uk/7-common-mistakes-when-writing-a-will/) - What do you need to consider when you write a Will? Do you know exactly what to include? Without an accurate and legal Will in place, your wishes may not be reflected when you pass away, so it’s important to check that it’s correct. If you already have a Will, but you haven’t updated it
- [Financial Planning for Businesses](https://balancewealth.uk/financial-planning-for-businesses/) - There are a lot of things to consider when you’re looking at financial planning for your business. Whether you’re a single director or you run a successful large business, there are many ways to maximise your tax-savings and help you build your own wealth in the long term. In today’s volatile economy, it’s always a
- [Setting goals for a successful future](https://balancewealth.uk/setting-goals-for-a-successful-future/) - We all dream of where we would like to be in the future. So, how can you turn your dreams into reality? What goals do you need to set to help you realise your dreams? Dreams and goals often get confused, and they actually mean different things. Therefore, in this article, we take a closer
- [The Secret Behind Successful Business Goals](https://balancewealth.uk/the-secret-behind-successful-business-goals/) - In our previous blog, we discussed the importance of setting personal goals to achieve a desirable lifestyle. But what’s the secret behind setting goals for your business that can also lead to successful outcomes? In this article, we take a look at some high-profile UK business leaders to see the inspiration that lies behind their
- [Guest Blog from Mark Ferron, Castle Associates: Top 3 tips when negotiating settlement agreements...](https://balancewealth.uk/guest-blog-from-mark-ferron-castle-associates-top-3-tips-when-negotiating-settlement-agreements/) - There are times when relationships within the workplace can go wrong and may not break down completely; however, they do begin to have damaging consequences within the workplace especially on with other colleagues and their performance. There are also times when individuals, especially senior managers and directors, are forced out of the business they have
- [7 Days Till Christmas! Unusual Festive Gifts](https://balancewealth.uk/7-days-till-christmas-unusual-festive-gifts/) - With only a week to go until Christmas, no doubt many of you are feeling under pressure to buy last-minute gifts. We all know someone who is impossible to buy for! So, this week, we thought we would take a look at some interesting festive gifts to give to family and friends: 1. For timekeepers
- [What is Peer to Peer Lending?](https://balancewealth.uk/what-is-peer-to-peer-lending/) - Everyone seems to be talking about peer-to-peer lending these days. Also known as P2P lending, this is where money is loaned to businesses (or individuals) online, using systems that match lenders with borrowers. For businesses, it can prove to be an easier way to raise much-needed finance. For investors, it can provide a return on
- [6 Top Tips for Children’s Savings](https://balancewealth.uk/6-top-tips-for-childrens-savings/) - We all want our children to do well in life – to succeed and be happy. And because money is such an important part of life, it’s important they learn what it’s for, where it comes from and to have a healthy respect for it. Studies have shown that children who understand money and learn
- [Holiday Spending and Stunning Destinations](https://balancewealth.uk/holiday-spending-and-stunning-destinations/) - As we move towards the end of June, summer is now upon us. You may have preplanned your summer break or you might be looking to take advantage of last-minute offers. Whatever you have planned, how do you make the most of your holiday spending? Before you take flight or go on that luxury cruise,
- [What impact will Boris Johnson have on your money?](https://balancewealth.uk/what-impact-will-boris-johnson-have-on-your-money/) - The new prime minister has said he has some ideas up his sleeve which will ‘dramatically affect tax, investments and housing’. Of course, these could come to nothing. But if he does manage to put some of these plans into place, the impact could impact all of us. Let’s take a closer look. Higher rate
- [Autumn Budget 2018: Everything you need to know](https://balancewealth.uk/autumn-budget-2018-everything-you-need-to-know/) - Just after 3.30 pm today the Chancellor, Philip Hammond, stood up to deliver the first Budget on a Monday since 1962 and the last before Brexit. He started by saying this would be a Budget for "hard-working families … who live their lives far from this place ... and care little for the twists and
