Some Common pension worries

Many individuals approaching retirement may look confident and secure. But deep behind that calm face may be future pension worries that they are presently pondering. They have reasons to be worried due to common uncertainties. When you hear of stories about a pensioner having all sorts of difficulties it just multiplies the worry. To counter this type of thinking, you may need to know some common concerns so you can do something about them in the future.Money in your hand after getting a quote

The Savings Is Not Enough

A common complaint among present pensioners is that the savings it not enough. It means their pension cannot cope up with their expenses. This can create pension worries for those who are approaching retirement. If you have three to five years prior to retirement, you may want to investigate the cause so that when you retire you can avoid the situation some pensioners are in.

The Rising Cost of Living

The cost of living can be unpredictable at times. The prices of essential goods usually go with the rising cost of petrol. If the fuel costs are high, chances are the cost of groceries will rise by a few points. You can prepare for this by having alternative places to buy. You may need to have a detailed budget if you are to survive the increasing cost of living by the time you retire. If you are already retired, you can have alternative solutions in sight.

The Presence of Too Much Debt

Having too much debt when you are nearing retirement can be disastrous. You may end up with zero cash balance in the day of retirement. If you still have enough time, settle your debts, loans or mortgages if possible. Remember that you will not have a monthly income once you retire. If you depend on your pension and use it to pay your debts, there is a possibility that you may be on the brink of starvation.

The Absence of an Emergency Fund

Another issue that future retires’ are concerned about is the absence of an emergency fund for their own use. If you still have the time it may be good to invest in a financial instrument that will mature when you are on retirement. This can form part of your emergency fund. There are many investment options that you can consider for this specific purpose. It is better to prepare for the future than not have anything at all. This will save you all the trouble.

The Unpredictable Future Health Care Expense

This is probably where pension worries converge. When you get older, the cost of health care can be huge. There are health insurance programs initiated by the government but most of it includes limited coverage. Some cover only professional fees and other cover only certain amount in medicine. You may need to get a balance of both. Since you know about this in advance it would be best to prepare for it. You may need to really prepare for this one to prevent pension worries in the future.

Being mis-sold a pension when you do decide to get one

people are sceptical now a days when it comes to buying a pension because there always hearing in the news that being mis-sold a pension is happening more and more often so when they do decide they need to get a pension they begin to worry about getting the right one and can easily end up with a pension from a company that is wrong but it’s to late before they realise and end up losing a lot of money.

Finding the right mortgage in the UK

For everyone in the UK looking for a mortgage or re-mortgage we all want the top mortgage deals but how do we find them and get them.

With so many mortgage lenders in the UK how can we make sure we are getting the best mortgage deal in 2014?

Well the good news for everyone is that it could not be easier with so much choice online and so many mortgage brokers offering free mortgage advice we are spoilt for choice.

So wherever you live in the UK you can be assured you will get the top mortgage deal for your needs.

If you want to look and see what is available online before you speak with a mortgage broker then go to a website with a mortgage calculator as this will give you the deals available and an indication of the costs of the mortgage you are considering.

There are many sites to choose from online you will be spoilt for choice but whatever one you use make sure they can offer advice and will not pass your details to a third party as this is defeating the purpose and then the third party may charge you for the advice which you do not need to pay.

Mortgage deals can and often do change daily with the lenders fighting for their slice of the mortgage market which is great news for all of us looking for a mortgage.

Top mortgage deals for first time buyers work exactly the same as for anyone else so you too can follow the simple guide to getting the best mortgage deals for you.

If you are a first time buyer or simply re-mortgaging there is a very good website which will give you an estimate of the price of the property you are looking at and the surrounding area. This can be very good as it will give you an indication of your property value if you are considering re-mortgaging and for first time buyers to see if the house is affordable.

The website is called zoopla and is a UK based website so head over and have a look at it now.

Once you see the property value you can then look to get a mortgage based on 90% of the value and use these figures to put into the mortgage calculator which will then shoe you the monthly payments.

Remember these figures are not 100% accurate but will give you a good indication of what you can get as a mortgage.

