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Advice Rooms Top 3 Client FAQs Of The New Year So Far

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As we embark on a new year, it’s time to reflect on the recurring questions that have been buzzing within the walls of our advice rooms. Each month, our team will answer the top three most frequently asked questions (FAQs) to provide clarity and guidance for individuals seeking financial insight. Let’s take a closer look at the most asked questions that have marked the beginning of this year.

First up is:

Should I Pay Off My Mortgage or contribute to My Pension?

One of the perennial questions that individuals grapple with is the age-old dilemma of mortgage vs pension savings. This can depend on a number of factors such as your financial position, interest rates, time horizon, risk tolerance and tax implications.

In essence, the choice between paying off your mortgage and saving into your pension is nuanced. It requires a thoughtful analysis of your financial landscape. Consulting with a financial advisor can provide personalised insights, helping you navigate this decision in alignment with your individual circumstances and aspirations.

Next in line:

How Much Life Insurance Do I Need?

The question of life insurance is a poignant one, touching on the core of family and financial stability.

In short, determining the right amount of life insurance involves a comprehensive analysis of your income, debts, and future financial obligations.  It is also essential to compare the market for the best policy.

A financial adviser will work with you to create a personalised plan that ensures peace of mind for you and your loved ones. An adviser will also act as a broker to ensure you are getting the most suitable cover at the most competitive price.

Last but not least:

What is the Best Interest Rate for an ISA?

If you are looking for the best fixed interest rate for ISA’s now is the time! Interest rates are at a 15 year high which could all change throughout the year. There are many great online comparison sites to ensure you get the best  ISA rate available.

Here are some examples:

It is essential to be aware that Individual Savings Accounts in the UK come with an annual contribution limit. The annual ISA allowance is £20,000. This means that you can contribute up to £20,000 across all your ISAs in a tax year.

If you have any questions of your own please feel free book a free conversation with our experts.

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