- [Recent rise in base interest rate: how will you be affected?](https://balancewealth.uk/recent-rise-in-base-interest-rate-how-will-you-be-affected/) - Recently, the Bank of England raised the base interest rate from 0.5% to 0.75%. This is only the second time interest rates have risen in over a decade, but it is thought that the base rate could increase again, possibly as much as 1.5%. So, how will this affect you in terms of savings, property
- [Brexit update](https://balancewealth.uk/brexit-update/) - On Monday 9 July, Prime Minister Theresa May faced another member of her cabinet resigning – this time it was Boris Johnson, the former Foreign Secretary. Within minutes of his resignation, the pound plunged to around 1.3270 against the dollar, which is a fall of 0.3% in comparison with its opening price that morning. The
- [The Carillion Crisis: how ripples will be felt across many industries](https://balancewealth.uk/the-carillion-crisis-how-ripples-will-be-felt-across-many-industries/) - Last week’s news that construction giant, Carillion, has gone into compulsory liquidation has sent shockwaves across the country. Many sub-contractors have now been left in a very precarious position with the risk of not being paid. Although it was announced on Wednesday that The Insolvency Service has pledged to keep paying 90% of Carillion’s UK
- [Autumn Budget 2017: what you need to know](https://balancewealth.uk/autumn-budget-2017-what-you-need-to-know/) - On Wednesday 22 November, Chancellor Phillip Hammond delivered the 2017 Autumn Budget. The main highlights include changes to stamp duty for first-time buyers, updates on the economy, and increased investment into technology. We have pulled together a high-level summary below: Stamp duty to be abolished for first-time buyers To stimulate the housing market, first-time buyers
- [Increased interest rates](https://balancewealth.uk/increased-interest-rates/) - Last week, the Bank of England raised interest rates from 0.25% to 0.5%. This is the first time in over 10 years we have seen such a rise. Over the next 3 years, it has been predicted that interest rates will rise twice more too. So, how does this affect you? Higher mortgage payments? Unless
- [Aware of the Big Changes to Dividend Tax?](https://balancewealth.uk/aware-of-the-big-changes-to-dividend-tax/) - In the Spring Budget 2017, the Chancellor announced that the tax-free Dividend Allowance would reduce from £5,000 to £2,000 in January 2018. Previously, basic rate taxpayers were not required to pay tax on dividends due to 10% ‘notional tax credit’. However, the Dividend Tax Credit was abolished in April 2016 and replaced with the new
- [The Effects of Global Politics and Events on Investments](https://balancewealth.uk/the-effects-of-global-politics-and-events-on-investments/) - It seems that most days there’s something happening in the news that catches our attention. From North Korean missile tests, to extreme weather patterns in the southern states of America and the Caribbean, to the ongoing uncertainty over Brexit, the list is endless. What effect do such events have on investments? We have looked at
- [The Rise of Bitcoin and the Cashless Society](https://balancewealth.uk/the-rise-of-bitcoin-and-the-cashless-society/) - For most of us, gone are the days when you would visit the bank to withdraw large sums of cash to cover your monthly spend. With very few places (if any) demanding a minimal charge for contactless transactions, it’s easier than ever to pay for small items without having to carry any money around. Last
- [Financial markets reaction to the General Election](https://balancewealth.uk/financial-markets-reaction-to-the-general-election/) - The results of the General Election are out – we are facing a hung parliament. Prime Minister Theresa May’s gamble did not go as planned, with the Conservatives winning 318 seats (they needed 326 for a majority) and Labour’s Jeremy Corbyn winning 262 seats. Over the weekend, the Conservative party have been discussing a deal
- [Let's Get  Digital...Making Tax Digital](https://balancewealth.uk/lets-get-digital-making-tax-digital/) - From April 2018, many businesses and self-employed people (including landlords) will be required to start using digital software for tax records, submitting these to HMRC on a quarterly basis. This is part of a government measure to make tax administration simpler for tax payers, as well as more effective and efficient. By speeding up the
- [Article 50 – Update on Brexit and Leaving the EU](https://balancewealth.uk/article-50-update-on-brexit-and-leaving-the-eu/) - Today, Prime Minister Theresa May, handed over a formal letter to Brussels, triggering Article 50 of the Lisbon Treaty and starting the process of the UK leaving the European Union. Although it will take at least 2 years of formal negotiations, in this time of uncertainty and mixed feeling, we look at the implications for
