Overestimating your pension savings
Are you relying on the state pension to support you in retirement?
Around 18 out of one hundred of people who are looking to retire during 2010 admit they will be relying on the state pension and income from investments to support their retirement, according to insurance firm Prudential.
Almost a 3rd of people who are about to retire either do not know how much they will get from the Basic State Pension or overestimate how much they will have.
But the up-to-date figures from the ONS (Office of National Statistics) demonstrate that the average outlay for a home headed by someone aged between 65 and 74 is £321 a week.
The research indicated that across every people who are considering retiring this year, the state pension will account for an average of 34 percent of their income. Occupational pension schemes will make up 36 percent of the average person’s retirement income, with 11 per cent coming from different savings and investments and 9 per cent contributed by private pensions.
The State has announced that it cannot sufficiently fund pensions at a satisfactory level in the future. It is up to each individual to ensure they have adequate preparation for retirement.
Consilium Asset Management Limited are Financial Advisers based in Bristol, South Gloucestershire.
Wherever you are with your retirement savings, don t be put off from considering action, it s not too late. There are however steps you can take to improve the money you ll receive when you finish working.
Pensions are a highly tax-efficient way to invest. If you already have a pension, now would be a very good time to contact us about making a lump sum investment to improve it, especially as the end of tax year is rapidly approaching, or starting a SIPP to increase your choices. You won t have to draw all your pensions at the same time.
If you are employed or self-employed, you can contribute up to 100 per cent of the value of your relevant UK earnings (salary and other earnings), up to a maximum of 245,000 for the 2009/10 tax year rising to 255,000 for the tax yr 2010/11. Investments above this annual amount are granted but will be taxed. You can invest into any no. of pension schemes (personal and/or company) each year.
You will receive tax relief on your Investments, so if you are a higher rate tax payer a 20,000 contribution would cost just 12,000. Basic rate tax relief is supplied by the government to all contributions at a rate of twenty%.
Higher rate tax payers can obtain up to a further 20 per cent tax relief via their tax return. If you earn more than 150,000 you will see the tax relief on your pensions cut from April 2011, tapering from 40 to 20 percent for those making more than 180,000. Wage Earners below 130,000 will not be affected.
There s a lifetime limit on the amount of your pension pot, which is presently £1.75m in the tax yr 2009/10 but rises to £1.8m for the 2010/11 tax yr. If your investment fund exceeds this, you ll incur tax charges of 55 percent if the extra gains are taken as a lump sum and 25 per cent if taken as income. The income will then be subject to income tax at your highest rate.
From 6th April 2010, the age at which you can start drawing your pension increases to 55. If you need to, pension benefits can be deferred until you are up to 75 years old. You may still be able to take your pension prior to age 55 in some circumstances, for example if you retire through ill-health.
Consilium Asset Management Limited supply pension advice and retirement planning advice.
The value of investments and the income from them can go down as well as up and you may not get back your original investment. Past performance is not an indication of future performance. Tax benefits may vary as a result of statutory change and their value will depend on individual circumstances. Thresholds, percentage rates and tax legislation may change in subsequent finance acts.
There is one day in your child’s lifetime that you dread more than any other and they are most excited about; the day they get their license to drive. Many people have heard a story about a young person seriously injured in an car accident. How can you shield your child from being the the next accident statistic?. Talking about about car safety is vital. Also, another alternative is to register for additional drivers education courses. This will result in lower auto premiums and a better prepared driver.
Which group of drivers are the most likely to have an accident?
According to the latest research, individuals under the age of 25 are most likely to be involved in an motorcar accident. Also, researchers report the risk crests right after a driver receives his or her first license. Statistically, young male drivers are twice as likely as young female drivers to be involved in a crash.
What road conditionslead to to crashes?
Older cars do not have the most up-to-date safety equipment and these tend to be the cars newly licensed drivers use. Additionally, an increase in the number of passengers and driving on weekend nights increases a young persons risk of an auto accident. Lastly, weather conditions which result in wet weather can be difficult for an inexperienced driver to maneuver.
There is in fact a form of car insurance for young drivers that discourages drivers from driving at more dangerous times of the day. This type of insurance is known as pay as you drive. For example the highest mileage rates will be charged for the most dangerous times such as the middle of the nght.
