Ways we can help
Ways to stay ahead
The Bank of England target for UK inflation is set at 2% per annum and it typically averages around 3%, although it can vary widely as we are seeing now. The level of inflation reduces the future value or buying power of your money so to keep pace with inflation, your savings need to grow at the same average rate, or more than this to beat inflation.
Interest rates on savings through banks or building societies is one way of trying to achieve this but typically these rates will be lower than inflation and this leaves investment over the medium to long term the route most likely to help you beat inflation.
Interest rates on savings through banks or building societies is one way of trying to achieve this but typically these rates will be lower than inflation and this leaves investment over the medium to long term the route most likely to help you beat inflation.
Fundamentally, investing is the key to building wealth over a sustained period. You can invest money in line with your earnings and future goals, whether it helps you to buy a new property, save for your children’s education, or retire early. Without investing, it is not easy to build wealth for the future.
There are various tax allowances available to individuals when it comes to investing and we can help to ensure you are making the most of these. There is also a wide variety of investment vehicles (often known as tax wrappers) with different tax treatments and access levels so it is important to make sure you invest your savings using the one that is right for you.