Your Legal Magazine
Page 12
Female Focus The UK budget – it affects us too!
The big financial news is that the annual UK budget has taken place and as usual, it’s a mixed bag. But for savers, there really is little cheer. Interest rate prospects remain low which is great for mortgage holders, but means that if you’re planning your future, then a normal savings bank account just isn’t going to cut it!
The facts are that inflation for retired people is running at 3%. This is based on the general running cost of your home, plus general living costs. The important thing here is that the cost of living is
going up faster than bank interest rates. In real terms, if you rely on bank savings, you are losing money. At current rates, 10,000€ held in a bank savings account will only be worth 7,600€ in real terms after 10 years. It’s almost cheaper to throw away 1€ every day for the next ten years.
Some of you have pension schemes in the UK, some in what you might think are ‘safe bets’. But you really can’t relax, for example, you may have read in the news that the BHS (British Home Stores) pension scheme is in serious debt. Failing to know the state of your fund and what you are entitled to and when, can put a serious dent in your retirement financial plans.
At deVere, we offer a free financial health check. We offer a service to trace all your pension ‘assets’ and then offer you options for improved finances. We keep an eye on where your pension would most likely flourish, and we believe in responsible risk management. One such ‘safer’ opportunity for people living in Spain is the Prudential (yes, ‘The Pru’) where their bonus return is between 5% and 7% per year, significantly better than a bank savings account.
Finally, I’d like to remind you of the automatic exchange of information taking effect on tracing people and their movement of monies from banks outside of Spain, into Spain. Again, we’ll cover the implications in our free financial health check so please call me. See our advert for details.
To book your free financial health check, just pick up the phone and call Steve Iball at deVere on 610 822 484 or email
steve.iball@devere-spain.es.
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53 |
Page 54 |
Page 55 |
Page 56 |
Page 57 |
Page 58 |
Page 59 |
Page 60 |
Page 61 |
Page 62 |
Page 63 |
Page 64 |
Page 65 |
Page 66 |
Page 67 |
Page 68