Climate change is top of the agenda as the Glasgow Climate Change Conference (COP 26) comes to an end. World leaders congregated to discuss how to limit emissions and develop more sustainable economies, with varying options on their success. Many people know that there are ways to live in a way that helps protect the environment such as recycling, limiting road and air travel and reducing meat consumption.
What is the state of the British stock market, and how could things transpire in 2022? Predicting the future is, of course, impossible. Yet there are trends, structural conditions and market forces at play which could indicate some likely scenarios. Below, our financial planning team at WMM discusses the UK investment outlook for the 2021-22 financial year. In so doing, we will show the importance of diversifying your investments – domestically and globally – to minimise risks to your portfolio in the years ahead.
In early November, the Bank of England (BoE) surprised traders, investors and fund managers by holding interest rates steady, at their historic low of 0.10%. Many analysts had forecast that these would rise to 0.25%, leading to high street banks raising their own rates in anticipation – making mortgage deals more expensive.
Life is unpredictable. You cannot fully anticipate what will happen in the next hour, let alone tomorrow or in the coming years. This can make life exciting and interesting; an unknown adventure to experience. Yet it also brings dangers such as crippling injury, personal loss or early death. Whilst you cannot shield yourself from tragedy, there is much you can do to lower the financial impact. In this article, our financial planning team at WMM lists some common tragedies that can afflict people and what you can do to preserve financial stability.
Those of us with children may have already faced the difficult situation where your child asks for money. Should you give it to them? If so, how much and under what conditions? Should you ask for the money to be repaid? These are difficult questions. Not only do they potentially impact a financial plan, but they can also influence your child’s character regarding money as they grow up. In this guide, our financial planning team at WMM offers some thoughts on how to be a good “Bank of Mum and Dad” in 2021. We hope you find this content useful.
What happens to your pension when you die? The rules about this were changed in 2015 under the Pension Freedoms. The good news is, your pensions are not usually considered to be part of your estate when you die – which means they are not subject to inheritance tax (IHT). Your surviving spouse or civil partner may also be able to access them, in certain circumstances. However, the rules depend on a range of factors including the type of pension in question and your age upon death. In this post, our team at WMM outlines how the rules work for different types of pension when someone dies.
Serious illness or injury can strike at any age – regardless of health – and change your life completely. We see it in the news all the time. One recent story tells of how Maria O’Neill, aged 28, was diagnosed with an aggressive form of breast cancer. 5 weeks later, her mother was diagnosed with ovarian cancer. From November, Maria’s sick pay will be halved and she will stop getting paid entirely from April 2022 – leaving her financially vulnerable, as well as sick.
Wouldn’t it be useful to know exactly when the stock market will rise and fall? Having this ability would allow us to sell at the “peak” and buy at the “trough” for each investment, allowing us to get the best returns. Unfortunately, no one has a crystal ball and it is unfeasible to predict what will happen. Given this situation, why do investors still try to “time the market”? Are there any “clues” about how the stock market might behave in the future, even if we cannot be completely certain? What does all of this mean for an investor’s strategy, going forwards?
Workplace pensions have changed in recent years. Traditionally, the responsibility was on the employee to join their workplace pension scheme. Today in 2021, however, most employees are automatically placed onto their employer’s scheme under the UK’s “auto-enrolment” rules – although you can choose to opt out. The amount that you pay in depends on your salary, since contributions are a percentage of your pay. The higher your pay, the more you automatically pay in. However, given that the rules have changed a lot over the years, many people are still not getting the most from auto-enrolment. Below, we explain some ideas showing how to do this.
The World Health Organisation (WHO) estimate that in September 2020 around 55 million people worldwide were living with dementia, and Alzheimer’s Research UK project that cases will have risen to 152 million by 2050, a rise of some 276%.