The pandemic and restrictions have meant many families are struggling financially or feel insecure. Research suggests that younger generations have been turning to parents and grandparents for a helping hand. However, some older family members haven’t fully considered the long-term impact that providing support could have on their own plans.

£1.9 billion gifted during the pandemic

According to Legal & General, 5.5 million older family members expect to provide additional financial support as a direct result of Covid-19 on top of the sup...

How do you rate your financial security?

When you think about your financial situation, what defines it as ‘healthy’? For 77% of Brits, financial success is having the financial freedom to do what they want without worrying, according to research from Schroders Personal Wealth. Yet, despite this, 48% of adults admit they feel stressed or overwhelmed about their financial situation at times. Taking the time to understand your financial situation and the steps you can take to improve could boost your financial health and overall wellbeing.

With interest rates low and investment markets experiencing volatility throughout 2020, you may be looking for an alternative place to put your money. Premium Bonds are an option you may be considering, but you could end up missing out on returns.

What are Premium Bonds?

Premium Bonds are a type of investment product issued by National Savings & Investment (NS&I), but they work differently to other types of investments for two key reasons:

1. The money you place in Premium Bonds is safe and fully backed by the government. This means when...

For most people, their pension becomes available at the age of 55, rising to 57 in 2028, even if they plan to work past this point. It means you can access your pension while still working, providing flexibility. However, thousands are doing so unaware that it could affect their pension contributions in the future.

Third of over 55s plan to access their pension before retirement

When you access your pension for the first time, it’s important to have a plan in place. The decisions you make now could affect your income for the rest of you...

2020 saw a lot of volatility within investment markets. While vaccine news means there is hope for battling Covid-19 in 2021, there’s still a lot of uncertainty. If you’re retired and are taking a flexible income from your pension, it’s likely your pension is invested, so it’s important to take stock of how it has been affected.

If you chose to access your pension flexibly using a Flexi-Access Drawdown scheme, your pension savings will typically remain invested throughout retirement. This gives your pension an opportunity to deliver retur...

If your estate could be liable for Inheritance Tax (IHT), gifting is one solution for passing on wealth while reducing the bill that could be appropriate for you. Our latest guide explains the basics of IHT and what you need to consider if you want to make gifting part of your long-term financial plan.

The guide covers:

• What Inheritance Tax is and when it has to be paid
• What Potentially Exempt Transfers (PET) are and how they affect IHT
• Gifting allowances that allow you to pass on wealth or assets to loved ones free from IHT
• How a c...

At some point in our lives, most of us will need to take out a mortgage if we aspire to own a home. Yet, mortgages and the process of securing one can still be filled with jargon and other complexities. Our guide aims to provide you with all the information you need when searching for a mortgage, whether as a first-time buyer or you’re hoping to move up the ladder.

In the guide you’ll find information on:

• Deposits and LTV ratios
• The different types of mortgages available
• Why interest rates are important when selecting a mortgage
• Oth...

Taking ESG (environmental, social and governance) factors into consideration is a growing trend among investors. But what does it mean and why would you look at these areas when making investment decisions?

Our latest guide explains the basics of ESG investing. According to the Investment Association, 26% of all UK assets use ESG factors in some way, though the depth varies. As a result, it’s gradually being incorporated into more investment strategies. Our guide explains:

• What ESG factors cover
• How ESG factors may be used when making...

Last month, the first children to benefit from Child Trust Funds were able to access them. So, what are they and if your child or grandchild has one, what are the options?

Child Trust Funds were introduced in April 2005 by the then Labour government. The government automatically opened a Child Trust Fund in the name of every child born between 1 September 2002 and 2 January 2011. They were introduced to encourage long-term saving for a child’s future and savings were tax-free.

To get savings started, the government made contributions at ...