Money Tips Daily By Charles Kelly, Former Ifa And Author Of Yes, Money Can Buy You Happiness.

In the UK, inheritance tax can take a significant portion of your estate, leaving less for your loved ones. However, with careful planning through wills and trusts, you can mitigate this burden. For more expert advice on managing your finances, subscribe to Charles Kelly Money Tips Podcast on YouTube or email charles@charleskelly.net to meet a specialist adviser. Watch full YouTube interview: https://youtu.be/-SfqPiXPTbg Creating a properly drafted will ensures your assets are distributed according to your wishes, potentially avoiding intestacy rules that might increase your tax liability. Including trusts in your estate planning is a powerful tool to protect your wealth. Trusts can help reduce inheritance tax by transferring assets out of your estate, placing them in the hands of trusted individuals for your beneficiaries. Key strategies include the Nil-Rate Band Discretionary Trust, which allows you to pass on up to £325,000 tax-free, and gifting assets during your lifetime, which can also reduce the value

How to Protect Your Pension Fund from a Stock Market Crash Worried about the impact of a stock market crash on your pension fund? You're not alone. Market volatility can significantly affect your retirement savings, but there are strategies you can implement to safeguard your investments. 1. Diversify Your Portfolio: One of the best ways to protect your pension fund is through diversification. By spreading your investments across different asset classes—such as bonds, real estate, and cash—you reduce the risk of a market downturn affecting your entire portfolio. Diversification ensures that even if one asset class takes a hit, others may remain stable or even gain value. 2. Regularly Rebalance Your Portfolio: Market conditions change over time, so it's crucial to regularly review and rebalance your portfolio. This involves adjusting your asset allocation to maintain your desired level of risk. Rebalancing helps you lock in gains from outperforming assets and reinvest them into underperforming ones, ma

How to Protect Your Pension Fund from a Stock Market Crash Worried about the impact of a stock market crash on your pension fund? You're not alone. Market volatility can significantly affect your retirement savings, but there are strategies you can implement to safeguard your investments. 1. Diversify Your Portfolio: One of the best ways to protect your pension fund is through diversification. By spreading your investments across different asset classes—such as bonds, real estate, and cash—you reduce the risk of a market downturn affecting your entire portfolio. Diversification ensures that even if one asset class takes a hit, others may remain stable or even gain value. 2. Regularly Rebalance Your Portfolio: Market conditions change over time, so it's crucial to regularly review and rebalance your portfolio. This involves adjusting your asset allocation to maintain your desired level of risk. Rebalancing helps you lock in gains from outperforming assets and reinvest them into underperforming ones, ma

Why Do We Pay So Much Tax in the UK and What Can You Do to Reduce Your Tax Bill Legally? Taxes in the UK can feel overwhelming, from income tax and National Insurance to VAT and council tax. There are a raft of business taxes, landlord tax hikes under Section 24, as well as taxes on your savings, Capital Gains Tax and Inheritance tax. But why do we pay so much tax? The answer lies in funding public services like the NHS, education, and infrastructure. High taxes are designed to support the welfare state and maintain social programs. Watch video on YouTube - https://youtu.be/PZ9IFiI2Tio 10 Money Saving Tips However, there are legal ways to reduce your tax bill. Here are 10 money-saving tips from Charles Kelly Money Tips Podcast: By staying informed and using these strategies, you can legally minimize your tax liabilities and keep more of your hard-earned money. For more tips on managing your finances and reducing your tax bill, subscribe to Charles Kelly Money Tips Podcast on YouTube!

Why Do We Pay So Much Tax in the UK and What Can You Do to Reduce Your Tax Bill Legally? Taxes in the UK can feel overwhelming, from income tax and National Insurance to VAT and council tax. There are a raft of business taxes, landlord tax hikes under Section 24, as well as taxes on your savings, Capital Gains Tax and Inheritance tax. But why do we pay so much tax? The answer lies in funding public services like the NHS, education, and infrastructure. High taxes are designed to support the welfare state and maintain social programs. Watch video on YouTube - https://youtu.be/PZ9IFiI2Tio 10 Money Saving Tips However, there are legal ways to reduce your tax bill. Here are 10 money-saving tips from Charles Kelly Money Tips Podcast: By staying informed and using these strategies, you can legally minimize your tax liabilities and keep more of your hard-earned money. For more tips on managing your finances and reducing your tax bill, subscribe to Charles Kelly Money Tips Podcast on YouTube!

