When people think about financial wellbeing, they often link it to frugality or building wealth. Yet, an effective financial plan isn’t always about that, sometimes, it might make sense to spend more.

It can be difficult to get your head around. After all, as a child, you’re often taught that being sensible with money means putting it in a savings account rather than spending it. Yet, this approach only focuses on growing your wealth, rather than using it in a way that helps you reach your goals.

So, here are three scenarios where your financial plan might involve increasing your outgoings.

Spending more could help you reach lifestyle goals

At the heart of your financial plan should be your lifestyle goals – how do you want to use your time and what makes you happy?

To reach these goals, you might need to spend more. Perhaps you enjoy getting creative and want to attend regular art classes, or maybe you love to attend gigs across the country so want to boost your disposable income to see more of your favourite bands.

Of course, simply increasing your spending could lead to a shortfall later in life. This is why making it part of an effective financial plan is important.

Working with a financial planner could help you assess how the decisions you make today, including spending more to reach your lifestyle goals, could affect your future income.

You might find that you’re in a position to boost your disposable income to spend more on the things you enjoy.

If spending more to reach lifestyle goals could affect your long-term security, a financial plan may help you assess where compromises might be made so you can strike the right balance between enjoying your life now and being secure in the future.

Higher outgoings now could boost your future income

There might be times when spending more money now could boost your finances in the long run.

For instance, if you’re thinking about returning to education to pursue a career change, you might need to fund the costs yourself. Or, if you’re an aspiring entrepreneur, you may choose to increase spending to get your idea off the ground.

In both of these scenarios, you might hope that the initial outgoing will lead to a higher income and greater financial security in the future.

Making this decision part of your financial plan could help you assess if it’s the right option for you and understand the potential short- and long-term implications it may have on your finances.

You want to create a legacy during your lifetime

Often, when people speak of a legacy, it’s what they’ll leave behind when they pass away, but it might also be something you do during your lifetime. Indeed, there could be benefits to creating a living legacy.

Your loved ones might have a greater need for financial support now than they will in the future. For example, a helping hand to purchase a home when they want to start a family could be more useful in terms of creating long-term financial security than an inheritance later in life.

Alternatively, you might want to leave a legacy to a charitable cause during your lifetime.

Again, a benefit is that you have the potential to see the impact your gift will have. You might choose to support the charity in other ways too, such as acting as a trustee or organising a fundraiser.

If your estate could be liable for Inheritance Tax (IHT), creating a living legacy might be one way to reduce the potential bill. As well as reducing the value of your estate through gifting, if you leave more than 10% of your entire estate to charitable causes on your death, the IHT rate your estate is liable for would fall from 40% to 36%.

When gifting to reduce IHT, it’s important to note that not all gifts are immediately outside of your estate for IHT purposes. Indeed, some may be included in calculations for up to seven years after they were gifted. If you’d like to discuss how to pass on wealth tax-efficiently, please get in touch.

Contact us to talk about your financial plan

If you’d like to create a financial plan that’s tailored to your goals and circumstances, please get in touch. We could help you balance short-term spending with long-term aspirations so you can have confidence in your future.

Please note: This blog is for general information only and does not constitute financial advice, which should be based on your individual circumstances. The information is aimed at retail clients only.

The Financial Conduct Authority does not regulate tax planning or estate planning.

Have you ever made a decision to continue with a course of action based on what you’ve already put into it? This bias, known as “sunk cost fallacy”, might mean you don’t make rational decisions and stick to a path that’s no longer right for you.

If you’ve been affected by the sunk cost fallacy, it doesn’t automatically mean you made a wrong decision. In fact, factors outside of your control could mean that what was once an excellent decision for you, no longer makes sense. However, by basing your next decision on what you’ve already done, you could hinder your ability to make the “right” choice now.

Feeling like you’ve already invested resources may mean you don’t want to turn away

The sunk cost fallacy refers to the resources you’ve lost and can’t get back. This loss might mean you’re less likely to assess alternative options, as you don’t want it to be in vain.

So, your past effort affects the decisions you’re making about the future.

The sunk cost fallacy is more likely to occur if you’ve already invested heavily in something. It doesn’t have to be a financial investment. The time you’ve poured into a project or the emotional energy you’ve dedicated to it could cloud your judgement too.

It’s often linked to other types of cognitive bias.

For example, loss aversion theory suggests you feel emotions connected with loss more keenly than those associated with winning. So, if you feel like you’ve lost resources, you might be more emotional, and less likely to focus on logic than you usually would.

