Money Minder UK

News in March 2019

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This Issue...

Wealth sharing between generations

Thursday, 21 March 2019 -

Redefining how millennials become more financially secure

Millennials are set to redefine how wealth is shared between generations, according to new research[1]. Contrary to expectation, it is not millennials (aged 18–34) who appear to be under the greatest financial strain, with 44% saying they are ‘comfortable’ financially. In fact, the research shows they are trying to do the right thing.

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Emergency cash

Tuesday, 19 March 2019 -

Boosting women’s pension savings

 A million more women in their 20s could be saving adequately for retirement if they were able to access emergency cash from their pension, according to a new report[1]

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Who wants to be a millionaire?

Thursday, 14 March 2019 -

Getting there could be easier than you think – but you’ll need to start young

Parents could make their baby an adult millionaire by starting a pension pot when they are born. Children born this year could become millionaires by their 43rd birthday if their families contribute to a pension for the first 18 years of their lives[1]. The analysis found that parents or grandparents contributing £2,880 per year (£3,600 after tax relief) until their children turn 18 years old could create a pot of £1,021,837 by 2061. The figure assumes a total contribution of £51,840, a growth rate of 8% per annum, and is net of product charges.

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Plan, prepare

Thursday, 07 March 2019 -

Making new year’s tax saving resolutions

At this time of year, we think about New Year’s resolutions, and it’s also a good time to start planning our tax affairs before the end of the tax year on 5 April. As you think about 2019 and your goals for the coming year, we can help to start you off on the right financial footing. It’s well worth spending some time in January to think about your money so you can achieve your goals as quickly as possible.

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Investing for tax-free dividends

Investing for tax-free dividends

Tuesday, 05 March 2019 -

No longer the precursor to end-of-tax-year planning.

Venture Capital Trusts (VCTs) provide the opportunity for appropriate investors to support the growth of small UK businesses and receive attractive tax reliefs in return. Introduced in 1995, VCTs enable smaller companies that may find it hard to get traditional finance, such as from banks.

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Please be aware these articles are for general information purposes only and correct at time of printing. We will not accept responsibility for any errors made or actions taken by any readers that have acted on the information contained. Answers given are for guidance only and specific advice should be taken before acting on any of the suggestions made. All information is based on our understanding of current tax practices, which are subject to change. Always remember when investing, past performance is not necessarily a guide to future performance and the value of some investment units can fall as well as rise.