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Call Richard Cook: 07770 575 122

email: richard@theinvestmentandretirementcoach.co.uk

Retirement planning

Worry is not a good financial strategy

Worry is not a good financial strategy.

With rampant inflation, the Ukrainian war, rising interest rates, and political uncertainty, it is perhaps not surprising that many of us are worrying. It may seem that worrying helps but that is rarely the case. When I was running my previous business there was plenty to be worried about and I would ask my business […]

Pension Planning

Just how dangerous is starting to withdraw from your pension plan without taking advice/guidance?

A recent report confirmed that four out of ten products bought to support withdrawals from pension funds were purchased without professional advice (FCA product sales data). It is inevitable that without advice and guidance many people will make decisions they will live to regret with severe consequences for their ongoing lifestyles. If you do nothing […]

Tax planning for the financial year-end

With only four weeks to go before the end of the tax year, I thought it would be useful to let you have some year-end tax planning thoughts.   Pension planning If you are over 50 and a higher rate tax-payer either with invested capital or an excess of income over expenditure making a one-off […]

Will inflation destroy your retirement income?

Well perhaps not destroy, but unless you are in the fortunate position of having an index-linked pension from a final salary pension scheme a return to higher inflation could significantly reduce your spending power over the years ahead. UK CPI rose to 2.5% in June with the USA’S inflation figures even higher at 5.4%. Only […]

Who do you trust with your financial planning?

Let’s get one thing clear, it’s your money and your future. No one will take as much interest in it and pay it as much attention as you. So where do you start? If you don’t know what you expect or want your retirement to look like how can you expect anyone to get you […]

Dividend payments recovering well.

This is good news particularly for clients in retirement (drawdown) who have chosen to listen to my guidance and whose primary investment strategy is to invest in dividend-focused funds to support all, or a significant part of, their income withdrawals. One of the early consequences of the pandemic was the cancellation or reduction of dividends […]

SPECIAL REPORT. CLOSURE OF FINAL SALARY PENSION SCHEMES.

According to the Pension Regulator, only 1,013 of the UK’s 6,400 final salary pension schemes remain fully open. That is 200 less than last year with the number decreasing month by month. Companies are closing the schemes even to existing members (many closed to new entrants years ago) because they are expensive to run with […]

Higher rate pensions tax relief survives the budget- but for how long?

In a pre-budget announcement MPs called on the Government to overhaul the “entire approach to pension tax relief”. They are concerned that the current system unfairly incentivises higher rate taxpayers. They say:- “Now is surely the time to address the imbalance of benefits and tax breaks available to the wealthy, whilst ensuring the poorer pensioners […]

Wipe out your entire tax liability for 2020/2021? Find out if you qualify.

Let’s cut straight to the chase. This is not for everyone. It is only worth exploring further if you can answer “YES” to ALL of the following questions: Do you pay higher rate tax on earned income? Are you age 50 or over? Do you already have medium-term investments/savings? Do you expect to revert to […]

Quarter of women waive pension rights on divorce

That is just not right – but what can be done about it? Divorce is such an emotional time and people have so much to think about that they just can’t focus on pensions or for that matter other financial issues. Legal advice is already expensive and adding financial adviser fees to the mix is […]

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