Another bias sunk cost fallacy is often linked to is confirmation bias – where you seek out information that supports your preconceived idea. If you’ve already decided you want to proceed with a plan because you’ve invested in it already, you might start to prioritise data that suggests this is the right thing to do.

There are plenty of examples of the way sunk cost fallacy might affect you.

If you’re taking the lead on a project at work, you might be reluctant to change course, even if it’s clear it isn’t going to work as well as alternatives, because of the time you’ve already invested.

With your finances, you might refrain from selling an investment that no longer aligns with your financial plan because the share price has fallen recently so you feel like you’ll be “losing”.

4 useful steps that could help you avoid sunk costs affecting your decisions

1. Imagine it’s a new decision

While it’s difficult, try to look at the decision with a fresh perspective – if you hadn’t already sunk costs, how would you view the decision today?

Doing this could highlight where your past efforts might be influencing the decisions you’re making now.

2. Focus on the future

When you’re reassessing your decisions, look forward as well. For example, if you’re reviewing an investment, what are the expected returns and how much risk would you be taking? Looking forward, rather than back, could help focus your mind so you’re not dwelling on perceived losses.

3. Set goals

One effective way of avoiding the sunk cost fallacy is to set goals from the start. If you have a clear idea about what you want to achieve, you’re more likely to be able to evaluate whether sticking to a plan continues to be the right decision.

Taking an objective-based approach means you’re less likely to focus on the emotional side of decision-making, and, instead, pay attention to the expected outcomes.  Understanding how decisions might support long-term goals could mean you feel more confident when the evidence suggests a different course of action could be better suited to you.

4. Get an outside view

Sometimes it’s impossible to look at a decision you’ve made objectively, as you may be emotionally attached to it. This is where an outside perspective could be useful.

A person who isn’t thinking about the “losses” could help you see why you’re holding on to a decision that might no longer be right for you.

As a financial planner, we could act as an alternative perspective when you’re assessing financial decisions. If you’d like to talk to us, please get in touch.

Please note: This blog is for general information only and does not constitute financial advice, which should be based on your individual circumstances. The information is aimed at retail clients only.

The value of your investments (and any income from them) can go down as well as up and you may not get back the full amount you invested. Past performance is not a reliable indicator of future performance.

Investments should be considered over the longer term and should fit in with your overall attitude to risk and financial circumstances.

After Rachel Reeves’ impactful first Budget in autumn 2024, you might have been concerned about the announcements that would be included in her Spring Statement on 26 March 2025.

Reassuringly, the major headline from this year’s springtime fiscal event is that Reeves made few announcements that are likely to affect you and your personal finances directly. Although, it did reveal that none of the changes made in the Autumn Budget would be overturned. However, one significant change has been made to the High Income Child Benefit Charge, which could affect you or your family.

The chancellor did announce that, due to global uncertainty and after the economy declined in January, the Office for Budget Responsibility (OBR) has downgraded its 2025 forecast for UK growth from 2% in October 2024 to 1% as of March 2025. She also noted the OBR’s long-term forecast, indicating that growth would increase for each year remaining in this parliament.

In addition to growth figures, the chancellor’s Statement introduced a range of measures designed to increase economic activity in the UK, as well as cost-saving initiatives, predominantly at state level, to reduce government debt. 

Read on for your summary of the chancellor’s 2025 Spring Statement. 

Personal tax thresholds and allowances are set to remain unchanged 

Those who were concerned the chancellor would announce sweeping changes that might affect their personal finances will be breathing a sigh of relief as many worries didn’t materialise. 

Personal tax

Reeves stuck to a pre-Spring Statement commitment to not increase personal taxes. 

So, Income Tax thresholds and rates will remain unchanged, and thresholds are frozen until April 2028. As a result, your Income Tax liability is likely to rise in real terms. 

Similarly, the rates and thresholds for paying Capital Gains Tax (CGT) and Dividend Tax will remain the same. 

Individual Savings Accounts (ISAs) 

Before the Spring Statement, the government was reportedly considering reducing the amount you can tax-efficiently place in a Cash ISA each tax year to £4,000 in a bid to encourage greater investment.

The good news is the ISA subscription limit will remain at the current level (£20,000) in the 2025/26 tax year. The ISA subscription limit is frozen until 2030. 

The Junior ISA (JISA) allowance will remain at £9,000 in 2025/26.

However, the government did note it will continue reviewing ISA reform options to improve the balance between cash and equities to earn better returns for savers, boost the culture of retail investment, and support its growth mission.

