The idea to build and create wealth, is a common purpose that people will aim to aspire to. But unfortunately most people don’t achieve it ! Why ? – because it takes discipline, time and a lot of effort. It may appear daunting and out of the reach for the […]
7 deadly sins of investing (how to avoid them)
The subject or idea of investing can appear to be complex and confusing, and there are so called pitfalls to avoid. So how can we eliminate our mistakes such the “7 deadly sins of investing” so we can improve our chances of success. Let’s look into what are considered the […]
What’s the difference between saving and investing ?
Savings and investing are simply 2 ways to handle and control your money. Ultimately you want your money to work for you. So let’s look at a common question: “What’s the difference between saving and investing” To keep things easy to understand, let’s spilt it in 2 simple steps. What […]
Pension basics you need to know if you plan to retire abroad
The idea of retiring abroad and living overseas is a dream to most individuals. Especially in the UK where the weather isn’t very good and the cost of living can can expensive compared to many other countries around the world. There are a number of factors that can come into […]
How to reduce my tax bill by paying into a UK pension ?
A common questions asked by people I speak to on a daily basis through my employment. Is how can I reduce my income tax liability ?. So I can legally pay less tax or drop into a lower tax bandings. A great way to start is to contribute into your […]
Five ways people retiring can cut their investment tax bill !
In the UK, people retiring rely on income from numerous sources. Such as personal or workplace pensions, state pension, property income, savings and dividends etc. But 1 main concern is most people is about the amount of income tax they pay. When speaking to people during day to day employment […]
Do I need financial advice or guidance ?
The world of personal finance can appealing daunting to most people as we don’t teach finance in the school curriculum or via the employment workplace. So when it comes to buying financial products, a common question asked is, “Do I need to attain guidance or financial advice” to help him. […]
How to find a missing pension
In the UK, it is a common problem that pension savings will go missing, or become somewhat lost and currently unaccountable. So how do I find a missing pension ? It is estimated that over 3 million pension pots are currently missing. Worth a collective £ 26.6 billion in value, […]
What is the triple lock ?
It’s in the news all the time, but what exactly is the triple lock ? Quite simply it is the amount that the UK state pension will increase each year on the 6th April at the start of the new tax year. Whereby the amount of state pension that you […]
What is a SERPS pension ?
Firstly – what is a SERPS Pension ? SERPS stands for State Earnings Related Pension Scheme. The idea or talk of SERPS, creates confusion and bewilderment to the vast majority of people within the UK. But Why ? In the past individuals were asked to join a pension by their […]
What is pension recycling ?
What exactly is classed as pension recycling ! This is where an individual decides to reinvest their tax-free lump sum. Or some pensionable income back in a pension scheme that they may have. So why is this a problem ? By re-investing the funds back into a pension wrapper which […]
What happens to my pension if I die ?
Basically – what happens to my pension if I die ? This is a common question asked by individuals as part of their current and future financial planning. As most people would like to leave some pension provision to a spouse or children in a worse case scenario. A common […]
The Psychology of Money – Book review
The Psychology of Money book was written by Morgan Housel in September 2020. It is a self-help finance book around 250 pages. Written to provide timeless and simple information for ordinary people to relate to. With the aim to provide clear and concise advice and straightforward plan towards the behaviour […]
The Fastest Way to pay off Debt !
The 1st rule of personal finance should be to eliminate unnecessary bad debt. Before you even consider the idea of saving, investing or trying to create wealth. Most people struggle financially on a day to day basis, because they may be burdened with bad debts to fund day to day […]
Rich Dad, Poor Dad – book review
Rich Dad, Poor Dad is the best selling International book written by Robert Kiyosaki, way back in 1997. The book provides a valuable insight into a new concept to achieve your financial dreams and aims. Whereby you will become very rich and you will learn to make money form for […]
What is a small pots pension ?
So what exactly is a small pots pension ? A small pots pension in a pension pot below £ 10,000 in value So how do people get to have a small pot ? Thanks to the introduction of Auto Enrolment (AE) from 2012, it is now compulsory for employer’s to […]
What is the Money Purchase Annual Allowance ?
What is the Money Purchase Annual Allowance (MPAA) ? Quite simply, if you start drawing an income from a Defined Contribution (DC) pension in a flexible manner. The amount that you can contribute in future might be reduced or restricted. This is known as the Money Purchase Annual Allowance or […]
Auto-enrolment pensions – a basic introduction
Since 2012, Auto-enrolment has been introduced in stages. Whereby a employer must offer it’s workforce a Defined Contribution pension scheme. All employee’s will be automatically enrolled. With the aim of giving them a better income in their retirement. In addition to the basic state pension. So what is Auto-enrolment ? […]
What are relevant earnings, with regard to UK pension contributions ?
I am thinking of making contributions to pension fund within the UK. But are you confused as what income or relevant earnings or level of pension contributions that count towards claiming pension tax relief. What amount can I pay in within the tax year ? As this subject, appears to […]
Can I defer my UK state pension ?
Firstly, am I allowed to defer claiming my UK state pension ? In the United Kingdom at present the state pension is currently 66 (as May 2024) for both men and women since being equalised. However though, this due to gradually rise to age 67 for all individuals between 2026 […]
Disclaimer
My blog posts published on the Moneyminted.co.uk website are provided for information and educational purposes only. They don’t constitute as personal financial advice. The aim of this blog is to create and provide financial information and recommend products that can enhance and improve your investment knowledge. So you too can […]
New Personal finance changes as of April 2024
So let’s look at the new changes that have been introduced for April 2024. The start of any new tax year normally brings a raft of changes that will impact the personal finances of individuals. New bandings and rates are usually implemented on 6th April being the start of each […]
What is flexible retirement income (pension drawdown) ?
So what is Flexible retirement income, also often referred to as pension drawdown or Flexi-access drawdown (FAD). It is a way to control how much you take out of your Defined Contribution (DC pot. As a way to fund your income in retirement. The aim is to give you flexibility […]
How to access your pension by a number of lump sums ?
So how does somebody access a UK pension by a number of lump sums ? Under current rules, it is up to you how and when you can access a UK pension from the age of 55. Although this will be increased to age 57 from 6th April 2028. You […]
How do I buy a pension annuity ?
An Annuity is a pension product that provides someone with a guaranteed income in retirement. You can buy an annuity with all or some of your pension pot. Which will pay an income for life for a number of years (known as fixed term). On initially buying you can draw […]