As I mentioned last month, springtime is here and for many that means spring cleaning your house. It’s a time to check all those hidden corners, figure out what to throw out and what to pay attention to in the coming months.
Personal finance is one of those things that I always advise to spring clean as well! I know it can be boring and not as exciting as rediscovering a loved summer dress, but just a little care can mean more security in your future and not being caught out by what I call ‘bad news events’. It can also help you save money and pay less tax here in Spain.
Don’t Become A Victim Of A UK Pension Deficit Crisis.
The sad truth here is that tens of thousands will see the value of their pension significantly diminished. This means their retirement payouts are less than they thought. As I heard this week “if it can happen to Carillion, it can happen to anyone”! Ask yourself these 3 questions:
1. Do I know my working history and did any company pay pension contributions?
2. What will my income be in retirement?
3. Are these UK pensions safe and not in danger of loss?
Believe it or not, most people don’t know the answers and that’s where I come in. I can easily find out and advise on these issues – and there’s no cost or obligation!
Does Rising Inflation Affect My Savings?
Well the simple answer is ‘probably’, not necessarily badly, but it may well do. But even if you get a better interest rate on your savings, there’s a tax consideration. Any draw down on your savings is taxable, the question is how to legally pay the minimum. With this in mind, there are 3 good reasons to again take some FREE and no obligation advice:
1. Improved returns on UK and Spanish bank rates.
2. Savings on tax as a Spanish tax resident.
3. Protection against erosion of real value.
As a fully regulated IFA in Spain I choose to represent deVere, a leading financial advice company with offices worldwide and more than 40 people working for the expat communities.
My advice and initial fact finding is a FREE service with ZERO OBLIGATION (the way it should be!).
So please give me a call on 610 822 484 or email