Pensions

Last year, the government announced a new Pension Schemes Bill, which will legislate several areas of pension policy. However, further reforms weren’t announced in the Spring Statement.

The Annual Allowance will remain at £60,000 in 2025/26. Your Annual Allowance may be lower if your income exceeds certain thresholds or you have already flexibly accessed your pension.

As usual, there was also speculation that the amount you could withdraw from your pension tax-free would be reduced, but this has remained unchanged. So, when you reach the normal minimum pension age (55, rising to 57 in 2028), you may withdraw up to 25% of your pension (up to a maximum of £268,275) before paying Income Tax.

State Pension

As expected, there were no announcements relating to the State Pension or the triple lock, which guarantees the State Pension will increase every tax year by either the rate of inflation, average earnings growth, or 2.5%, whichever is higher.

As a result, the full new State Pension will pay a weekly income of £230.25 in 2025/26.

High Income Child Benefit Charge reforms will come into place this summer

Although the chancellor did not explicitly announce the change, the Spring Statement document revealed that those who pay the High Income Child Benefit Charge will be able to do so through PAYE from summer 2025.

As it stands, those who pay the charge need to register for self-assessment to do so, even if they do not otherwise need to self-assess. But this year, the government is making it easier for families to pay the charge without needing to submit a tax return.

Inflation is forecast to meet the Bank of England’s 2% target by 2027

After reaching a 40-year high of 11.1% in October 2022, inflation, as measured by the Consumer Prices Index (CPI), has gradually fallen, bringing it closer to the Bank of England’s (BoE) target of 2%. 

The chancellor announced in her Statement that in the 12 months to February 2025, inflation rose by 2.8%, down from 3% in January. Now that inflation is better under control, the BoE has cut its base rate three times since the general election, bringing the rate down from 5.25% to 4.5%. These cuts mean borrowers will likely pay less while savers may see their interest payments fall.

It was then announced that, according to the OBR’s forecast, inflation will average:

• 3.2% in 2025
• 2.1% in 2026
• 2% in 2027, 2028, and 2029 – the BoE’s target rate.

The key fiscal announcements from the 2025 Spring Statement

The chancellor’s speech largely revolved around changes to government spending and investment. Some of the key measures and announcements included in the Statement were to:

• Increase defence spending to 2.5% of GDP by 2027, including providing an additional £2.2 billion to the Ministry of Defence next year
• Rebalance payment levels in Universal Credit to incentivise people into work, and review the assessment for Personal Independence Payments, with the OBR stating these changes will save £4.8 billion from the welfare budget in 2029/30
• Crack down on promoters of tax avoidance schemes, as initially announced in the Autumn Budget in October 2024
• Invest £2 billion in social and affordable housing, so housebuilding reaches a 40-year high that helps put the government on track to reach its target of building 1.5 million homes by the end of this parliament
• Introduce a £3.25 billion Transformation Fund to streamline public services using technology and Artificial Intelligence, making the government “leaner and more efficient”. Additionally, government departments will reduce their administrative budgets by 15% by the end of the decade.

2024 Autumn Budget changes remain intact

In October 2024, the chancellor announced a series of tax-raising measures during the Autumn Budget, some of which could have affected your personal finances. These included: 

• Inheritance Tax (IHT) will be levied on unused pension benefits from April 2027.
• Agricultural Property Relief and Business Property Relief will be reduced from April 2026.
• CGT rates for non-property gains were raised in line with property rates with immediate effect, and Business Asset Disposal Relief and Investors’ Relief were both reduced.
• Employer National Insurance contributions (NICs) will rise from April 2025, from 13.8% to 15%, and the threshold at which employers start paying NICs will also fall.
• Income Tax thresholds will remain frozen until 2028.
• The IHT nil-rate bands will remain fixed for a further two years, until 2030.
• VAT was levied on fee-paying schools, effective from 1 January 2025.
• The non-dom tax regime is set to be abolished from April 2025.
• The Stamp Duty Land Tax surcharge on second home purchases rose from 3% to 5% from 31 October 2024.
• Corporation Tax is now capped at 25% for the duration of the parliament.

While many hoped the chancellor would row back on some or all of these measures, all remain intact.

Please note

All information is from the Spring Statement documents on this page.

The content of this Spring Statement summary is intended for general information purposes only. The content should not be relied upon in its entirety and shall not be deemed to be or constitute advice. 