Where can you be taught accident avoidance techniques?
Drivers education can help a newly licensed driver gain the actual road experience he or she is lacking. The DSA (Driving Standards Agency) offers a driving course called Pass Plus geared toward newly licensed drivers. The Driving Academy at Mercedes-Benz World offers a driving experience class for soon-to-be new drivers. Also, the IAM (Institute of Advanced Motorists) presents various driver training courses aimed at developing safe motoring.
Why undertake driver education classes?
Getting a drivers license is a rite of passage and parents have to watch as their children grow up. Unfortunately, approximately 300 young drivers and their passengers are killed each year in the UK and many more are seriously injured. But it doesnt have to end this way, young people who participate in supplemental drivers education experience significantly lower crash rates. Also, these courses not only save lives, but money through reduced insurance premiums. So parents, before you push your little birds from the nest, enroll them in a driver education course for your peace of mind and peace of wallet.
We need to explore other forms of energy and possibly leverage natural resources like sun and wind to get solar power electricity and windmill electricity. Burning of fossil fuels like coal, oil, gasoline and natural gas increases the level of carbon dioxide in the air, which in turn contributes towards greenhouse effect and global warming. Burning of fossil fuel is also contributing towards air pollution. Natural and renewable energy resources like solar, wind, hydrogen, Tidal and hydropower provide clean energy with little or no pollution and no greenhouse effect. The Top renewable energy resources are: Solar energy, Wind energy, Hydropower, Hydrogen, Biomass energy, ocean energy and geothermal energy. FansSolar powered fans aren’t cheap, they normally cost between $400 and $700. The actual price will depend on the exact features that you require and whether or not you are able to install the fan yourself. These fans are fully assembled and are weatherproofed, you do not need to add any extra flashing to fit these fans. That is an example of passive solar power. Passive solar homes have a way to collect the sun rays such as double glazed windows and then have a way to store and re-circulate the air through the house. Active solar power homes have large solar panel cells, pumps and heat exchanges. Many solar powered homes use a combination of active and passive solar power. The sun’s rays are trapped and then using photovoltaics technology, the rays are stored and converted to heat your home and provide electricity to run appliances. It is a good idea to make your home as energy efficient as possible before converting to solar power.
In the past the only option when one replaced their windows and did not want to use wood was silver aluminium. As a result, we are left with a legacy of ruined period homes which in some cases are a fire hazard because windows were designed without big enough opening sashes to escape through.
And then they became available in white PVCu which were initially cheap and of low quality and bad design but which went on to become the excellent quality they are today and designed to suit the house not the pocket.
House owners now have a much better choice of door and window materials and styles to choose from.
For numerous years, there has been a very big marketplace for patio doors, which offer convenience and provide light and air into a home whilst offering a extremely effective heat barrier when shut. The peak of the patio door marketplace are Bi fold doors which provides good versatility and great aesthetics. If you are thinking of purchasing patio doors you should consider investing in a bifold door.
Bi fold doors can be organized to span a very wide opening or smaller spaces, behaving when closed as a glass wall to allow in enhanced light and to provide panoramic views over the outside scene or garden. The complete wall can be in effect removed by opening the complete doors seamlessly integrating the room into the external space. They are also ideal for increasing space in limited situations such as an opening onto a balcony in a small flat.
When fully opened the doors zig-zag compact either to the left or right or split into both sides therefore limiting their intrusion into the room or outdoor space. If full opening is not required the doors can configured as french style doors or even as a single opening door.
Specialist Bifold Door companies offer the product in hardwood, PVCu, aluminium and aluminium clad timber in a wide range of finishes and colours. It is especially appealing in aluminium clad timber where the choice of colour on the maintenance-free aluminium outside can complement your homes exterior whilst the warmth and grain of the woods can enhance any interior.
Weddings are a time for festivity and nothing sets the mood better than the right music. Although the ceremony itself often reflects the romance of the classical era, when it comes to the party afterward people want to rock it out, making it a memorable event that brings out the laughter, love, and joyfulness everyone is feeling. Therefore, the selection of wedding music or, better yet, wedding instrumentalists can become an important choice.
