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When you retire you still need food and shelter as an absolute minimum, but of course you will want to maintain the lifestyle to which you have become accustomed, so unless you can guarantee a large windfall, you need to provide yourself with a secure income for the rest of your life.
A well prepared pension plan which is regularly reviewed should go some way to providing this.
Wealth, just like your health, must be carefully preserved. Your assets need to be protected against the potential threats of erosion by taxation, the effects of inflation & investment risks.
Whatever your level of wealth, there is nothing wrong in deciding to prepare a risk aversion strategy. This is reasonable and prudent for anyone who is sure that they already have ample to provide for themselves and their family into the future.
We all have goals, dreams, ambitions for the future, for ourselves and our families, but the real question is; how do we achieve them?
Professional Retirement Planning is the process which can help you realise your ambitions - whatever they may be. As professional financial advisers we can help you make informed decisions about your financial future by setting short, medium and long term goals.
The main purpose of Life Assurance is to provide money for those people who may depend on you financially, in the event that something should happen to you. These people could include family members or business partners.
It can provide the reassurance of financial protection for you, your family and your business associates.
If you're over the age of 55, equity release offers you a way to use the value of your home to raise money.
There is a range of equity release schemes available on the market offered by reputable equity release providers, and they fall into two main categories, Lifetime Mortgages and Home Reversion Plans.
Professional Financial Planning is the process which aims to help you realise your ambitions. As professional financial advisers we can help you make informed decisions about your financial future, short, medium and long term.
You will almost certainly have plans of some kind - buying a home, starting a family, living abroad, perhaps retiring, but such ambitions have financial implications ...
When someone talks about savings and saving money, it could be referring to a piggy bank or a high interest deposit account. Savings are effectively cash or cash instruments, such as deposit accounts, term bonds etc.
Investing is what you can do with the savings you have - if you are looking to generate a greater return on your money than is available to you through your savings instruments.
Most of us face being taxed on our income, our capital gains, and in some circumstances the value of our estate when we die.
Taxation can be very complicated and the rules, reliefs and allowances often change, so it is worth obtaining a clear grasp of how these taxes work by discussing with a professional adviser the most efficient way to arrange your finances. An expert will be able to help you plan your taxes in advance ...
REFERENDUM ON THE UK’S MEMBERSHIP OF THE EU
The Brexit process started on 20 February 2016 when then Prime Minister David Cameron called a referendum on the UK’s membership of the EU. The news saw a decline in the value of sterling, although stock markets experienced a more muted reaction. External events, such as worries over China’s economy, were also affecting markets in early 2016. A similar pattern was repeated on 24 June 2016, the morning after the referendum, when it was confirmed that the Leave campaign had won the day. Again, sterling moved lower but stock markets were less affected than many had anticipated. In part, the resilience of the UK stock market was due to investor appetite for international stocks with foreign – particularly US dollar – earnings.
WHAT COULD BREXIT MEANFOR UK INVESTORS?
The implications of Brexit and its impact on markets is a significant investment planning challenge over the coming years for all investors. Brexit is overshadowing all other investment planning issues and highlighting the need for solutions which can provide protection and the possibility of strong returns. So the road to Brexit has reached another milestone, but what could it mean for UK investors? Planning the future of our finances is never easy, and the slow but ongoing global recovery combined with the unknown from Brexit, makes this even more challenging. The Brexit referendum in June last year was widely expected to have an immediate negative effect. The Bank of England cut interest rates in half to protect the economy – but events did not unfold as predicted.
BRITAIN’S ECONOMY HAS DEFIED EXPECTATIONS
Some experts predicted markets would collapse along with the pound. But Britain’s economy has defied expectations, and subsequently the UK stock market surged ahead with both the FTSE100 and FTSE250 showing record highs, and the UK’s economy growing stronger than most developed economies since last summer’s referendum. Sterling will remain a key instrument to watch over the near term, as movements in currency will continue to impact the extent of the wider market response. Political events in the United States and Europe have added an additional twist to the outlook for major global currencies.