While we believe this interpretation to be correct, it cannot be guaranteed and we cannot accept any responsibility for any action taken or refrained from being taken as a result of the information contained within this summary. Please obtain professional advice before entering into or altering any new arrangement.  

An interesting January 2025 report from Abrdn suggests culture could affect your financial decisions more than you think. Indeed, a lack of investing culture in the UK was linked to a relatively small portion of personal wealth being invested in equities when compared to other G7 nations, which could limit wealth potential.

The research looks at how your money decisions aren’t just affected by how much you have, but what country you grew up in.

For example, the study found:

• Germans placed a high importance on personal privacy, which led to a strong inclination towards cash over credit cards. At a time when many countries are embracing digital payments, around half of all payments in Germany are still made in cash.
• Japanese adults hold the largest proportion of their savings in cash. This was associated with many consumers losing money during the domestic stock market bubble collapse in the 1980s and 25 years of prices falling or stagnating, which meant savers didn’t have to worry about the value of savings falling in real terms due to inflation. 

So, what does the research tell us about the UK? A key finding is that individuals could be missing out on investment returns simply because investing isn’t part of our culture.

Only around 8% of personal wealth in the UK is held in equities

When compared to other members of the G7 – Canada, France, Germany, Italy, Japan, and the US – personal wealth in the UK has the lowest exposure to equity markets, outside of pensions, as a percentage of wealth.

In fact, only around 8% of personal wealth in the UK is held in equities. In contrast, the figure is 33% in the US.

The Abrdn research links the far higher figure in the US to a strong investing culture that dates back to the mid-20th century. A campaign called “Own Your Share of American Business” ran for almost 15 years.

The campaign encouraged the average American to take an interest in stocks and shares to support their long-term goals. It also associated investing in US businesses with patriotism as it was seen as supporting the economy. This helped ingrain a strong culture of long-term investing in the US.

By contrast, in the UK, investing campaigns have focused on single stocks and ran for only brief periods.

Interestingly, research carried out in 2018 by the Centre for Economic Policy Research (CEPR) that Abrdn cited in the report suggests that it isn’t investment risk that is holding back UK savers. Indeed, the CEPR said UK adults had an “above-average” risk tolerance to investing but this didn’t necessarily translate into holding investments.

Italians perceived investing in stocks, bonds, and funds as much riskier than UK adults. Yet, a similar number of adults in Italy and the UK are likely to hold investments. 

Rather than financial risk putting off UK savers, it could be the culture that means many overlook investment opportunities.

So, if UK adults aren’t investing, what assets do they hold?

UK savers favour cash and property over investing

Around 15% of personal wealth is in cash

According to the Abrdn report, around 15% of the wealth held by UK adults is in cash.

While cash might seem like a “safe” option, inflation may erode the value of your money.

As the cost of goods and services rises, the value of your savings in real terms can fall over time. Let’s say you deposited £10,000 into a savings account in 2020. According to the Bank of England, to maintain your spending power in January 2025, your savings would need to have grown to more than £12,400.

If the interest rate your savings earn is less than the rate of inflation, your money could be decreasing in value in real terms.

Half of personal wealth is tied up in property

Perhaps unsurprisingly given rising property prices, around half of personal wealth in the UK is tied up in property – double the amount held in the US. As property prices have increased relatively consistently over the last few decades, it may seem like a “safe bet”. 

Indeed, according to Land Registry, the average value of a UK property increased by almost £130,000 between January 2005 and January 2025. However, it isn’t guaranteed that prices will continue to rise at the same pace, and they could even fall.

One of the challenges of holding a large proportion of wealth in property is that it’s often illiquid, especially if it’s a property that you live in. If you want to access some of your property wealth it can be difficult – you might need to sell your home, take out a mortgage, or use equity release to do so.

An investment boost could support long-term goals for UK adults

A lack of investing culture could be holding back the wealth aspirations of UK adults.

While investment returns cannot be guaranteed, historically, markets have delivered above-inflation returns when you look at the figures over a long-term time frame. As a result, investing may deliver the opportunity to grow wealth in real terms and support long-term goals.

If the UK embraced investing to the same extent as the US, it could unlock up to £3.5 trillion for capital markets and potentially lead to greater financial security in the future for investors.

Of course, investing isn’t the right option for everyone, and it’s important to set out an investment strategy that suits your needs, circumstances, and tolerance to financial risk.

Contact us to talk about your investment strategy

If you’d like to talk about your investment strategy and how it might help you achieve your long-term goals, please get in touch.

