One of the most frequently overlooked aspects of financial planning is income protection insurance. While it is easy to focus on immediate needs and short-term financial goals, planning for potential future hurdles can
In the last five years, an incredible £1.3 billion of pension tax relief has gone unclaimed in the UK – with higher and additional-rate taxpayers losing out on incredible sums according to some
In June, the Bank of England (BoE) decided to raise the base rate for the thirteenth consecutive time to five per cent. A higher base rate has been introduced to combat inflation, which
When it comes to retirement planning, one group that often finds itself at a disadvantage is the self-employed. Unlike their counterparts in traditional employment, self-employed individuals face unique challenges in setting up adequate
The level of risk you are willing to take on when saving and investing can have a significant impact on the returns you achieve. While common sense would suggest that challenging periods, such
New research by fund managers has shown that up to £233 billion of savings are currently held in zero-interest bank accounts. In previous years, the historically low-interest rates brought on by the Bank
Earlier this year, the Government extended the final date to top up your National Insurance (NI) record for tax years 2006 to 2016 to ensure you received the full state pension. Previously slated
Any sustainable retirement plan should have redundancies built into it. That is why many savers choose to not only invest money into their pension but also property as well. Recent research shows that
We believe more planning is needed. In 2019, a report by the Pensions and Lifetime Savings Association (PLSA) disclosed that couples may need to save up to £1 million during their life to
While debt is often seen in negative terms there can be times in life when it is not only a necessity but can lead to a better financial position. That is if is
A pension is a long term investment. The fund value may fluctuate and can go down, which would have an impact on the level of pension benefits available. Pension income could also be affected by interest rates at the time benefits are taken.
Pension savings are at risk of being eroded by inflation.
The tax treatment of pensions in general and tax implications of pension withdrawals will be based on individual circumstances, tax legislation and regulation, which are subject to change in the future.
Accessing pension benefits early may impact on levels of retirement income and your entitlement to certain means tested benefits.
Accessing pension benefits is not suitable for everyone. You should seek advice to understand your options at retirement.
Lamont Pridmore Asset & Wealth Management is the trading name of Lamont Pridmore Asset & Wealth Management Limited. Registered in England no: 08395896. Registered address: Milburn House, 3 Oxford Street, Workington, Cumbria, CA14 2AL.
Lamont Pridmore Asset & Wealth Management Ltd is authorised and regulated by the Financial Conduct Authority. We are entered on the Financial Services Register no 599259 – www.fca.org.uk/register
The Financial Conduct Authority does not regulate accountancy, taxation and trust advice, will writing, legal services, business services and some aspects of commercial mortgages.
The guidance and/or advice contained within this website is subject to the UK regulatory regime and is therefore primarily targeted at customers in the UK.
Please note that the value of investments can fall as well as rise and you may get back less than you invested.