- [Why aspirations should be placed at the centre of your retirement finances](https://balancewealth.uk/why-aspirations-should-be-placed-at-the-centre-of-your-retirement-finances/) - When it comes to retiring, the focus is often on money. There’s no doubt that the income you will receive once you’ve given up work is an important factor for your retirement. But it shouldn’t be the sole focus of your plans. In fact, your aspirations should be placed at the centre. There are many
- [Should you still reduce investment risk as you approach retirement?](https://balancewealth.uk/should-you-still-reduce-investment-risk-as-you-approach-retirement/) - In the past, it was common to reduce the amount of investment volatility you were exposed to as you approached retirement. But retirement has changed a lot in recent years, so is it still the right approach? The theory behind reducing risk in your investment portfolio made sense in the past. After all, you didn’t
- [The retirement challenges beyond finances](https://balancewealth.uk/the-retirement-challenges-beyond-finances/) - When it comes to retirement planning, it can seem like much of the focus is on your finances. Money is clearly an important factor, but it shouldn’t be the only thing to consider. The retirement income you have is clearly crucial for achieving your goals, saving enough is often a challenge that’s focused on. However,
- [Do you live in one of the best places for retirement?](https://balancewealth.uk/do-you-live-in-one-of-the-best-places-for-retirement/) - When you think about your retirement, what do you picture? If it involves moving to a new location, these top 10 retirement destinations in England and Wales might be just what you’re looking for. According to Prudential, the best places to spend your years after giving up work are: West Sussex Dorset East Sussex Isle
- [What to do if you’re offered a ‘free pension review’](https://balancewealth.uk/what-to-do-if-youre-offered-a-free-pension-review/) - People approaching retirement are increasingly being targeted by fraudsters with an offer of a ‘free pension review’. Indeed, 28% of pension savers have been offered a ‘free pension review’ by phone, email, or text, according to research from Aegon. 91% of people have received a cold call, the research showed. With the government delaying a
- [Retirees taking advantage of Pension Freedoms need to balance risk](https://balancewealth.uk/retirees-taking-advantage-of-pension-freedoms-need-to-balance-risk/) - More retirees are choosing to take advantage of the Pension Freedoms open to them. While it provides a greater level of flexibility, it’s a move that needs to be balanced with the associated risks. More than £2.2 billion was withdrawn from pensions during the second quarter of 2018, according to the latest HM Revenue and
- [Flexible retirement income – what are your options?](https://balancewealth.uk/flexible-retirement-income/) - As the average life expectancy increases, most of us are likely to spend 20% of our adult life in retirement. This is a very long time, especially when you consider the level of income you will need to live on. If you’re looking for a luxurious retirement, you will also need to bear in mind
- [Pension Scams: how to avoid becoming a victim](https://balancewealth.uk/pension-scams-how-to-avoid-becoming-a-victim/) - Last year, we wrote an article on the £120 pension scam, which affected thousands of people nationwide and was under investigation by the Serious Fraud Squad. Pension scams are still hitting the headlines, with a growing number of people falling victim to a variety of dangerous schemes. In this article, we provide some advice and useful
- [BHS Pension: how safe are Final Salary Pensions?](https://balancewealth.uk/bhs-pension-how-safe-are-final-salary-pensions/) - The BHS pension has hit the news again last week. Dominic Chappell, Director of Retail Acquisitions, the company that previously bought BHS for just £1, is being questioned in court after failing to provide pension scheme information to The Pensions Regulator. Dominic Chappell acquired BHS from retail billionaire Sir Philip Green, who also faced harsh
- [What should you do with your Pension Pot?](https://balancewealth.uk/what-should-you-do-with-your-pension-pot/) - If you’re winding down over the summer, this can be a great time to think about the future. What would you really love to do with your pension pot after retiring? While you’re lying on that sun lounger or dozing in the garden, think about what you enjoy doing now – this could be hobbies,
