22 Mar Newsletter – March 2016
Never mind Spring fever, Budget fever certainly abounds! Not to mention speculation on the effect a Brexit would have on Sterling. We’re keeping a close eye on developments and will keep you up to date with any financial implications.
You may well be thinking of eggs of the chocolate variety with Easter being early this year but bear a thought for your nest egg too. Now is the time to top up your ISA and do a spot of financial spring cleaning, dust down those long-forgotten policies or accounts and check you’re making the most of any allowances.
If we can help in regard to any of this do let us know. Finally, as we always like to give useful advice, don’t forget to put your clocks forward on 27 March! We wish you a very Happy Easter.
March Market Commentary
February was another month where the problem for this commentary was what to leave out: the world is not short of ‘events’ at the moment.
In the Far East, North Korea successfully fired a long range rocket, causing consternation in Tokyo and Seoul. Closer to home, David Cameron returned from Brussels with his deal on the UK’s continued membership of the EU – causing consternation in Boris Johnson and Michael Gove.
Use it or lose it time for your ISA
As the end of the financial year draws ever closer, it’s important not to forget about any ISAs (Individual Savings Accounts) you have and any remaining payments that you’re allowed to make. The maximum allowance for ISAs for the 2015/16 financial year is £15,240, so it’s important that you invest any funds that you have left to pay into your ISA as close to that amount as possible, as soon as you can.
Retirement ‘class of 2016’ owe less than last year’s
The amount of money owed by those planning to retire over the course of the next 12 months has fallen for the fourth year in row, according to the latest research by Prudential. This year’s retirees who still have debts owe an average of £18,800, a fall of £3,000 or 14% from last year and a drop of nearly £20,000 since 2012 when the average amount owed was £38,200. However, despite the continued fall in average debts, Prudential’s unique research into the financial plans and aspirations of people planning to retire in the year ahead – the Class of 2016 – shows that the proportion of retirees in debt remains stubbornly high.
Could you, just let go?