retirement Archives - Page 2 of 3 - Philip J Milton & Company Plc

How much do you need for a ‘comfortable’ retirement?

UK residents need at least an extra £26,000 in addition to their State Pension to live a ‘comfortable’ lifestyle during their retirement, according to recent data. The research was carried out by Standard Life, which used the MoneyHelper annuity tool from www.moneyhelper.org.uk to work out how much people would need in their pension pot to...

Replacing your State Pension could cost a fortune

Recent news the State Pension booster scheme has been extended until 2025 is very welcome, but did you know it could cost you a small fortune to replace the full State Pension if you’re not eligible for it? Data from sharingpensions.co.uk published in June has shown it would cost just over £205,430 of pensions savings...

Kinder markets and when to move?

I took a couple of days’ break to attend our Daughter Esme’s graduation and the markets were good to us and there’s now one more NHS Doctor. Perhaps I need to take more time away if it helps so many of our investments rise in value...! It is interesting however – we try our hardest...

Odd markets, bubbles and opportunity

The markets have been continuing their sideways negativity, with some situations suffering ‘death by a thousand cuts’, as sentiment remains disillusioned. There are a few brighter spots this week, which is good but it’s easier for the marketmakers to mark things in red to try to drum-up trade than give optimism for the near...

Inflation and cautious optimism

So Sterling has hit its highest level against the Dollar since April last year and the Euro since August. Whilst it reduces the value of investors’ overseas’ assets, strength is positive and I can say ‘expected’ though whether it is on confidence in the UK and our economic prowess (or others’ regression) is hard...

State Pension booster scheme extended – but not forever

Pensions are back in the headlines again with the news the deadline to ‘boost’ your State Pension by as much as £55,000 has been extended. The booster plan from HMRC gives people the opportunity to buy the equivalent of up to 10 extra years’ of state pension if they have gaps in their National Insurance...

Markets in the first half of 2023

Elon Musk is basking in the light as the world’s richest man again as his investments have recovered some followers and at the same time the froth has blown-off the top of the French luxury brands’ world. We feel both stocks' and sectors’ sun-bathing remains transitory. So US inflation has slipped some more and the...

Are you paying the wrong pensions tax?

One of the ‘top 10’ most common tax mistakes people make is not telling HMRC they are about to retire, according to the Age UK. The charity has warned retirees could end up paying the wrong amount of tax if they don’t tell HMRC about their State Pension. You must tell HMRC about any changes...

Don’t put pension planning on the back burner

Assurances have been made that the State Pension age is ‘unlikely’ to rise to 68 years-old but the ongoing speculation does bring into focus the need to have a clear understanding of the issues and to plan for retirement. The current age is 66 and the Work and Pensions Secretary recently said in parliament it...

Do you fall into the 60% tax trap?

Higher earners are being warned not to fall foul of the ‘60% tax trap’ that could eat significantly and perhaps unnecessarily into their earnings. This will not affect everyone, of course, but as of April, the additional rate tax threshold for income tax was reduced from £150,000 to £125,140, dragging more people into the higher...

How much do you need for a ‘comfortable’ retirement?

Replacing your State Pension could cost a fortune

Kinder markets and when to move?

Odd markets, bubbles and opportunity

Inflation and cautious optimism

State Pension booster scheme extended – but not forever

Markets in the first half of 2023

Are you paying the wrong pensions tax?

Don’t put pension planning on the back burner

Do you fall into the 60% tax trap?

Risk Warning

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Philip J Milton & Company Plc

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