- [Court ruling gives gay couples equal rights for Pension Schemes](https://balancewealth.uk/court-ruling-gives-gay-couples-equal-rights-for-pension-schemes/) - On Wednesday 12 July, the Supreme Court ruled that pension schemes should provide equal rights to same-sex couples. This landmark ruling could cost the industry, as some pension schemes may now be facing a multi-billion pound bill to implement this change in legalisation. The new rules rely on EU Equality Laws and it is hoped
- [Worried about the £120m Pension Scam?](https://balancewealth.uk/worried-about-the-120m-pension-scam/) - The Serious Fraud Squad issued a warning last week relating to people who have invested their pension money into self-storage units. It now appears that money invested in such schemes is likely to have been lost, and an investigation has been launched. We’re not talking about physically storing money in these units (also known as
- [Cuts Announced for Defined Benefit Pensions](https://balancewealth.uk/cuts-announced-for-defined-benefit-pensions/) - This week, the Government proposed changes to the way defined benefit pensions are calculated. In short, it means if you have benefits in a defined benefit scheme, you could find your pension income on retirement is lower than you expected. The reason behind the move is to make sure that defined benefit pensions are still
- [What steps should you take when receiving an inheritance?](https://balancewealth.uk/what-steps-should-you-take-when-receiving-an-inheritance/) - Receiving an inheritance is often fraught with complex and sometimes conflicting emotions. It's a generous gift that could improve your financial security for the rest of your life. But, on the other hand, you're likely to still be grieving and decisions relating to what to do with the money may be affected by what you
- [Grandparents plan to pass on wealth: How to do it tax efficiently](https://balancewealth.uk/grandparents-plan-to-pass-on-wealth-how-to-do-it-tax-efficiently/) - Most grandparents across the country are planning to pass on their accumulated wealth to children and grandchildren when they die. But when we’re talking about grandparents being worth an average of £350,634 each (according to research by Charter Savings Bank) leaving a legacy and making gifts tax efficiently is important. And of course some grandparents
- [5 Things to Consider for Successful Estate Planning](https://balancewealth.uk/5-things-to-consider-for-successful-estate-planning/) - Many people are unsure what to consider when it comes to estate planning. The more you plan now, the better things will be for you and your loved ones in the future. There are many elements that make up your estate, so we have provided a handy 5-point checklist to ensure you have everything covered:
- [7 Ways to Use Your Inheritance](https://balancewealth.uk/7-ways-to-use-your-inheritance/) - When you inherit a sum of money, it can often lead to mixed feelings. Usually, gaining an inheritance will be due to the loss of a loved one, which is never easy. However, it’s worth remembering that the person who named you as their beneficiary would have wanted you to enjoy your inheritance. So, how
- [Our Guide to Trusts and Estate Planning](https://balancewealth.uk/our-guide-to-trusts-and-estate-planning/) - Estate planning affects everyone. If you want your children or loved ones to inherit from you, the more planning you do now, the more likely your legacy will go to the right people. A combined approach using Wills and Trusts will enable you to plan effectively for the future. In this article, we focus on
- [How to avoid falling victim to financial fraud](https://balancewealth.uk/how-to-avoid-falling-victim-to-financial-fraud/) - Financial fraud continues to pose a significant threat to UK consumers. According to UK Finance, in 2018 alone, a total of £1.2 billion was lost to scams and fraud. But it’s not all doom and gloom, innovations and advanced security systems stopped more than £1.6 billion of unauthorised fraud in the same year. Nevertheless, it
- [Could you be disinheriting a family member?](https://balancewealth.uk/could-you-be-disinheriting-a-family-member/) - Inheritance is a very complex area. Unfortunately, disinheritance can occur unknowingly for many reasons. What’s more, the probate process can be prolonged and very costly, if your estate has not been organised in the right way. Disinheritance: preventing someone from having the legal right to receive your money or property after you die. Have you
- [Investment markets - Don't panic](https://balancewealth.uk/investment-markets-dont-panic/) - What has been going on? As you will no doubt have seen, the investment markets have been back in the news over the last week. We’ve seen a familiar series of headlines of market wobbles, volatility and panic. One of the most followed market indices in the world, the US Dow Jones, recorded its biggest