You’ve got a lot of options, and canned music could work okay, but by the time someone agrees to run it and the music is collected the result is less than desirable. DJs are more common and they provide the equipment and music picks preferred, but can be pricey with less than outstanding outcomes in some cases. For who really want something special, nothing beats the sound of a live dance band that can react and respond at once to the wants of party-goers and cost is often equal to that of a good DJ. The question then becomes what kind of band or instrumentalists to hire that will leave guests in awe and remembering the event for some time to come.
For those who really want to “kick it up a notch” and are planning a Florida wedding, there are many choices, but one new option is employing a steel drum band like Reel Ting. For those unacquainted with this type of music, it brings the sounds of the Caribbean to life with a Reggae sound that delivers the music of the islands into any celebration space and much more. And, with its resonance, feet can’t quit moving.
Many wedding players, like Reel Ting, are not limited to when it comes to music. Classic music played on steel drums provides a twist on the original composition that is not only unusual, but produces pretty, tuneful music that is especially unique. When the party kicks into high gear, however, they are more than prepared to enliven the party with a beat that will ensure party-goers never want to stop. With the options provided by steel drum bands, feeling like one is on a tropical island can be experienced regardless of where the event is held.
When employing any wedding band it’s important that sufficient experience and references are offered and that they are checked well. After all, a couple has only one chance in their life-time to do it well so ensuring that the greatest band is on the job for the event will save much worry. For instance, a steel drum band like Real Ting with ten years of experience and many letters of testimonial can reassure engaged couples that their event will be a unforgetable experience.
The right wedding musicians should bring flair, flamboyance, talent, and professionalism to any event. Florida is lucky in that it has many alternatives for live music, but perhaps it is luckiest for the talented steel drum bands, like Reel Ting, that are based there. For any couple planning to marry, whether residents Florida or those traveling in for a destination wedding, it should be a first choice to make the occasion unforgettable and matchless.
Are you looking for groomsmen gifts that match your groomsmen’s personalities? Consider personalized groomsmen gifts such as shot glasses, drinking glasses, or flasks. These gifts are perfect for many guys, from the college-age bachelor who buys the cheapest beer to the wine connoisseur who enjoys a drink after work. The classy and sophisticated touch of engraving shows that a lot of thought went into choosing the perfect groomsmen gifts.
Engraved barware can be elegant and sophisticated, or it can be cool and laid-back, just like your groomsman. Choose engraved barware according to each of your groomsman’s individual personalities and tastes. By choosing to give gifts with a drinking theme, you’re still able to choose the perfect personalized gift for each of your groomsmen.
The range of engraved barware might surprise you - from flasks and sports logo glasses to coasters and bottle openers. Drinkware and bar accessories will help him liven up parties and relax at the end of the day. Whether your groomsman prefers wild shindigs, a quiet evening in, or watching his favorite team on TV with a bottle of his favorite beer, personalized glasses can help him do it in style. No matter your groomsman’s style or preferred drink, you can find the perfect engraved barware to match it.
Pour a round to celebrate your wedding with engraved shotglasses or tavern tankards. This gift will be perfect not only to remind your groomsmen of your wedding day long after it’s passed, but also to mark the occasion during the night of your bachelor party or the evening before the big day. These gifts are sure to be enjoyed over and over again. Drink in style by giving personalized drinkware as groomsmen gifts.
If you are like many people today, you may be having trouble making ends meet or are living paycheck to paycheck. If you find yourself unable to pay your mortgage on your primary or second home, you may face major consequences. These consequences vary by state, province, and country, so you must be sure to completely understand them.
For instance, when you default on Spanish mortgages, there are certain consequences. If you are not a Spanish citizen but own a home in Spain, you may think its still possible to easily walk away from the mortgage with no consequences whatsoever. This was especially true if the homeowner was not a Spanish citizen and the home was a vacation home or second residence. But now Spanish banks have become more aggressive about enforcing mortgage terms for all homeowners, even non-Spanish citizens.
