The ups and downs of the FTSE 100 40-year history demonstrates time in the market matters Investments 08/02/2024 This year the FTSE 100 index turns 40. Over the last four decades, it’s become a way to measure the health of the UK stock market. During that time there have been highs that investors no doubt celebrated, and lows that serve as a reminder that there’s some truth in the saying: it’s time in the market, not timing the market. In 1984, Margaret Thatcher was serving as prime minister and, similar to today, interest rates were increasing in a bid to reduce inflation – the base interest rate exceeded 12.8% in July 1984. The country was also grappling with miners’ strikes and high levels of unemployment. Yet, it was also a time of technological advancement and scientific discoveries. Against this backdrop, the FTSE 100 index launched. The FTSE 100 is made up of the biggest 100 companies that are listed on the London Stock Exchange.
Guide: Everything you need to know about annuities when creating a retirement income Guides 30/01/2024 When you retire, you will often have a range of choices available to you about how you access your pension. One such method is an annuity, which could provide you with a reliable income. If you’re not sure how annuities work or if they could be right for you, this guide explains the essentials you need to know. It could help you feel more confident making decisions about your pension and retirement income. Read the guide to discover: How an annuity works The different types of annuities available The advantages and disadvantages of choosing an annuity Some key questions to consider if you think an annuity is right for you. Download ‘Everything you need to know about annuities when creating a retirement income’ now to read about annuities and how they could create financial security in retirement.
Fraudsters used “social engineering” to steal £580 million in the first half of 2023 Protection 17/01/2024 While the amount stolen by fraudsters fell slightly in the first six months of 2023 when compared to the same period in 2022, a staggering amount was still lost to scams. The latest figures from UK Finance show £580 million was stolen by criminals. Advanced security systems used by banks prevented £651 million from being stolen in the first half of 2023. Yet, despite these efforts, thousands of people are still falling victim to scams that could have a devastating effect on their emotional and financial wellbeing. Indeed, the Great British Retirement Survey 2023 found that 1 in 12 people have lost money due to financial scams in the past three years. Interestingly, the findings suggest younger generations could be more likely to fall for a scam – 15% of respondents aged under 40 said they’d lost money due to fraud. Fraudsters are using authorised push payments to scam victims According to the UK Finance report, criminals often focus their attempts on “socially engineering personal information” to commit authorised push payment (APP) fraud in which the victim is encouraged to make the payment themselves.
Inflation is falling. Here’s what it could mean for your finances Protection 17/01/2024 High inflation has dominated headlines over the last two years. With the rate now slowly nearing the Bank of England’s (BoE) target, taking stock of what it means for your finances could be useful. The BoE is responsible for managing inflation and aims to keep it at 2%. The central bank explains keeping inflation stable helps everyone plan for the future. Several factors combined in 2021 that led to the rate of inflation soaring. It reached a peak of 11.1% in October 2022 – a 41-year high. In the 12 months to November 2023, it’s still above the BoE target but has fallen to 3.9%, according to Office for National Statistics data. The BoE’s Monetary Policy Committee (MPC) said it expects inflation to continue falling towards the 2% target in 2024. However, it doesn’t expect to reach the target until the end of 2025.
The families of 6 in 10 over-75s could face challenges if they lose mental capacity Protection/Retirement 18/12/2023 A survey suggests more than half of people aged over 75 haven’t arranged a Lasting Power of Attorney (LPA). It’s an oversight that could mean their families may not be able to make decisions on their behalf if they lost mental capacity. MoneyAge report that research from Just Group revealed that around 3.4 million over-75s had no LPA in place. If you or your relatives may be among them, read on to find out what an LPA is and why having one may bring invaluable peace of mind to you and your family. An LPA allows you to choose someone you trust to take care of your affairs An LPA is a legal document that allows you to nominate one or more people you know and trust to take care of your affairs in the event that you can no longer look after them yourself.
