Receiving an inheritance can be life-changing. It could provide you with the financial security to pursue your dreams or make significant changes to your lifestyle. However, it can be overwhelming, and you may worry about making the “wrong” decision that could impact the rest of your life.

According to a report in Your Mortgage, 11.6 million people in the UK have received an inheritance in the last 10 years. For more than half of beneficiaries, the inheritance was left by parents, and a fifth received an inheritance from grandparents. The...

Half of the adults in the UK don’t have a will. While you may have a reason for putting the task off, there are many compelling reasons to make time to write a will that could provide peace of mind.

A survey from Will Aid found that 49% of UK adults do not have a will in place. A fifth said their reason for putting it off was because they do not want to think about death. While contemplating passing away is difficult, it is important to think about what you’d want to happen to your estate after you die.

Even if you have a will in place, ...

You may have thought about who you’d like to benefit from your assets when you pass away and written a will to ensure your wishes are carried out. However, you may have overlooked what you’d like to happen to your pension.

As you’ll be paying into your pension over your working life, it may be one of the largest assets you own. Yet, it’s easy to forget about it when planning what you’d like to happen to your estate, especially if you’re not drawing an income from it yet. If you have a defined contribution (DC) pension, it’s essential you ...

Research suggests that millions of workers are being too cautious with their pensions. Taking too little investment risk with retirement savings could mean your pension is much lower than it could have been. It could affect your retirement lifestyle.

Pensions and investment risk

If you pay into a defined contribution (DC) pension, your money will usually be invested. This includes your own contributions, employer contributions, and tax relief. By investing your money, you’re giving it a chance to grow over your working life.

All investm...

While economies continue to recover from the effects of the pandemic, there are signs that the pace of growth is beginning to slow.

According to the Organisation for Economic Co-operation and Development (OECD), the recovery of the world’s major economies is losing momentum. The organisation said consumers remain reluctant to eat out, visit attractions, and shop like they did pre-pandemic. As a result, growth figures are expected to slow over the coming months.

Businesses around the world are also being hampered by supply and stock issue...

In the space of just 12 years, the global economy experienced two events that are considered “once in a lifetime” occurrences. As well as having an impact on economies, the 2008 financial crisis and 2020 Covid-19 pandemic are likely to have affected your finances too.

Many people will remember the impact of the 2008 financial crisis that triggered a global recession and the uncertainty it caused. From job insecurity to large falls in the markets, it had a far-reaching impact. Then, just 12 years later, the Covid-19 pandemic created uncert...

Over your child’s life, you may have built up a nest egg to give them a helping hand as they become independent. If they’re planning to go to university, you may be thinking about using these savings so they don’t need to take out a student loan, but is that the best use of the nest egg?

Taking out a student loan has become the normal way to cover tuition fees and living costs when studying for a degree. While common, the amount of debt students graduate with can seem scary. An average student will graduate with around £45,000 of student ...

The Independent reports that 76% of parents and guardians in the UK are saving money for their children under the age of 18. Helping your child step into adult life with some savings could prove vital for their mental wellbeing and financial stability and could help them further down the line.

But, of those saving, 83% do so exclusively in cash. While perhaps the easiest and simplest option, it may not be the best way to generate a nest egg for your child. In an environment of low interest rates and rising living costs, the cash you have ...

Are you thinking about relocating when you retire? If you are, you’re not alone. Millions of over-50s are planning to move away from their current home as a direct result of the pandemic. It can be an exciting way to kickstart retirement, yet there are things you need to think carefully about first.

According to Legal & General, 3 million people aged over 50, the equivalent of 12%, now plan to relocate in retirement after a year of lockdowns. Covid-19 restrictions have led to many people thinking about their priorities and plans for the f...