You may be on the brink of retirement or already well into the next chapter of your life. Whatever your circumstances, knowing how to make the best financial plans for your future or indeed preparing the ground for the next generation is hugely important. Whether it be concerns over the financial strength of a particular organisation, changes in legislation or selecting the right investment manager; financial planning soon becomes a minefield and difficult to manage on one’s own.
Clearly many of the external factors, such as inflation and taxation are out of your control but there is a surprising amount that can be done to make improvements to your personal financial arrangement and ultimately meet your long term objectives. This can be achieved particularly by maximising the tax planning opportunities available to you and your potential heirs.
Listed below are some of the most commonly asked questions by our clients, which may in turn relate to your own circumstances.
Q. How can I increase the amount of income from my capital when interest rates may remain relatively low for some time?
Q. My level of income is no longer reliable or indeed consistent. What can be done to provide a consistent and tax efficient income?
Q. Knowing who to invest with and when, seems a lottery. How can you reduce the risk of poor investment performance?
Q. I have several different pensions but don’t know if I should buy an annuity or take income drawdown?
Q. I have surplus capital that I may need in the event of long term care? What should I do if I want to minimise Inheritance Tax at the same time?
Q. I want to gift money to the grandchildren each year for their future education but they are too young to have investments in their own name. What should I be looking for?
Q. I am in poor health and may not survive the next 7 years. What alternative is there to gifting?
The value of an investment with St. James's Place will be directly linked to the performance of the funds you select and the value can therefore go down as well as up. You may get back less than you invested.
An investment in equities does not provide the security of capital associated with a deposit account with a bank or building society, as the value & income may fall as well as rise.
The levels and bases of taxation, and reliefs from taxation, can change at any time. The value of any tax relief depends on individual circumstances.