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4 times you might want to review your financial plan - The Orchard Practice
Life is often unexpected, and your financial plan should be updated to reflect changes to your circumstances or goals to ensure it continues to suit your needs. Read about four reasons why you might want to schedule an extra financial review.
The power of visualising your wealth: From cloth to cashflow modelling - The Orchard Practice
Visualising wealth could improve your financial decisions and provide reassurance that you’re on track to reach goals. It’s something that people have been doing for centuries and today you can use powerful cashflow planning tools to see a representation of your wealth and how it might change.
3 scams you need to be aware of when buying property - The Orchard Practice
When you’re buying property, there’s a lot to think about, and it could mean you’re more likely to overlook the warning signs of a scam. Discover three types of property scams you need to be aware of and how to reduce the risk of falling victim to them.
5 powerful Warren Buffett lessons that could benefit ordinary investors - The Orchard Practice
Legendary investor Warren Buffett has announced he’s retiring after more than five decades leading successful holding company Berkshire Hathaway. While Buffett has access to a huge number of resources, many of his insights are beneficial for ordinary investors, including the value of focusing on the long term.
The age you can access your pension may rise. Could it affect your retirement? - The Orchard Practice
The “normal minimum pension age” is rising from 55 to 57 in April 2028. It could mean you’re unable to access your pension savings on your planned retirement date. Find out what you need to know and the steps you could take to keep your retirement plan on track.
How to prepare your loved ones for the “great wealth transfer” - The Orchard Practice
It’s estimated that globally more than £13 trillion will be transferred between generations by 2030. The “great wealth transfer” could provide your family with opportunities and financial security. However, with research suggesting 70% of affluent families lose their wealth within a generation, you may want to look beyond assets when creating a plan.
Why you don’t need to experience a financial shock to benefit from a safety net - The Orchard Practice
A financial safety net can be incredibly valuable when you face an unexpected event. However, the wellbeing benefits can go beyond that by offering you peace of mind even when your plans are on track.
Financial protection: 3 useful questions to help you calculate appropriate cover - The Orchard Practice
Financial protection could help you overcome an unexpected shock. However, it’s essential that the level of cover you choose is right for your circumstances. Discover three key questions that could help you calculate what’s right for you.
How technology could be harming your investment decisions - The Orchard Practice
While technology has made it easier than ever to invest, it could harm your decision-making skills too. From connecting you to a 24/7 news cycle that could provoke emotional responses to allowing you to make knee-jerk decisions easily, using technology has the potential to harm your investment outcomes.
Should you choose a Cash or Stocks and Shares Junior ISA for your child? - The Orchard Practice
A Junior ISA (JISA) can provide an effective way to build a nest egg for your child. One important question for parents to consider is whether to save or invest using a JISA. Find out what you need to know about Cash and Stocks and Shares JISAs, and read questions that could help you decide which option is right for your needs.
Why defining “financial freedom” could help you achieve it - The Orchard Practice
Many people want to achieve “financial freedom”, but it can mean different things to each person and is influenced by other lifestyle goals. So, defining what it means for you could help you create a tailored financial plan that turns it into a reality.
Key financial planning challenges couples face and how we could solve them - The Orchard Practice
When you’re creating a financial plan as a couple, you might encounter some challenges, such as difficulty talking about money or conflicting goals. Working with a financial planner could help you navigate these obstacles to get the most out of your joint assets.
5 shrewd ways to avoid paying tax on your savings - The Orchard Practice
Did you know the interest your savings earn could be taxed? As tax thresholds are frozen and interest rates are rising, more savers are set to be hit by an unexpected tax bill. Find out when your savings could be taxed and how you might reduce your liability.
Essential estate planning steps that could protect young family members - The Orchard Practice
Creating an estate plan can be difficult in any circumstances, but it might be particularly challenging if you have a young family member to consider. If you do, naming a guardian in your will and using a trust to pass on assets to them could be valuable.
The compounding effect: How it could boost or harm your finances - The Orchard Practice
Once described as the “eighth wonder of the world”, compounding could be key to building wealth and reaching your lifestyle goals. However, if you don’t understand how it works, it might be a missed opportunity or even harm your finances. Read this insightful guide to find out why you need to know what compounding is.
Financial protection: The key options that could protect your lifestyle and family - The Orchard Practice
Several types of financial protection might provide a valuable safety net for you and your family if you experience an unexpected event. Read about the key options you might want to weigh up that could offer you peace of mind.