It always helps when you have done some research before you visit the mortgage broker or have a telephone appointment with them as it shows you have checked the affordability of the mortgage although this will be checked again by both the mortgage broker and the potential lender.

So if you are ready to re-mortgage or looking to purchase your first dream home the contact a mortgage broker today and get free impartial advice. Visit



Finding the Best Financial Claims Advisor for Your Needs

Do you have a mis-sold pension situation and you are in need of an advisor who can give you the help you need in getting your financial claims? Are you sure that you are currently trusting the right person for your needs? Or are there things that you wish to clarify before you start spending your money to pay for the services of a person who can give you pieces of advice? If the above mentioned questions are running in your mind at the moment, here are some of the qualities of financial claim advisors that you have to look for.


One of the things that you should value the most when dealing with such kinds of transactions is the speed of the processing. You would not want to spend all of your time waiting for your financial claims to turn into a certain amount of money, especially when the damages have struck your finances. You will really need to have a source of money right away and during these times, you can never be too certain on whether you will have one or not. So, even if you are still taking pieces of advice, remember that the speed of the entire process is already something that you need to focus on.


Of course, you would not want to waste your time and money listening to advisors who do not know anything about what you are trying to get help for. If you are uncertain about the capabilities of a particular person claiming to be an advisor, it is best for you to search for reviews regarding their services. You would not want to risk your money, efforts or time on any one who do not know what they are doing. Invest everything not only in the right people, but in the best people who can perform the job.


You should go for a financial claims advisor who will tell you exactly what you need. He is the person who would not insist on letting you avail of their services, especially if your case is as small as a situation which can be solved even without the assistance of anyone. He should be able to tell you the best option for you and not the option where he will get the most benefits.

Fair In Pricing

Finally, choose a financial claims advisor who is fair in pricing his services. Make a comparison between all of your choices before you come up with a decision. Make sure that you do not go to the company who will just charge you with overpriced rates. In addition, choose a company that will not ask anything from you, especially if you do not proceed with your claims and you do not win your case.

So, have you already gained a full understanding of the best thing for you to do when looking for a financial claims advisor? Always remember all the points mentioned earlier and you will never fail to find yourself getting help from the right people.

Top Frequently Asked Questions About Retirement Money

Investing for the future is a choice. If you do not want to live life uncomfortably due to lack of finances or monetary resource, you have to at least secure yourself and your family. This does not imply that you have to save on your own. Instead, you may participate in plans wherein you will be able to define how much you can get in the future and let you prepare for it in an easier way. One of the most applicable solutions you can consider for your forthcoming years, especially after giving up work, is retirement money accretion.

What Is Retirement Money?

Retirement investment is one of the most ideal plans you can get, which remains to be tax deferred most of the time. The accumulation of your proceeds after retirement is either through your employer or personal scheme. But as said, there are more benefits if you will consider employment assistance since bonuses coming from company will be added to your sums. Some companies make it possible to provide more benefits through enhancing the arrangement. In actuality, there are two types of retirement sum plans, which are defined-contribution and defined-benefit arrangements.

What Is the Difference of Defined-Contribution and Defined-Benefit Plans?

The defined-contribution deal will allow your employer to predetermine how much you will get as a retirement plan holder. In addition to this, the sum you will get in the future may still vary depending on the performance of the investment. On the other hand, you have the defined-benefit arrangement, which guarantees that you will get a fixed amount even if your investment performance may change in behaviour. According to experts, defined benefit remains to be the better deal. It will not require you to work too much for your upcoming proceeds since your employer will take over the plan. You simply have to put your own money for the arrangement.

What Are the Main Advantages of Defined-Benefit Plan?

The defined-benefit plan will provide you various benefits to name. First, it has been showed that the arrangement will not extract much effort from you. In order to collect sums for your retirement money, you just have to put your own money into the scheme. The payment for the plan, which will take place while you work, will surely make budgeting easier for you.

How Will I Manage My Retirement Money?

You will be able to take over working for your retirement proceeds only if you will show up in your workplace. By doing so, you will be able to enrol yourself for the arrangement. In addition to this, if you have no idea about investing, you don’t necessarily have to worry at all. This is due to the fact that your employer will take over the investment decisions along with an investiture firm.