STERLING CORRECTION MIGHT HAVE BEEN EXPECTED
The performance of sterling has demonstrated just how predictions can be flawed. It is true that it has weakened, but a falling pound has made UK exports much more attractive to the rest of the world. Prior to the referendum, sterling had risen to a level that some experts believed was unsustainable. Even without the Brexit vote, a correction might have been expected. Current UK interest rates restrict its appeal relative to other currencies, especially the dollar, as the US has already begun increasing its own central rate. A low-value pound could therefore continue, with UK exports and the FTSE showing the benefits.
IF BREXIT ANXIETY BECOMES A REAL CONCERN
With the growth of the UK economy continuing, the UK interest rate could also be ready for an increase. Some consider this will not happen until next year. Even if there is strong economic growth, the Bank of England could leave rates alone if Brexit anxiety becomes a real concern. Savings rates fell to record lows in the wake of the Brexit vote, helped on their way by the Bank Rate decision in August 2016. Again, the triggering of Article 50 is unlikely to make much difference. Savings rates may already be on the way back up, although even the best performers are still struggling to beat inflation.
AMERICAN ECONOMY MAY HAVE A MORE SIGNIFICANT EFFECT
Savings rates do not move as rapidly as stock markets, so they are unlikely to respond until concrete facts emerge about the eventual deal. Other factors, such as the success or otherwise of the American economy under President Trump, may have a more significant effect. In the short term, Brexit is unlikely to have a significant impact on the legal and regulatory framework for UK pension plans. It does, however, open the door for UK legislation to deviate from EU requirements in the future.
DIVERSIFICATION WILL HELP PROTECT INVESTMENTS
Looking towards the future, diversification will help protect investments from the full impact of market volatility, but it’s important that investors don’t over-worry about disruptive events or financial crises that are unlikely to happen and play it too safe in their asset allocation. With the pound falling against other currencies, it means that overseas investments produce an additional benefit when they are converted into sterling. People who feel pessimistic about the UK economy or their own personal finances are more likely to plan to save more over the next 12 months to ensure they have a financial safety net, according to a Zurich survey[1].
HOW PEOPLE FEEL ABOUT THE ECONOMY
The findings suggest that current affairs have a significant impact on how people feel about the economy, with the two sides of the Brexit argument currently feeling very different about the future. Six in ten (60%) remain voters said they felt pessimistic about the economic outlook of the UK compared to just over one in five (22%) of those who chose to leave. This negative attitude is also having an effect on how people view their own finances and how they plan to save. When asked about their personal financial situation, 32% of remain voters feel pessimistic compared to 27% of leave voters.
YOUNGER PEOPLE MORE LIKELY TO FEEL PESSIMISTIC
Over a quarter (26%) of remain voters expect to save more money in the coming year. Meanwhile, less than one in five (19%) leave voters said they planned to save more, while 27% expect to save less in the next year. Further to this, younger people appear more likely to feel pessimistic about the economy and therefore intend to increase their savings. As such, just under half (49%) of 18 to 24-year-olds say that they are aiming to save more money in the next 12 months, compared to just 13% of 50 to 64-year-olds.
Source data:[1] Zurich UK survey of over 4,000 adults across the UK, 24 March 2017
INFORMATION IS BASED ON OUR CURRENT UNDERSTANDING OF TAXATION LEGISLATION AND REGULATIONS. ANY LEVELS AND BASES OF, AND RELIEFS FROM, TAXATION ARE SUBJECT TO CHANGE. THE VALUE OF INVESTMENTS AND INCOME FROM THEM MAY GO DOWN. YOU MAY NOT GET BACK THE ORIGINAL AMOUNT INVESTED. PAST PERFORMANCE IS NOT A RELIABLE INDICATOR OF FUTURE PERFORMANCE.
