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Every year, Morningstar releases a report called “Mind the Gap,” which looks at how people invest their money and how well their investments perform. The report compares the difference in returns between investment funds and the returns earned by those investing in them. The latest report shows that investors received a 7.7% return over the
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Inspired by this post by the aptly titled humble dollar, let’s explore the behaviours that improve our finances. These are all achievable and, unlike stock picking, do not rely on insider knowledge or luck. Humility First off, embrace humility. The financial world is uncertain – from market changes to unexpected life events. Focus on what
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Next April, the state pension is set to see a significant increase. This is thanks to a robust 8.5% wage rise over the three months leading up to July. Let’s explain how the “triple lock” system operates and whether it’s here to stay. What is the triple lock? The triple lock is a mechanism that
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Inheritance Tax (IHT) is a topic that often sparks discussions about whether it should be abolished. According to a recent YouGov survey, many find it the least favourable tax. It revealed that 50% of respondents consider it ‘unfair’ or ‘very unfair’, while only 19% held the opposite view. Interestingly, there is a common misconception that
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Every investor has worried about the next market crash at some point. But worrying too much might make you miss out on making more money. People call this being safe with money or “wealth preservation”, but it might be a myth over the long term. Why would I lose money by worrying? Equities, or shares,
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In today’s digital era, the realm of investment is at your fingertips, offering a myriad of opportunities to grow your wealth. New investment ideas can be explored and executed with just a few taps. The problem is this abundance of choices doesn’t always lead to sound financial decisions. The overabundance of information and tools available
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Ensuring a steady income during retirement is a paramount concern for many. There are several strategies to address this concern, each with distinct characteristics. This post will explore three popular methods: systematic withdrawal strategies, dividend investing, and annuities. Systematic Withdrawal Strategies These strategies involve withdrawing a certain percentage of your retirement savings annually to provide
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In a world where we are constantly bombarded with new and shiny things, it can be easy to lose sight of what truly matters: determining how much is truly enough. The question of what it means to be truly rich has been pondered for centuries. From the ancient philosopher Lao Tzu to modern-day thinkers like
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For many people, ensuring that their loved ones are taken care of after their passing is a top priority. The Main Residence Nil Rate Band exempts those with assets below £1,000,000 from Inheritance Tax (IHT). However, some may find that their home attracts an IHT liability on death. If this applies to you, navigating the
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Entering the world of financial independence may seem daunting, but you’re not alone! Many have successfully navigated this path, providing us with a map to guide you. Think of it as a marathon. Maintaining a consistent pace, being patient, and staying optimistic are crucial to achieving your goal. It’s not just about running but also
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