Can an Employee Tap in Money?

Take note that your retirement money is for your collection after reaching your work withdrawal period. You will not be able to make an early withdrawal or even get a loan from your traditional pension arrangement.


Choosing Between Term and Whole Life Insurance Wisely

Life insurance is also known as death insurance, but since it does not only offer death benefits, the latter name was eliminated from being used. The main purpose of the insurance policy is to protect your family financially. Instead of worrying about the future of your loved ones, the arrangement will handle your economic plan, which may include your children’s education, house acquisition, and other financial security concerns. However, before you even cross over getting the benefits of the plan, you have to select between term and whole life insurance, the two main types of whole life insurance.

The Basic Overview of Term Policy and Whole Life Insurance

In general terms, the term policy is for death benefit only. In other words, if you will die, your family will get death insurance minus the cash value you may get from other plans. On the other hand, for the whole life insurance, you will get not just death benefits, but also cash value that you may spend on premiums or get back through borrowing or withdrawing. Most importantly, take note that for term insurance, you have a limited arrangement period. It can be 10, 20, or 30 years. On the other hand, whole life insurance will exist until you pass away.

The Costs of Term Policy and Whole Life Insurance

You need to be aware that between term and whole life insurance, the permanent life insurance is more expensive than term policy, especially now that you have a savings program. In addition to this, there will be a higher cash value as the deal lengthens in time.  In other words, if you are not prepared for higher premiums that will be required of you to get substantial cash value, permanent life policy is not for you. According to an expert, whole life insurance is best for people having more than $1 million in assets or income of $250,000 every year.

The Key to Choosing a Plan

It is difficult to choose between term and whole life insurance, but the real key to finding out which is best is to determine how long you want the policy to support your family. If you only opt for less than a decade, term is the best option. However, if you need larger amount for taxes at your death, permanent insurance may be appropriate, especially in terms of estates.

Understanding Legal Cases That Are “No Win, No Fee” in Scotland

The cost during a legal battle is a significant factor that people should bear in mind, considering the “no win, no fee” in Scotland when it comes to legal services. Anyone who wishes to push a legal battle or claim in the area should seek for different solicitors and ask this matter. This is important in order to be aware of the necessary fees.

Reasonable Fees

If solicitors will charge a client for legal services, it is important to assess how reasonable the required fees are. Primarily, solicitors will give their clients an estimate cost of the entire service. Reasonable fees should insure the knowledge, specialization, and supervision of the legal adviser to the client. The amount of work, complexity of the case, and time involved as well as the length, number, and relevance of documents, and the urgency of the case should likewise be considered. There are no set guidelines for legal fees in Scotland, allowing legal firms to charge their clients on what they think is appropriate. Hence, legal services that are “no win, no fee” in Scotland could be very advantageous during a legal battle.

How Solicitors Estimate Fees?

Some solicitors in the area charge their clients with a fixed fee, regardless how complex the legal case may be. Other solicitors charge their clients based on the time needed or spent on the legal case. Most likely, clients who contact and spend so much time with their solicitors are charged with high fees. On that note, clients tend to limit their time spent with their solicitors. These are the main drawbacks why people are advised to find a legal service that is “no win, no fee” in Scotland.

What Is No Win, No Fee?

People should be aware that there are Scottish solicitors who offer a “no win, no fee” legal service. The term simply implies that clients are not charged with any fees during the legal proceedings unless their legal case is victorious. Otherwise, they will be liable for the legal expenses of their opponents. They will also be responsible for the outlays of their respective solicitors. This legal option may be too risky for many clients. That is why they are also advised to take out an insurance prior to a case of no win no fee in Scotland.

Major Considerations

In the United Kingdom, solicitors may differ when it comes to “no win, no fee” claim options. In Scotland, the rules for such claims have a slight difference compared to that of England’s and Wale’s rules. Solicitors in the latter regions offer the service with 100% compensation clauses, while the Scottish rules vary. There are conditional fee agreements such as 30% of the compensation will go to the solicitor. If the legal case is victorious, the opponent will cover the solicitor’s fees, as another possible, conditional agreement.