- [Why is values-based investing so important?](https://balancewealth.uk/why-is-values-based-investing-so-important/) - What’s all the fuss about? Well, with the climate crisis at a critical point, and the number of values-based/ethical investing opportunities increasing, now really is the time to realign your investments to suit your personal values. In our previous blog post we looked at the environmental, social and governance (ESG) metrics used across the industry
- [Who’s values-based investing for?](https://balancewealth.uk/whos-values-based-investing-for/) - The significant increase in environmental, social and governance (ESG) orientated, values-based investing is a result of changing attitudes across society. In our previous blog post, we looked at why values-based investing is so important, both locally and globally. But now we want to delve into exactly who values-based investing is for. Where it all began
- [Looking beyond the label](https://balancewealth.uk/looking-beyond-the-label/) - Even if something looks green and shiny on the outside, it’s important to look under the bonnet to see what’s actually going on. In this post, we'll be looking at the criteria that are to be considered when thinking about values-based investing and how these metrics have become closely linked to the UN's Sustainable Development
- [Striving for a sustainable future](https://balancewealth.uk/striving-for-a-sustainable-future/) - At Balance: Wealth Planning we’ve always offered ‘ethical’ or ‘green’ investment solutions. This is an area that is gathering pace and interest with more of our clients not only asking about how they can meet their financial goals but also how they can reflect their values through their investments. Alongside this, we’re seeing greater developments
- [Once upon a plan: Thomas and Kathy](https://balancewealth.uk/once-upon-a-plan-thomas-and-kathy/) - Whether you’re already working with us or not, everyone has a different journey with money. So we want to focus on how financial planning can aid that journey – and what better way to do this than looking at some real-life case studies. This is the first article in our once upon a plan series
- [Investing a lump sum](https://balancewealth.uk/investing-a-lump-sum/) - If you have recently gone through a big life event, then you might be set to receive a lump sum. But do you know how to go about investing it effectively to ensure that you’re able to maximise it to its fullest? Perhaps you received your windfall from a divorce settlement, accident claim, or redundancy
- [General Election Result: A Conservative government & your money](https://balancewealth.uk/general-election-result-a-conservative-government-your-money/) - It appears that the country is not as divided as once thought; after a landslide win in last night’s general election result, the Conservatives have a majority of 79. But what does this actually mean for your finances? Looking at some of the promises made in the run up to the General Election 2019, we
- [Top 100 Financial Planning firm in the country for second year](https://balancewealth.uk/top-100-financial-planning-firms-in-the-country-for-second-year/) - For the second year running, Balance: Wealth Planning have been selected as one of the New Model Adviser® Top 100 Financial Planning firms in the UK. To say we’re over the moon about it would be an understatement. Celebrating ‘new model’ advisers, the publication recognises firms that are doing great things for clients, staff and the financial
- [A – Z Guide to Investments – Part 1](https://balancewealth.uk/a-z-guide-to-investments-part-1/) - Over the next couple of weeks, we’re talking investments. There’s a lot of industry jargon used by firms and in the financial papers, which you may or may not be familiar with, so we have put together an A – Z guide to understanding investment terminology. This is part one – we will post the
- [Productivity and Investments](https://balancewealth.uk/productivity-and-investments/) - In the recent Autumn Budget, the Chancellor Philip Hammond reported slow productivity, which may be cause for some to worry about what the effect would have on their UK investments. As you would expect, there have been a lot of opinions being expressed both in the media and at a political level. So, this week,
- [Breaking the Mould - Interview with Forward Ladies](https://balancewealth.uk/breaking-the-mould-interview-with-forward-ladies/) - This article has been published by Forward Ladies following an interview Rebecca Aldridge had with them. When Rebecca Aldridge, Founder and Managing Director of Balance: Wealth Planning, couldn’t find a financial planning firm that aligned with her values and career aspirations, she set out to establish her own with a difference and break the mould.