In case a homeowner must default on a Spanish mortgage, turning over the home to the bank is often an option. This simple option will save the homeowner a lot of money in court costs and additional interest on the home loan. You cant just turn the keys over to the bank without arranging it, however. The bank has to accept your offer, and they are under no obligation to do so. The bank is more likely to accept the home back from you if you have had a true hardship that has affected your ability to make payments on your Spanish mortgage. An example of such a hardship would be the death of a spouse or another situation that has caused your income to be drastically cut.
If despite your attempts to negotiate a home turnover, the bank refuses your offer, you must then sell your home. You should try to get as much from the home sale as you can, as you will still be responsible to the bank for any shortfall between the home sale amount and the remaining amount on your Spanish mortgage. If the shortfall is significant, the bank will be much more likely to pursue you for that amount. But the bank can legally attempt to collect any amount from you. This includes placing liens on any assists you may have, such as investment portfolios, your primary residence, and any other property you own that has value. Although it may take years to collect on the shortfall by going through the court systems, the bank that holds your Spanish mortgage will not give up until they do.
Even if defaulting on your Spanish mortgage is inevitable, you should work with the bank as much as possible as soon as you know you must default. Working with the bank that holds your Spanish mortgage can result in a fair settlement that benefits both you and the bank with as little impact on your other assets or financial holdings as possible.
It is very important that you choose a good driving instructor when you learn to drive. It is important you get the best advice and are as well prepared as possible before you hit the open road.The first step in becoming prepared is hiring a professional driving instructor. Choosing a good instructor is essential to learning to become a good driver. The perfect driving instructor should be registered with the (DSA) which stands for Driving Standards Agency. The instructors that are not registered with the Driving Standards Agency, can not charge you for their services. Instructors registered with the DSA are known as ADI (Approved Driving Instructors).
A good instructor will teach you all aspects of driving. How to parallel park correctly, drive in traffic, how to properly make a stop, how to use your indicators, how to drive on the highways, and much more. Another reason to choose an approved instructor Any ADI will have a green certificate on their windscreen. A trainee instructor will have a provisional pink certificate. The DSA has rigourous standards and tests to pass before approving any prospective instructor. Before being allowed to instruct you any trainee must pass a comprehensive driving test and have a clean license for 4 years beforing being approved.
A good instructor will get you to pass the test quickly and easily. You will then be ready to hit the open road. Car insurance is espensive but it is ilegal to drive on the road without it. A good source of young driver insurance is from Coverbox. This insurance is know as pay as you drive insurance. Coverbox offer a service that you only pay for the miles you driving with driving at the most dangerous times like the middle of the night being much more expensive to reflect the higher risk.
In the past the only choice when one replaced their windows and did not want to use wood was grey aluminium. Consequently, we are left with a legacy of ruined period homes which in some cases are a fire hazard because windows were fashioned without big enough opening sashes to escape through.
Then they became available in white PVCu which were initially cheap and of poor quality and poor design but which went on to become the excellent quality they are today and designed to suit the house ” not the pocket.
As the old-fashioned designs become obsolete, house owners now have a plethora of window and door styles and materials to choose from.
The patio door market has been very big for many years because they offer an very good and convenient solution to let light and air in a house. They also provide an outstanding thermal barrier when closed. The acme of the patio door market is the Bifold door which offers good versatility and great aesthetics. If you are thinking of purchasing patio doors you should consider investing in a bifold door.
Bifold doors can be organized to span a very wide aperture or smaller spaces, behaving when closed as a glass wall to let in enhanced light and to provide sweeping views over the outside vista or garden. The whole wall can be effectively removed by opening the whole doors seamlessly integrating the room into the outside space. Instead, they can act to broaden available space in restricted areas, such as allowing inclusion of a balcony to form part of a small flat on a clement day or brightening up an otherwise dark nook.
Fully opened, the doors concertina and store compactly to left, right or both sides to limit their intrusion. If full opening is not required the doors can configured as french style doors or even as a single opening door.
Available in many of the latest materials, including hardwood, aluminium, PVCu and aluminium clad timber, this product is available in a large range of colours and finishes from specialist window companies. Although costly, aluminium clad timber, provides you the timber finish inside and the selection of colours and low maintenance options provided by aluminium cladding.