Legal System

The legal system in different regions works differently. This is why it is very important to understand the Scotland’s laws and rules, especially when one is involved in a legal battle. Having adequate knowledge is still the absolute tool in all cases and circumstances. Overall, cases of “no win, no fee” in Scotland do not possess a 100% compensation clause.


What Is the Best Mortgage for You?

Shopping for the perfect rate of mortgage is probably the aim of almost everyone, but also their dilemma. Because it is not as easy as going to a shop and ask around for the best rates. Also there is a big chance that you have no idea on how to identify the best mortgage from the worst. Getting a mortgage is actually easy given the numerous financial companies and institutions who offer it, but finding the best mortgage can also be easy if you just know the right things to consider.

The Guidelines in Choosing the Best Mortgage

  • First, borrowers must know how to establish a baseline. It is very important to have a good background to the financial institution you will deal with. Instead of doing a research, you can get a referral from someone you trust. At least you know that the lender you will contact and deal with is someone trustworthy. It is also better to discuss your credit scores and loan plans with someone you know you can trust. So if you have some issues or uncertainties in choosing the best mortgage, you can openly discuss them with your lender.
  • Always know that you have a lot of options to contact with. Given the number of financial institutions, you have plenty of options to contact with. This is important to know what they have to offer for you. Given how unstable the global market is, the interest rates also fluctuate. There are possibilities that a particular institution offers a better rate than the others. So you should learn to play with your options. As what the experts say, there are times where a specific bank introduces a new loan and offers better mortgage than the rest in order to attract borrowers. That is why as a borrower, you should learn to diversify and maximize your options in order to come up with the best mortgage.
  • You must know when you want to close. The lock- in- period has an impact to the mortgage rate. So you have to discuss your target close date to each lender so you will have an idea about their charges for different loan- lock- periods.
  • Before closing the deal to the best mortgage you have chosen, do not forget to ask about the fees. Instead of basing your comparison solely on advertisements and campaigns, you should focus more on the fees associated with the loan. You should be aware that sometimes, the one who offers the lowest advertised rate ended up asking for the expensive fees which will cost you more.
  • Consider the points. You should know better than paying all the points. Having the best mortgage is not all about the points. For sometimes, the largest expenses can be traced to the points that come with your loan.

In getting a house, experts suggest that it is very much important to consider the size which you are planning to get. Because the interest rates differ according to the loan- to- value ratio. You should also know whether you will purchase a condominium or a family home so you can have an idea with the interest rate. After you have read and organized the following steps, you can now have a better approach in selecting the best mortgage.


Tips and Strategies: How to Protect Your Income in the UK

An income can be defined as the money that you receive for the services or the goods that you have supplied. If you have been working, then you know the importance of your income. Your salary will keep you afloat and alive, especially if you are independent and living on your own. Your income is not just important for the material value it gives, but also for the sense of satisfaction that you are able to provide for yourself. Although there are a lot of jobs out there, wherein some even have two to three jobs, a lot of people still lose their incomes without knowing how. It can be through bad investments, bad people or even bad management. If you value your income because you value the hard work that you have put into it, then you need to read on to see how you can protect your income.



Retirement Income: How to Save Up and Protect


If you are not already aware, there is something called your retirement income. It is actually the amount that you would most likely need in order to be able to pay for your medicines and bills while you are in your retirement. People usually save up for their retirement income by investing their money in insurance and retirement plans, social security, pensions, savings accounts, mutual funds and home equity. One very dangerous situation that usually happens is when retired people do not get the retirement income that they worked and saved up so hard for.


If you would ask how to protect your retirement income, the best way of course is to do a lot of research. That means very thorough studying of different retirement plans and insurance, before making an investment. You need to make sure that the company you are leaving your money with will come through for you when the time comes for you to retire. Remember, you are entrusting your retired life to these people, so be sure to do every possible background checks. Now, if you think this is all too hard for you to handle, it is best to consult with a friend who has had experience, or better yet, a professional who can walk you through the process.



