Welcome to the Spring edition of E-Smart Money our periodic electronic magazine offering hints and tips for your financial planning.
As at the time of writing the weather is finally beginning to improve a little, and with luck winter will begin to feel like a memory, and spring will arrive. A lot of our clients are focused on the unfolding situation in Ukraine right now, and it is a fearful time for many. That tragedy has increased the financial strains that many are under, with inflation coming back in a way we haven’t seen for well over a decade.
Currently inflation is over 5%, with the expectation it may hit 8% before very long. We haven’t seen inflation at this level this century, and it requires old thinking about how to protect ourselves from the ravages that inflation can inflict on those living on a fixed income. In this issue we review some of the strategies that you can use to avoid the worst affects and protect your family finances..
Of course as inflation rises, so to does the size of the pot required to provide sufficient income in retirement, and we have a look at the various ways that you can not only increase the size of tyour pension, but just how large it needs to be to create a sustainable level of income througout retirement.
As always if there are any issues you would like to discuss, or any questions you would like answered, we would be only too happy to help.
