Lowes Magazine 122

INSIDE TRACK

A RECENT REPORT FROM THE FINANCIAL services giant Aegon, shows the pandemic has altered people’s attitude to retirement and renewed their focus on health as well as wealth. A spotlight has been put on health and longevity, with a focus on updating of wills and trusts, and the setting up of Lasting Power of Attorney. Also, there has been a rise in the number of people looking to retire early. For anyone thinking along these lines, it is important to plan ahead. Earlier retirement means your retirement pot will have to last longer. This will require long term planning as well as safe withdrawal strategies to ensure the money doesn’t run out too soon. As the economic and market impacts of the pandemic and the invasion of the Ukraine have illustrated vividly, uncertainty can be just around the corner, and that is without the rising interest rates and high inflation which look set to be with us going forward. For anyone contemplating retirement, there is now an even greater need for robust Independent Financial Advice.

Make your money work. Best bank & building society rates Type Amount Provider Renewed focus on health and retirement

Account

Gross Rate

Contact

Unrestricted instant access accounts Online 1 £1 - £15,000

Zopa

Smart Saver Instant Saver

1.00%

www.zopa.com

£0 - £100,000 Atom Bank

0.90% www.atombank.co.uk

Online 1

Fixed rate bonds Online

Personal 1 Year Bond Account 1.80% Fixed Rate – Issue 7 2 Year Fixed Term Savings Account

1.80%

www.oxbury.com

£1,000 - £500,000

Oxbury

Online Online 1

£1,000 -£100,000 JN Bank £1,000 - £2,500,000 Tandem

2.11% 2.20%

www.jnbank.co.uk www.tandem.co.uk

3 Year Fixed Saver

4.22% if FTSE 100 rises / 0% if it doesn’t

Call Lowes on: 0191 281 8811

4 Year Fixed Term Deposit

Structured Deposit £10,000 - £500,000 AA rated Bank

You may also wish to consider Premium bonds offered by National Savings and Investments (NS&I), maximum £50,000. Whilst no guaranteed interest is earned, they do offer the opportunity for tax free winnings which with ‘average luck’ should return 1% p.a. but with the chance of winning £1million. Measures of inflation - The average change in prices of goods and services over a 12 month period to March 2022 Retail Prices Index (RPI) 9% Consumer Prices Index (CPI) 7% Sources: Providers’ websites, Office for National Statistics, www.thisismoney.co.uk, www.moneysupermarket.com, www.moneyfacts.co.uk 07/04/2022. All accounts subject to terms and conditions. Note: 1 This account is run online using a banking App.

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If you would like to receive further information on any of the subjects featured in this issue please call: 0191 281 8811 , fax: 0191 281 8365 , e-mail: client@Lowes.co.uk , or write to us at: Freepost LOWES FINANCIAL MANAGEMENT . Lowes ® Financial Management Limited. Registered in England No: 1115681. Authorised and Regulated by the Financial Conduct Authority.

3 Lowes.co.uk