How to use an unexpected windfall to create long-term prosperity - The Orchard Practice
If you receive a windfall, there could be ways to use it to improve your long-term financial security and support aspirations. Discover practical steps that could help you decide how to use a bonus, inheritance, or other unexpected financial boost.
Majority of parents worry about critical illnesses. Here’s how financial protection could help - The Orchard Practice
Two-thirds of parents are worried about how a critical illness in their family could affect them, including their finances. Taking out appropriate financial protection could provide a safety net should it happen, and allow families to focus on recovery and spending time together.
How much do you need to be “wealthy”? - The Orchard Practice
According to a survey, you need an annual income of £213,000 to be considered “wealthy”. While financial abundance is often associated with wealth, other factors might contribute to a rich life too, so redefining how you think about wealth could be valuable.
Half of adults reconsidering their retirement plans ahead of 2027 Inheritance Tax changes - The Orchard Practice
From April 2027, pensions will likely be included in estates when calculating Inheritance Tax liability. The potential upcoming change has led to more than half of UK adults planning to adjust their retirement or estate plan. If you’re concerned, there are options, but it’s important to take the time to understand the potential implications.
Why an effective financial plan might involve spending more - The Orchard Practice
You might associate a financial plan with being more frugal. Yet, there are times when spending more could make sense, especially if it supports your goals and wellbeing. Find out why your financial plan could encourage you to increase your outgoings.
5 strategies that could help you avoid running out of money in retirement - The Orchard Practice
The fear of running out of money in retirement might mean you hold back plans and can’t fully enjoy this stage of your life. Read about five strategies that you might use as part of your retirement plan to reduce the risk of spending too much too soon and achieve peace of mind.
4 reasons to remain calm amid market volatility and uncertainty - The Orchard Practice
Global uncertainty means your investments and the wider market may be experiencing more volatility than usual. While it might be difficult to do so, remaining calm and focusing on your investment strategy is often a long-term approach that makes financial sense.
How financial planning could help you overcome decision paralysis - The Orchard Practice
Around half of adults in the UK have delayed important tasks because they feel overwhelmed. Whether you’re putting off making decisions because there’s too much information to process or you’re worried about making the “right” choice tailored financial planning could help.
Why ongoing financial advice could ease your mental load - The Orchard Practice
Even if you feel comfortable managing your finances, sometimes the mental load of doing so could mean you don’t enjoy the things that are important to you. Working with a financial planner could help put your mind at ease.
Average Brit takes risk by delaying life insurance decision by 10 months - The Orchard Practice
The average Brit takes 10 months to choose life insurance. Yet, it could leave their family exposed to financial hardship if the worst should happen. Discover why you should make reviewing life insurance options a priority.
How to practice mindfulness when managing your money - The Orchard Practice
The Japanese art of “kakeibo”, which roughly translates to “household financial ledger”, could help you practice mindfulness when you’re making financial decisions and highlight ways you may use your money to improve your wellbeing.
Behavioural bias: 5 cognitive biases that could affect your finances - The Orchard Practice
Sometimes processing errors called “cognitive biases” could affect how you view and use information. When you’re making financial decisions, these could lead to outcomes that aren’t right for you. Discover how five common cognitive biases might affect you.
Behavioural finance: The effect emotions could have on your financial decisions - The Orchard Practice
Emotions can affect how you perceive a situation and might influence the financial decisions you make too. One simple step you might take to reduce how emotions affect your investments and other areas of your finances is to give yourself time before making a decision.
How to stop following the investment crowd and stick to your strategy - The Orchard Practice
Being part of a crowd can be comforting. However, following trends when you’re investing could lead to decisions that aren’t right for your goals and circumstances. Find out why standing out could be a good thing.
How “snowballing” your investments could boost your long-term returns - The Orchard Practice
“Snowballing” your investments could help your money grow faster over a long-term time frame. By leaving returns to be invested, they have the potential to generate additional returns thanks to the compounding effect.
Is your estate worth more than £2 million? Your Inheritance Tax liability could be higher than you expect - The Orchard Practice
If the value of your estate is more than £2 million when you pass away, the threshold for paying Inheritance Tax (IHT) could be lower than you think. It might leave your loved ones with a larger tax bill than you expect. Find out what you need to know about IHT thresholds.
5 ways financial planning could help you emotionally prepare for retirement - The Orchard Practice
While financial challenges often come up when talking to people nearing retirement, the emotional obstacles could be just as important. Fortunately, a tailored financial plan could help you feel confident and excited for the next chapter of your life.