- [Pension cold call ban comes into force](https://balancewealth.uk/pension-cold-call-ban-comes-into-force/) - A new law has come into force which makes it illegal for companies to cold call about pensions. The ban on unwanted, unsolicited phone calls to people about their pensions follows an industry campaign to make the practice illegal. Companies breaking the new law could face fines of up to half a million pounds. It’s
- [Financial wellbeing for young parents](https://balancewealth.uk/financial-wellbeing-for-young-parents/) - A growing body of research is showing that more people are increasingly worried about their personal finances. Throw in the costs of raising children and the number of people, relatively speaking, that worry about money is higher. Loughborough University release data each year, which for 2018, shows that the cost of raising one child to
- [Goal setting - achieving what you want from life](https://balancewealth.uk/goal-setting-achieving-what-you-want-from-life-2/) - There’s a lot of talk these days around ‘goal setting’, but what does this really mean from a personal perspective? Setting achievable goals doesn’t just apply to business - having clear objectives on what you would like to get out of life and how to plan your future are just as relevant as commercial goals.
- [2019 Money Marketing Awards - Best Paraplanner Finalist](https://balancewealth.uk/2019-money-marketing-awards-best-paraplanner-finalist/) - We are super proud of our Paraplanning Manager, Dani Nicholls, who is a shortlisted for Best Paraplanner at this year’s Money Marketing Awards. Dani started her career in financial services in 2012 and she has played a pivotal role at Balance: Wealth Planning Limited since she started with us in May 2017. She thrives on
- [Brexit and your investment portfolio](https://balancewealth.uk/brexit-and-your-investment-portfolio/) - Brexit, and the impact it will have on all of us, is very much a hot topic at the moment. And, of course, there’s very little certainty right now as to what the final deal will be. We also don’t yet know which parts of the deal will be favourable to the UK economy and
- [Winners of the David Norton Building Excellence CISI award](https://balancewealth.uk/winners-of-the-david-norton-building-excellence-cisi-award/) - If you have not been active on Social Media in the past week, you might have missed the news that Balance: Wealth Planning Limited were the winners of the 2018 David Norton Building Excellence CISI award, a prestigious award for financial planning firms. The nationwide award is named after one of the founding members of
- [Tina Winter is a Fellow of the Personal Finance Society](https://balancewealth.uk/tina-winter-is-a-fellow-of-the-personal-finance-society/) - After three decades of working in Financial Services, accumulating advanced qualifications in pensions, tax and investment planning, Tina Winter is a Fellow of the Personal Finance Society. The fellowship is the most significant qualification in Financial Services awarded by the Chartered Insurance Institute, and achieving Fellowship status requires diligence and perseverance. It’s a huge accomplishment.
- [Financial Planning Excellence Award- Finalists](https://balancewealth.uk/financial-planning-excellence-award-finalists/) - We are very pleased to share that we have been shortlisted for the 'David Norton Building Excellence' Award for 2018. It's a national award from the Chartered Institute of Securities and Investments. It recognises financial planning firms that are building excellence as the standard. And that's what we aim to do. It's a coveted award
- [Strategic tax planning for high earners: How to avoid common mistakes](https://balancewealth.uk/strategic-tax-planning-for-high-earners-how-to-avoid-common-mistakes/) - With the start of the new tax year on April 6th, it’s essential that high earners have a tax-efficient approach to ensure wealth preservation. There are various strategic tax planning methods, such as maximising pension contributions and tax-efficient investing. Let’s look at how you can avoid certain tax traps so you can start the new

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