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Aurora Financial Planning
Aurora Financial Planning

0121 429 7100

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Archive for May, 2018

This time next year we’ll be ‘million-heirs’

Larger individual wealth and expectation of substantial inheritances With estate planning, you can decide what happens to your money and possessions – even your pets – if something happens to you. But estate planning is useful in other ways too: it can help you minimise any Inheritance Tax liability and ensure your wishes are carried […]

Retirement rewards

Common planning mistakes lead to an opaque future With increasing life expectancy and rising cost of living, the need to plan for one’s golden years is essential. Although retirement is one of the most distant financial goals, it is in our own interest not to ignore it. And almost three quarters (73%) of people aged […]

Planning for a bigger retirement income

Looking forward to having more time to explore faraway places Today, with more Britons living longer and healthier lives, the concept of retirement is much different to what it was only one generation ago. For each retiree, retirement is different. Perhaps you’re looking forward to having more time to explore faraway places, or maybe you […]

Easing into retirement

Older workers are increasingly valuable members of the gig workforce We tend to associate young people with the gig economy, but new research shows that older, more skilled workers are increasingly making the move. The gig economy has been enthusiastically embraced by millennials who favour the flexibility it offers, although it appears that it is […]

One in eight will retire with no pension in 2018

Excuses to avoid facing the difficult work of saving for retirement Retirement is one of our biggest financial challenges. As with any daunting challenges we face, we tend to think up excuses so we can avoid facing the difficult work of saving for retirement. Worryingly, nearly one in eight people retiring this year (12%) have […]

Is inflation back? Don’t panic

How to protect the value of your money from its effects Is inflation back? After two years when consumer prices in the UK barely rose, the annual rate of inflation has risen above the Bank of England’s (BOE) target of 2% in 2017. The combination of high inflation and limited wage growth – as well […]

Pension freedoms

Accessing your entire pension flexibly How your future looks will ultimately be determined by having the right vehicle in place for your retirement. As you approach retirement and start thinking about when and how to take your money, it’s a good idea to check what pensions you have and what they might give you. The […]

Tax relief and pensions

Annual and lifetime limits When it comes to managing money, one of the things some people find most difficult to understand is the tax relief they receive on payments into their pension. Tax relief means some of your money that would have gone to the Government as tax goes into your pension instead. You can […]

Pension lifetime allowance

Putting a value on your pension savings in the future The pension lifetime allowance is a limit on the value of payouts from your pension schemes – whether lump sums or retirement income – that can be made without triggering an extra tax charge.

State Pension

New changeover arrangements designed to be simpler than the old system The State Pension changed on 6 April 2016. If you reached State Pension age on or after that date, you’ll get the new State Pension under the new rules. The new State Pension is designed to be simpler than the old system, but there […]