Income From Stocks: Preventing Loss


So many people have been investing in stocks nowadays. In fact, it is not just the financial experts that are going into the stock market. Even people who are not in anyway associated with the stock exchange have been venturing into this industry that is not even new but has been blooming for the past couple of years. But there have been signs that the stock market imposes trouble for those who are relying on their stock investments to pay for their income and pensions. Experts have shown that there will be what they call a black hole with the way the payouts are being computed. One of the reasons behind this is that there is a possibility that major British firms will be bought by its rivals.


A lot of people who have been saving and investing in the British Stock Market have shelled out almost £59billion. And the truth is, most of these investors tend to give their money to companies with reputations of being able to give back huge amounts of money to its stockholders. Experts have been observing that during the course of the past five years, there was a 98 percent of average equity income returned by the fund manager. But because the Pound is still very strong, the returns will be squeezed, including the living standards of the investors who are relying on them.


So if you are very interested in buying stocks to help you in your future but are afraid to see your money go down the drain, the best thing to do before investing is to check the dividend cover. This is where the company’s profits are much more than the dividend payment. Experts have shared tips on how you can spare yourself from losing money and that is to avoid buying shares that are 1.5 below what they call the safety threshold. These shares have profits that are 1.5 times more than the latest dividend payout.  So if you invest in one of these shares and their stocks decide to suspend or even cut dividends, you will lose a lot of money and your income will be depleted.



Regular Employment Income: Regular Ways to Save


So aside from the first two income generators, there is also the most common income and that is the money coming from your regular or day jobs. Now, you would know the importance of budgeting your hard earned money because you worked for it. So of course, you would want to do everything you can, not to waste money. The best thing to do for you to protect your income is look for the best rates that a bank can offer, so you can save your income. Be sure to know how to budget your income, setting aside money for all your necessities, some for savings and a little bit to have fun. If you deprive yourself from having fun, you will end up binging and losing more money.



Income Protection Insurance: Knowing the Importance


Although budgeting and storing up money in the bank, there is an even better way to make sure that your income is protected. That is by getting an income protection insurance. Income Protection or IP is an insurance policy devised to give you income whenever you cannot come to work because of an illness or an injury.


Originally known as the Permanent Health Insurance or the PHI, the IP usually gives payments until you return to work, retirement and even death. IPs are usually long-term, but there are now short-term policies that are being offered at a cheaper price. Although it is important to have payment protection insurance and private medical insurance, it is still safer to have your own IP because the policies are made specifically for preventing income loss.


To be more specific about the importance of having an IP, Unum and Personnel Today have conducted research that shows only 12% of employers actually pay their staff for more than one year if their employees have been out sick. Because of the low level of availability of these state benefits, every working adult in the UK should definitely consider having IP. The researchers said that out of all the people they asked, only 9% have IP, while 41% have life insurance. What is very alarming though is that, from one survey, less than a quarter of people believed that income protection is important.


Types of Income Protection

  1. Long-Term

The long-term income protection policy will pay you out until a specific maximum age, death or until you are able to go back to work. By the time you apply for your policy, you will find out what your coverage is from day one, so you will know what you are allowed to claim for.


  1. Short-Term

The short-term IP is similar to the long-term one in terms of policies and coverage, except for the part that short-term IPs only have a maximum of five years.


  1. Accident, Sickness and Unemployment (ASU) Cover

This type of income protection comes at a more filtered process, as providers need to screen clients. This coverage is a bit cheaper than regular IPs, but there is less guarantee of what you will be covered of.


Price Bases of Income Protection


  1. Guaranteed

Having a guaranteed price bays will ensure you that you will pay for the same amount until your policy term expires. The amount will only increase if you upgrade your coverage. Although this will cost you more in the beginning, it will help you save money in the long run.


  1. Renewable

After a specific period of time, your premium gets reviewed, at which point, your insurance provider is allowed to increase the amount that you are already paying for.


  1. Age-Related

If you have a high-risk job or you are a smoker, then this could be the best price base for you because risk factors aren’t part of the price computation. However, you can expect your bill to rise every year as you grow older.