Read lessCurrencies
Value | Move | % |
GBP/EUR | ||
1.1498 | +0.0047 ![]() |
+0.41% ![]() |
GBP/NOK | ||
11.1239 | +0.0227 ![]() |
+0.2% ![]() |
GBP/SEK | ||
12.0216 | +0.0931 ![]() |
+0.78% ![]() |
GBP/USD | ||
1.3925 | -0.0007 ![]() |
-0.05% ![]() |
Stocks
Value | Move | % |
FTSE 100 | ||
7417.5200 | +38.2002 ![]() |
+0.52% ![]() |
FTSE 250 | ||
20131.0801 | +112 ![]() |
+0.56% ![]() |
FTSE 350 | ||
4131.3101 | +21.3999 ![]() |
+0.52% ![]() |
FTSE All Shares | ||
4081.0400 | +21.1301 ![]() |
+0.52% ![]() |
Dow Jones | ||
24083.8301 | +13.6309 ![]() |
+0.06% ![]() |
Nasdaq | ||
7106.6157 | +26.1284 ![]() |
+0.37% ![]() |
THE GUIDANCE PROVIDED WITHIN THIS WEBSITE IS SUBJECT TO THE UK REGULATORY REGIME AND IS THEREFORE PRIMARILY TARGETED AT CONSUMERS BASED IN THE UK.
DERBYSHIRE BOOTH FINANCIAL MANAGEMENT LTD IS AN APPOINTED REPRESENTATIVE OF TENETCONNECT LTD WHICH IS AUTHORISED AND REGULATED BY THE FINANCIAL CONDUCT AUTHORITY. TENETCONNECT LTD IS ENTERED ON THE FINANCIAL SERVICES REGISTER (www.fca.org.uk/register) UNDER REFERENCE 149826.
REGISTERED ADDRESS AS COMPANY ADDRESS
REGISTERED IN ENGLAND & WALES UNDER REFERENCE: 04772990
Client Testimonials
...We really did make a good decision choosing yourselves. A truly first class service....
...I found Greg's help and expertise in reviewing my own affairs to be invaluable...
...If you are looking for the sincere personal touch to help your finances grow Greg and his team are the people you need to see.
We just wanted to thank you for helping us achieve our dream. We'll recommend your services to any of our friends who need financial expertise and will be in touch again if we win the lottery!
Just a line to say thankyou for the help and advice that you gave me, and the unexpected cheque for £100. All the best.
Greg fully explained my pension options, and found the best annuity for me. I am most grateful.
Excellent service, combined with sound advice, well explained options.
without Derbyshire Booth’s help I couldn’t have managed at all. I can’t thank Greg enough.
I found the advice and help given to me was excellent with regard to my pension. Greg and his staff were very kind and welcoming. All my questions were answered. I am very satisfied with the service given.
If you're looking for someone to give you an answer, Greg is your man. I have not come across an IFA with a better breadth of knowledge in the field of finance. He is a regular contributor to the Lancashire Evening Post.
Your listening ear re my pension requirements and your careful evaluation of the investment products available resulted in a timely transfer of my existing pensions into the consolidated scheme and an excellent on-line tracker.
Derbyshire Booth have delivered well and exceeded my expectations, I shall recommend your services to family and friends.
My Brother and I are extremely grateful for all the advice and help over the last few months.......We are grateful for all the work you have done and for securing the funds from AXA. Thank you again for your excellent service.
Very professional diligent, responsive with attention to detail which is not too common with many companies. I would therefore have no reservations in recommending Derbyshire Booth Financial Management Ltd.
Greg Heath acted in a friendly professional manner and had empathy with my situation. I am very happy with the outcome and wouldn’t hesitate to recommend him to others.
Greg regularly provides topical, financial advice columns for my magazine Leyland Leader. He is a thorough professional, expert in his field, articulate, humorous and creative. Always a pleasure to deal with.
Derbyshire Booth provided a professional service, tailored to my needs. Options were clearly explained and I can highly recommend them.
I would like to thank you all for your expert professional guidance through what to us was a pension minefield. Without your advice and assistance we would still be looking at a pile of papers not knowing what they meant or what to do with them! Once again thank you for your time and patience.
Greg had the ability to explain issues to me clearly and concisely, and when I retired attained the best annuity available for me.
I would have absolutely no hesitation in recommending the services of Derbyshire Booth as a truly independent IFA and indeed I have done so on numerous occasions with family and friends who were seeking guidance in this area. In my experience, Greg rigorously analyses individual circumstances and subsequently offers expert and considered advice in a way that can be clearly understood. A pleasure to deal with.
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Derbyshire Booth Financial Management Ltd
Cornerways
1 Yewlands Drive
Preston
Lancashire
PR25 2TN
T: 01772 422 004
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