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November – December 2023 Newsletter

November – December 2023 Newsletter

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In this issue, as you sail into your 50s, it becomes pivotal to consider your financial strategy. Life has likely found a steady rhythm by now. Children have probably taken flight, becoming financially self-sufficient, and the idea of reducing work hours or even retiring completely starts to surface. Each person’s life journey is unique and has different resources and challenges.

    • On page 3 we look at the recent tax changes that impact higher rate tax payers and how to avoid unwelcome surprises.

    • On page 7 we look specifically at people in their 50’s and how it is a key time to maximise earnings and / or creating a robust financial plan. 

    • On page 8 we look at the difference between switching investments by moving in and out of a market vs the traditional ‘buy and hold’ strategy.

    • On page 12 with banks offering high interest on cash but with high inflation we raise the question is it wise to lock into a rate that incurs losses in real terms merely to avoid short term volatility within financial markets.

    Full Contents

    03 TAXING TIMES FOR 2023. A year marked by several tax changes that impacted higher rate taxpayers. 

    04 STRATEGIES TO MINIMISE RETIREMENT TAX. Many pensioners may face a lurking
    tax risk as the State Pension grows. 

    06 DECODING AUTO-ENROLMENT. Good news on the horizon for future retirees. 

    07 A CRUCIAL DECADE: FINANCIAL PLANNING IN YOUR 50S. Maximising your earnings or laying down a robust financial plan. 

    08 ‘TIME IN THE MARKET’, NOT ‘TIMING THE MARKET’. The allure of quick profits and
    instant gratification. 

    09 HIGH COSTS OF PRIVATE EDUCATION. The significant decision of choosing a
    private school for children. 

    10 JOURNEY TO MONETARY AUTONOMY. Optimising your finances and formulating an all-encompassing wealth plan for the future. 

    12 WEATHERING THE INFLATION STORM. Is it time to diversify your portfolio? We consider how knowing where to begin can be daunting, whether you aim to maximise your earnings or lay down a robust financial plan.