Summer 2019

Embrace the joy of tidying

Prioritise peace in your life: extend the Marie Kondo tidiness craze from your home to your finances.

Have you ever looked at a room in your home and wondered how you accumulated so much stuff ? You might well remember when you acquired each item, but the questions of why and whether you still need it can be more awkward to answer.

What applies to household surplus can be just as relevant to excess baggage in your personal finances. But working out what investments, savings and insurance cover you have, why each one is there and whether you still need it can be a daunting task. For example:

■ Do you have any old stocks and shares ISAs – perhaps they were even once  PEPs – bought in an end of tax year rush long ago?

■ Do you have cash invested in bank or building society accounts opened more than a couple of years ago?

■ Do you have any pension plans where contributions have long since ceased and perhaps the provider has closed to new business?

We can help you tidy up your finances, a process that can have a range of benefi ts. Charging structures now often favour bringing together holdings in one place, which can also make it easier to manage a portfolio. For cash deposits, Financial Conduct Authority research from 2018 showed that accounts that were more than two and half years old typically paid less than half the interest rate offered by newly opened accounts.

✢ The value of your investment can go down as well as up and you may not get back the full amount you invested. Past performance is not a reliable indicator of future performance. Investing in shares should be regarded as a long-term investment and should fit in with your overall attitude to risk and financial circumstances.

The value of tax reliefs depends on your individual circumstances. Tax laws can change. The Financial Conduct Authority does not regulate tax advice or cash deposits.

In this issue:

» Dividends riding high, but…

» Pensions and divorce – not just about the split

» Moving the 65-yard line

» How much is enough for pension contributions?

» If it looks too good to be true…

» New headaches for landlords?

» The school fees equation

» National Savings reduce investments