Please note: This blog is for general information only and does not constitute financial advice, which should be based on your individual circumstances. The information is aimed at retail clients only.

The value of your investments (and any income from them) can go down as well as up and you may not get back the full amount you invested. Past performance is not a reliable indicator of future performance.

Investments should be considered over the longer term and should fit in with your overall attitude to risk and financial circumstances.

Reaching the minimum pension age and being able to access your retirement savings might mean new possibilities opening up. You may start thinking about giving up work, withdrawing a lump sum to pursue a goal, or using your pension to boost your regular income. 

It’s an exciting time, but it’s also important to evaluate your decisions and consider how they could affect your long-term plans. Indeed, spending too much too soon could lead to a shortfall later in life.

Usually, you can access your pension from age 55 (rising to 57 in 2028). For many people, this milestone will come before their planned retirement date.

Yet, January 2025 research from Legal & General suggests 1 in 5 people access their pension at 55.

32% of those withdrawing from their pension at 55 said it was to cover essential expenses. However, 46% simply said they did so “because they could”.

Worryingly, 27% of UK adults aged over 50 make decisions about their pension without seeking any advice or guidance. It could mean a significant proportion of those accessing their pension as soon as possible don’t fully understand the long-term implications it could have.

If you’re thinking about withdrawing money from your pension, here are three potential risks to consider first.

1. It could increase your risk of running out of money later in life

Pensions are often among the largest assets people own. So, it’s not surprising that some look at the value and believe they have enough to splurge.

Yet, it’s important to consider why you’ve saved into a pension – to create financial security once you give up work. 

If you start accessing your pension at 55, you could be at greater risk of facing a shortfall later in life as it’s likely to need to last several decades. Indeed, according to the Office for National Statistics, the average 55-year-old woman will live until they’re 87. For a man of the same age, life expectancy is 85.

Even if you don’t plan to take a regular income from your pension straightaway, withdrawing a lump sum can have a significant effect on the value of your retirement savings.

Your pension is normally invested with the aim of delivering long-term growth. Taking a lump sum could mean investment returns are lower than expected, which, in turn, may lead to a lower income when you retire.

That’s not to say you shouldn’t access your pension at 55, whether you want to use the money to travel or start reducing your working hours. However, understanding the potential long-term implications of doing so and how it might affect your retirement lifestyle is important.

2. You may face an unexpected tax bill

You can usually withdraw up to 25% of your pension without facing a tax bill, either as a lump sum or spread across multiple withdrawals.

However, if you exceed the 25% tax-free portion, your pension withdrawals may become liable for Income Tax. According to the Legal & General study, around a third of those accessing their pension at 55 are withdrawing more than 25%.

The withdrawal above the tax-free amount would be added to your other sources of income when calculating your Income Tax liability. So, you might want to consider whether it would push you into a higher tax bracket and increase your overall tax bill.

It’s also worth noting that if you receive means-tested benefits, taking a lump sum or income from your pension could affect your entitlement – something a quarter of people didn’t realise.

3. It could limit how much you can tax-efficiently save in your pension

Accessing your pension might reduce how much you can tax-efficiently contribute to your pension each tax year.

In 2024/25, the pension Annual Allowance is £60,000. This is the amount you can personally contribute while retaining tax relief benefits. However, you can only claim tax relief on up to 100% of your annual earnings.

You can normally withdraw your tax-free lump sum from your pension without affecting the Annual Allowance, but if you take a flexible income, you might trigger the Money Purchase Annual Allowance (MPAA).

The MPAA is just £10,000 in 2024/25. As a result, it can significantly reduce how much you’re able to tax-efficiently add to your pension and it might negatively affect your retirement income.

Financial planning could help you understand the effect of accessing your pension at 55

One of the challenges of understanding whether accessing your pension sooner is the right decision for you is that you often need to consider the long-term effects.

Financial planning could help you see how accessing your pension at 55 might affect your long-term finances and review other options as part of a wider financial plan. If you withdraw some of your pension now, it could help you feel more confident, or you might decide an alternative option makes more sense for you.

If you’d like to access your pension, we’re here to help you calculate the potential long-term consequences and more. Please get in touch to arrange a meeting.

Please note: This blog is for general information only and does not constitute financial advice, which should be based on your individual circumstances. The information is aimed at retail clients only.

A pension is a long-term investment not normally accessible until 55 (57 from April 2028). The fund value may fluctuate and can go down, which would have an impact on the level of pension benefits available. Past performance is not a reliable indicator of future performance.

