Scottish Daily Mail

What’s your financial priority this year?

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Building my wealth

In November 2019, savings account rates fell to their lowest level in two years.1

When it comes to building your savings over the long-term, this low interest rate environmen­t presents a real challenge. Savings accounts remain the ideal home for short-term financial needs. But if you can afford to tie up your savings for at least five years and are comfortabl­e with the risks involved, then investing could offer the potential for stronger returns in the long run.

Thousands of people across the UK choose to invest their money to build towards their long-term goals. They’ll each have their own reasons; but share one common goal. That is, to grow their wealth. You can do the same. History shows investing for the long-term could provide you with better returns than cash savings accounts.

Order your free guide today, to find out more about how investing works.

I’m retiring soon

The average UK retiree could outlive their savings by just 10 years.2

Retirement planning is not something you should leave until you give up work. It can take years of careful preparatio­n. There could be some big decisions to make.

If you don’t know the facts about your financial situation, how will you know if you can afford to achieve your retirement ambitions? Less than a quarter of savers seek out the help of an adviser to plan their retirement.3 This is despite the huge level of expertise and support a profession­al can offer you.

Getting financial advice through our partner Skipton can help you make informed decisions and plan a fulfilling retirement. Your local adviser can sit down with you to plan what you want to do in retirement, before reviewing how your provisions match up to achieving your goals. And develop a personalis­ed retirement income strategy to support you for the rest of your life.

Protecting my children’s inheritanc­e

44,112 estates are forecast to be subject to inheritanc­e tax over the 2020/21 tax year.4

If the value of your estate is above your personal threshold, in most cases everything above it will be taxed at 40 per cent. And, ultimately, an inheritanc­e tax liability would significan­tly reduce how much your family inherit.

There are a number of ways you can protect your family from a potential inheritanc­e tax bill, and it’s best to act as soon as possible, as some options take several years to take full effect.

Mail Finance works closely with Skipton to help you establish whether you have liabilitie­s and then present tailored solutions to reduce it.

To learn more about how inheritanc­e tax works and your options, order your free guide today.

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