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08/11/2024

2025 is just around the corner, so we have to ask...have you started planning for your finances? 👀

The future can be filled with possibilities, but without a solid plan in place, those opportunities might just pass you by!

So take this as your reminder to sit down and start planning what's ahead of you! 📝

07/06/2022

When people start businesses they are often so concerned with making sure that it will be a success that they don’t dare to think about how they would ideally like to leave the business.

This is understandable. Starting a business means taking risks, and it is only right that in the early stages the owners focus on the day-to-day Issues that will affect the performance of their company, or how to grow.

There does come a time though where business owners can take a more long term view because they have built a successful business, and want to ensure that when it is time for them to leave it is done in the most efficient way for both of them and the company.

Exit strategies from businesses come in different forms. Businesses can be sold either to existing staff or on the open market. Often business owners wish to keep it in the family and pass the business onto children. Sometimes, business owners simply choose to close the business down.

In all of these cases it is important to plan for the exit of your choice - making sure that it is done at a time that is right for all parties, and in a way that benefits you and your family financially.

If you have a business and you are thinking about how you would want to leave or pass it on, working with professionals from the finance industry can help you to get the business in the best shape for sale or exit. Speak to a financial adviser if you want to know how they can help you plan for leaving your business.

08/04/2022

A huge thank you to and LDC Manchester for letting me take part in the final leg of their walk to raise funds for the Ukrainian Humanitarian Appeal. The walk ended at the amazing .

06/04/2022

Today is the first day of the new financial year, and - unlike the rubbish actual New Year in January - it brings all sorts of useful things with it for people to use:

- ISA Allowance of £20,000
- Pension Annual Allowance of up to £40,000
- Capital Gains Allowance of £12,300
- Personal Allowance of £12,570 (unless your income is over £100k!)
- Dividend Allowance of £2,000

These allowances are as close as you can get two gifts from the tax service, and a very useful for people who are looking to build a personal wealth and give them a greater degree of financial independence.

Your financial advisor will be able to explain to you how each one of these works and how to make the best use of them in order to build the future you want for yourself and your family.

-being

22/03/2022

Over the last few years investors have started to ask more questions about where their money is being invested in what type of businesses it supports.

As people become more socially aware of problems around the world they want to know that the pension they are investing in does not go against their ethical principles.

Environmental Social Governance (ESG) investing is becoming more popular among investors, and more important as the world faces new challenges. The ESG score of an investment measures the sustainability of an investment against criteria such as the carbon emissions of the company a fund invests in, the human rights records of the countries it invests in, or the diversity within the companies.

This does two things for investors. Firstly, it allows them peace of mind in knowing that their money is not invested in something that they stand against. Secondly, by ensuring that companies who are looking for investment comply with ESG standards it means that your pension fund can be used to make positive changes to the world.

When you speak to your financial advisor, tell him what your ethical views are and ask about ethical investing.

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08/03/2022

Happy International Women’s Day!

Fordham Financial Planning wouldn’t exist without the help and support of one woman in particular, and the business name was chosen to reflect that and to thank her (but that’s a story for another day).

According to a survey in 2020, only 12% of women between 18 and 35 said they would seek financial advice compared to 21% of men in the same age group. This is despite nearly a quarter of women saying they worry about money.

Historically, the industry has not done enough to help women and give them the same access to advice that men have had. This is changing, but can still improve.

Financial advice is about protecting what you have, and building the future you want for yourself and the people important to you. It is important that you work with an adviser who not just knows about financial matters, but is also someone who you can trust and open up to about your goals and also your concerns.

If you have ever been put off seeking advice for any reason, often the best thing to do is speak to friends and ask for recommendations. That way they can share their experience and it will help you to find the right person to help you to plan your future.

25/02/2022

It’s our birthday!

A year ago today I received an email telling me that the paperwork for the new practice was complete and Fordham Financial Planning was live.

I had spent several years in the industry, but wanted my own business so I could work with business owners and professionals to help turn their hard work into financial prosperity, and for them to build the future they want for them and their families.

I am grateful to all of my clients who joined in my first year, and all the businesses who helped me along the way.

I am looking forward to what year two brings.

18/02/2022

One of the biggest mistakes that people who handle their own investments make is to make changes to their portfolio too often.

This is especially true in times of market volatility.

Fear and impatience means that people try to protect their investments from market downturns by taking the money out of the stock market, and thinking that they will know when it is time to reinvest.

The problem is that even professionals struggle to time the market, and if you miss the market recovery you will have done permanent damage to the value of your investment.

If you are investing for your medium to long term future, and your investment has an appropriate risk level for you then short term volatility should not be a concern.

By working with a financial adviser you can avoid these mistakes, which will improve the long term health of your investments.

16/02/2022

Let me tell you one of the many reasons why pensions are amazing.

As well as helping you save for your future, they can also help you to restore your child benefit if you earn over £50,000.

The rule is that if one member of the household earns over £50,000 then there is an income tax charge applied to the benefit. The charge is 1% of the child benefit for every £100 you earn over £50,000.

However, if you make contributions to a pension you can restore amount you receive as HMRC calculates your income as your ‘adjusted net income’ – the total taxable income after allowances and tax reliefs are applied.

You get tax relief on your personal contributions, so you may be able to restore your child benefit.

Here’s an example: If you earn £56,000 per year and have one child, you will receive £1099.80 in child benefit payments, but you will be charged £659.88 because of your income.

A personal contribution of £4800 would be grossed up by HMRC to £6000, meaning that you got £1200 of tax relief at 20%, and you will not pay the child benefit charge so you will save £659.88.

You will get a further £1132 in tax relief as a higher rate tax payer.

Therefore your £6000 contribution will have in effect cost you £2808.12!

A financial adviser will be able to help you with more information.

15/02/2022

This is a pretty good start to the day.

08/02/2022

Over Christmas I discovered this. It’s a hot sauce that I had seen people talking about online.

I tried it and now I’m hooked. You can tell it’s made by someone who really loves what they do.

Now I have it on everything, and I’ve even started buying it as gifts for people.

You can buy it here https://worldfamoushotsauce.co.uk/

Another great thing about this business is the story of how it came into being. Elliot’s job was ending and he made the decision to start a sauce company from scratch. You can read about it here https://www.google.com/amp/s/www.manchestereveningnews.co.uk/whats-on/food-drink-news/haciena-dj-hot-sauce-magnate-19913791.amp

04/02/2022

February is a very good time to review your finances. January (all 40 days of it) is out of the way and most people’s spending has returned to normal after the Christmas period.

It is also a good time to look at your finances because the end of the tax year is approaching. The tax year ends on 5 April. From 6 April the tax man will give you a new set of allowances, but by reviewing your finances now you can make sure you make the most of 2021/22, before looking at what you can do in the new tax year to build your personal wealth.

Don’t leave it until the last minute. Start your financial planning now so you can make the most of your finances and build your future.

Address

Manchester

Website

http://www.fordhamfinancialplanning.com/

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