Your pension income could also be affected by the interest rates at the time you take your benefits. The tax implications of pension withdrawals will be based on your individual circumstances, tax legislation, and regulation, which are subject to change in the future.

Handling finances is a part of life and something that most people do, but that doesn’t mean it isn’t stressful. Indeed, many people don’t feel confident making financial decisions, and financial advice could ease their mental load.

Even when you’re relatively comfortable, managing your finances can be a cause of concern. Indeed, you might find it even more stressful as you may be considering how to reduce tax liability or how to make use of allowances to pass on wealth to your loved ones.

Worries about the future are common too. You may feel confident in your ability to handle your finances now, but what would happen if you faced a financial shock? Or how will you manage your finances when you retire, and you may no longer receive a reliable income?

Fears about the future could harm your mental wellbeing and mean you don’t enjoy the things that are important to you.

While you might think of financial planning as a way to grow your wealth, the non-financial benefits are often just as valuable. Establishing a relationship with a financial planner could reduce your mental load. Read on to find out how.

A financial plan could give you confidence in the future

A survey published in IFA Magazine in January 2025 found more than half of over-55s – the equivalent of 10.5 million people – are worried their retirement savings won’t last their lifetime. Only 27% of those surveyed said they weren’t concerned about running out of money.

It’s not just retirement that can cause money worries either.

As a worker, you might worry about how you’d meet essential costs if you became too ill to work, or as a parent, you might want to set aside a financial safety net for your family in case the worst should happen.

As life is unpredictable, effectively managing your finances to ensure you’ll be secure in the future can be difficult. We can work with you to help you understand how the decisions you make now could affect your security in the future.

A cashflow model provides a way to visualise how your wealth will change over time.

You start by inputting the details of your assets now, and the actions you’re taking, such as how much you’re adding to your pension each month or the amount you plan to add to a Stocks and Shares ISA each year. In addition, you can estimate factors like investment returns.

With this data, a cashflow model can predict how the value of assets may change during your lifetime.

If you’re worried about your finances, a cashflow model can be particularly useful for calculating how financial shocks would affect you.

For example, you might use it to see how needing to retire five years earlier than expected due to ill health would affect your retirement income. Or, if you stopped non-essential outgoings, such as money into a savings account, because you’re unable to work, how that could affect long-term plans.

Understanding how your finances might be affected by these shocks could mean you’re able to take steps to secure your long-term finances. You might decide to take out appropriate financial protection or increase your pension contributions now to create a safety net and offer you peace of mind.

The outcomes of a cashflow model cannot be guaranteed, but it can provide a useful overview of how your finances might change and highlight potential gaps, which provides an opportunity to close them.

As a cashflow model relies on accurate information, regularly updating the data is important.

Working with a financial planner could enable you to focus on what’s important to you

According to a February 2025 survey from Moneybox, just a third of UK adults said they feel very confident in managing their personal finances. In fact, 64% believe they’ve missed out on financial opportunities in life due to a lack of financial knowledge and low confidence.

The financial world can seem like it’s filled with jargon, acronyms, and complexities to wrap your head around. So, it’s not surprising that many people don’t feel confident making decisions. 

By working with a financial planner, you have someone to turn to when you don’t understand something or aren’t sure what the right choice for you is. The reassurance of knowing someone is there for you could ease financial stress.

The cognitive and emotional effort to plan, anticipate, prepare, and organise your finances may create a mental load that you struggle to manage, even when you’re confident about financial matters.

So, you might choose to work with a financial planner in a way that allows you to take a hands-off approach, with them reviewing assets like your investments or pension on your behalf, with regular reviews.

Handing over these tasks might mean you’re able to focus on what’s most important to you, whether that’s spending time with your family, working your way up the career ladder, or pursuing a passion.

Contact us to talk about your financial plan

If you’d like to learn more about the benefits of financial planning and find out how we could support you, please get in touch.

Please note: This blog is for general information only and does not constitute financial advice, which should be based on your individual circumstances. The information is aimed at retail clients only.

A pension is a long-term investment not normally accessible until 55 (57 from April 2028). The fund value may fluctuate and can go down, which would have an impact on the level of pension benefits available. Past performance is not a reliable indicator of future performance.

The tax implications of pension withdrawals will be based on your individual circumstances. Thresholds, percentage rates, and tax legislation may change in subsequent Finance Acts. 

Note that financial protection plans typically have no cash in value at any time and cover will cease at the end of the term. If premiums stop, then cover will lapse.