It is a great starting point to view Savings and Investments as two separate “pots” of money. Savings for the short term, easy to access, safe and possibly there for some planned expenditure such as a holiday or house renovation, or just an emergency. Investments on the other hand should be seen over the longer term, usually for 5 years or more and be there for future needs or goals or just that Rainy Day that most of our parents warned us about!

The difference is that Investments due to their longer-term nature have assets within them that carry Investment Risk. As a result, they can provide you with greater potential growth but have the flipside of potentially giving you a loss too. Risk, volatility, and the type of return you are looking for are some of the factors that will form the type of Investment we would recommend.

Regardless of your goals or ambitions we will take the time to listen to your specific needs and importantly explain your options. Our clients are regularly Investing for themselves and their future generations as well as providing for their income needs.

Once we understand your goals, we will arrange meetings to explain your options, this will include assessing your Attitude to Investment Risk and an explanation of what that means to you, followed by our Independent recommendations once we have completed the necessary research and due diligence so that you have a clear Investment Portfolio suitable for your needs with the flexibility to weather future changes.

This of course is just the start……………….

At MSM Independent our Advisors are looking to build long term relationships with clients to help them reach their goals. This is achieved with regular reviews to ensure that you are on track and any changes are made to reflect the current economic conditions or changes in your circumstances.
As technology continues a pace, most Investment solutions can now be viewed online, and we will help take care of administration along with providing you with a transparent charging structure.

It’s really not as daunting as you may think, why not get in touch we’ll introduce ourselves and the process. 

Whether you are planning to start making contributions to a Pension or looking at your options we can help.

Pensions were introduced over time to enable you to save regularly during your working life to provide an income in your retirement. Although there is an array of different styles of Pensions, they all have the common goal of providing access to a lump sum and income, usually by taking the Tax Free Cash (Lump Sum) and then buying an Annuity (Income).

and then this happened…………………….

‘I am announcing today that we will legislate to remove all remaining tax restrictions on how pensioners have access to their pension pots. Pensioners will have complete freedom to draw down as much or as little of their pension pot as they want, anytime they want. No caps. No drawdown limits. Let me be clear. No one will have to buy an annuity.’

George Osborne, Chancellor of the Exchequer – 2014 Budget.

As a result of the above Legislation the Pensions market has changed significantly with several options available. At MSM we will take the time to listen to you and help you with your goals, finding the right solution for your circumstances.

Single Tier State Pension

Most people will be eligible for some form of State Pension. The new State Pension from the Government provides a flat-rate, single-tier pension of up to £175.20 per week (2020/21 rate). It is based on people's National Insurance records, and a minimum qualifying period applies. Currently, State Pension Age (SPA) is 66 for most people but this is set to rise to age 68 between 2044 and 2046. However, the Government has announced plans to bring this forward to between 2037 and 2039.

You can check your entitlement at: https://www.gov.uk/check-state-pension

Pension and Retirement Planning advice is vital to be able to achieve your needs once you are no longer working. Surely its better to make an informed decision rather than guessing. Our Advisors are specialist in Retirement Planning and once informed of your goals will help you choose the right solution for you. 

Whilst not at the forefront of everyone’s mind when they are considering Financial Planning, Inheritance Tax or IHT for short can be a heavy tax burden paid by loved ones and beneficiaries when you have died.

For the past three years HMRC have recovered over £5bn per year. So this makes IHT Planning a sensible addition to your overall plans. Inheritance Tax can be a complex area but with careful planning within the tax laws we can make sure you can maximise the IHT mitigation rules to limited where possible the burden on your estate.

The Basics

When someone dies and has an estate in excess of the Nil Rate Band (2020/21 tax year the allowance for the Nil Rate Band is £325,000 per person). Amounts in excess of this are taxable at 40%. There are other allowances to take into consideration such as the Residence Nil Rate Band which can reduce the burden too.
To help with this we will look at and advise upon some of the following strategies that may help you reduce your liability for Inheritance Tax.

Wills
A fundamental part of estate planning is having a properly draw up will. If you die without a will in place the laws of intestacy rule and your assets my not go to those that you wish. In fact worse they may go to those that you would not wish to benefit! A will is a legal document that ensures your wishes are adhered too.

Exemptions
There are some exceptions that we can consider for your estate planning that you can use to reduce the value of your estate and therefore potential liability for Inheritance Tax. The best solution or solutions are likely to vary depending upon your circumstances. As part of your overall planning we can include:

• Gifting
• Trusts
• Life Assurance