Wealth Knowledge

Wealth Knowledge April 2017 Families help first time buyers get onto property ladder A third of first time buyers receive financial help from their family save for a deposit, according to Opinium. These first time buyers estimate that their deposit will be 32% of their salary on average. Further findings: 19% expect their deposit to

Wealth Knowledge March 2017 Government measures distort childcare costs A family earning the national average spends up to a third of their net income on childcare costs, according to the Institute of Economic Affairs (IEA). The government currently spends over £7 billion on childcare benefits. The IEA claims that government subsidies, such as the free

Wealth knowledge – February 2017 Young adults saving more Young adults are saving more money than other generations, according to Opinium. Those aged 18 – 34 saved on average £3,701 in 2016, £450 higher than the baby boomer generation (£3,238) and generation X (£3,266). 78% of adults put money into their savings in 2016, while

Wealth Knowledge January 2017 2017 tax and finance changes A number of tax and finance changes are coming into force in 2017. Although most measures will take place in April, it is vital to plan ahead to stay up to date with the opportunities available. So what changes are being introduced and how might they

Wealth Knowledge December 2016 In this month’s Wealth Knowledge…More people are saving more for retirement through workplace pensions. A quarter of properties sold in Q3 2016 were second homes or buy-to-lets. Research has found that cash ISAs are the most popular way to save but savers could be missing out on higher interest rates. And,

Wealth Knowledge – November 2016 In this month’s FAC Group Wealth Knowledge… 40% of families have had to cover funeral costs after the deceased didn’t make any financial arrangements. A fifth of self-employed people would cut back on insurance if they had to reduce costs. Paying a year’s worth of voluntary national insurance could boost

Wealth Knowledge – October 2016 In this month’s FAC Group Wealth Knowledge… just under a fifth of individuals aged 55 and over do not currently have a will. The publication of the Savings Bill has confirmed that there will be a 5% early withdrawal charge for savings in Lifetime ISAs. A record number of property

Wealth Knowledge – September 2016 In this month’s Wealth Knowledge… just under half of 25-34 year olds plan to utilise shared parental leave when they start a family. The yield on UK 10-year bonds has fallen to a record low, as the Bank of England missed its bond purchase target. There were 8.3 million people

Wealth Knowledge August 2016 In this month’s FAC Group Wealth Knowledge… 36% of businesses affected by the national living wage have raised their prices. People who rent out property need to be aware of tax changes such as the new rules for deducting costs. 50% of mortgage holders do not currently have life cover. And,

Wealth Knowledge July 2016 You may have concerns about your business or personal finances following the result of the EU referendum. FAC Group can explain what the result means for your finances and advise on potential actions. Contact an FAC Group financial adviser on 01726 814935 to discuss your circumstances. New retirees favour gifts over inheritance The