A new report says that long term savings are too complex and should be simplified.
If you've ever thought that savings were complicated, you're not alone. Now a report says that this complexity is putting off savers.
You might think of 'savings' as being money you have in the bank, but it's much more complicated than that. According to the Centre for Policy Studies, the reason many of us don't save is that we find it all far too complex.
Pensions and savings are taxed very differently, but they're both aimed at the same market. But the differences between them make it hard for consumers to compare them.
It's not the tax-efficient wrapper, but what's inside your stocks and shares ISA that matters.
Are you thinking of investing in an ISA this year? With interest rates on savings accounts so low and all of us (not just those who are aged 50 or over) able to invest up to £10,200 into an ISA after April 6th, it could be a bumper year for stocks and shares ISAs. Stocks and shares ISAs are popular in part because they have a tax efficient wrapper. But it's what's underneath the wrapper that's important and ISAs that look very similar on the surface can be quite different in reality.
If you need to invest for income, how should you start your planning?
Working out how to invest your money to produce an income can be a challenge, but you may have more options than you realise.
Every year around 400,000 people retire and while some of them have a pension that provides them with a comfortable retirement, many turn to money they’ve invested to boost their income. According to financial advisers, one of the biggest mistakes some people make is that they don't work out in advance how much money they'll need, which means planning to generate income for the shortfall is difficult.