After months of dithering, the Bank of England has finally cut the base rate to 5 per cent, the first time the central bank has voted to cut the base rate since 2020. On seven consecutive occasions the central bank voted to hold rates at 5.25 per cent between August 2023 and June 2024, despite falling inflation. There had been 14 consecutive base rate hikes since December 2021. Watch video version - https://youtu.be/2QM8OSUb4OY?si=4Lg1x8qwnXcD_pwb The bank’s successive interest rate rises between December 2021 and August 2023 were bad news for borrowers but good news for savers. The average two-year fixed mortgage rate is now 5.78 per cent, according to Moneyfacts, and the average five-year fix is 5.39 per cent. Right now, the lowest five-year fix is 3.99 per cent and the lowest two-year fix is 4.42 per cent, but lenders have already started cutting rates, but beware for excessive arrangement fees.  Savers Rates Say goodbye to great savers deals, including Santander's 5.2 per cent special edition easy-acc

Bank Of England FINALLY Cuts Base Rates By 0.25% To 5% - Good News For Mortgage Borrowers After months of dithering, the Bank of England has finally cut the base rate to 5 per cent, the first time the central bank has voted to cut the base rate since 2020. On seven consecutive occasions the central bank voted to hold rates at 5.25 per cent between August 2023 and June 2024, despite falling inflation. There had been 14 consecutive base rate hikes since December 2021. Watch video version - https://youtu.be/2QM8OSUb4OY?si=4Lg1x8qwnXcD_pwb The bank’s successive interest rate rises between December 2021 and August 2023 were bad news for borrowers but good news for savers. The average two-year fixed mortgage rate is now 5.78 per cent, according to Moneyfacts, and the average five-year fix is 5.39 per cent. Right now, the lowest five-year fix is 3.99 per cent and the lowest two-year fix is 4.42 per cent, but lenders have already started cutting rates, but beware for excessive arrangement fees.  Savers Rates Say good

The Labour Party’s Renters' Rights Bill 2024 is poised to bring significant changes to the UK’s rental market, impacting both tenants and buy-to-let landlords. Understanding these changes is crucial for landlords to navigate the evolving landscape effectively.   Watch video version - https://youtu.be/Wx1HXgVW1bM   Key Changes Proposed in the Renters' Rights Bill 2024   1. Enhanced Security for Tenants The bill aims to provide tenants with greater security by abolishing Section 21 “no-fault” evictions. This means landlords will no longer be able to evict tenants without a valid reason, making it more challenging to regain possession of their properties.   2. Rent Controls One of the most contentious aspects of the bill is the introduction of rent controls. The government plans to cap rent increases, tying them to inflation or another measure. This change is intended to prevent excessive rent hikes but may limit the profitability for landlords.   3. Mandatory Property Standards The bill also proposes st

The Labour Party’s Renters' Rights Bill 2024 is poised to bring significant changes to the UK’s rental market, impacting both tenants and buy-to-let landlords. Understanding these changes is crucial for landlords to navigate the evolving landscape effectively.   Watch video version - https://youtu.be/Wx1HXgVW1bM   Key Changes Proposed in the Renters' Rights Bill 2024   1. Enhanced Security for Tenants The bill aims to provide tenants with greater security by abolishing Section 21 “no-fault” evictions. This means landlords will no longer be able to evict tenants without a valid reason, making it more challenging to regain possession of their properties.   2. Rent Controls One of the most contentious aspects of the bill is the introduction of rent controls. The government plans to cap rent increases, tying them to inflation or another measure. This change is intended to prevent excessive rent hikes but may limit the profitability for landlords.   3. Mandatory Property Standards The bill also proposes st

Summer school holidays are here, and this is the perfect time to explore the UK with your family without breaking the bank.   Watch YouTube video: https://youtu.be/IWMz3-7LuT0   Here are 20 free activities to enjoy together:   1. Visit the British Museum in London. 2. Explore the Natural History Museum. 3. Take a stroll in Hyde Park. 4. Discover the wonders of the National Gallery. 5. Enjoy a day out at the beach. 6. Hike in the Lake District. 7. Wander through Edinburgh’s Royal Botanic Garden. 8. Explore the historic streets of York. 9. Visit the Tate Modern in London. 10. Have a picnic in Richmond Park. 11. Explore the ruins of Fountains Abbey. 12. Walk along Hadrian’s Wall. 13. Discover street art in Bristol. 14. Visit the Scottish National Gallery. 15. Enjoy a day at the V&A Museum. 16. Explore the beautiful Kew Gardens. 17. Walk through the scenic Peak District. 18. Visit Liverpool’s Walker Art Gallery. 19. Explore the stunning landscapes of Snowdonia. 20. Discover the history at the Imperial War Mu

Summer school holidays are here, and this is the perfect time to explore the UK with your family without breaking the bank.   Watch YouTube video: https://youtu.be/IWMz3-7LuT0   Here are 20 free activities to enjoy together:   1. Visit the British Museum in London. 2. Explore the Natural History Museum. 3. Take a stroll in Hyde Park. 4. Discover the wonders of the National Gallery. 5. Enjoy a day out at the beach. 6. Hike in the Lake District. 7. Wander through Edinburgh’s Royal Botanic Garden. 8. Explore the historic streets of York. 9. Visit the Tate Modern in London. 10. Have a picnic in Richmond Park. 11. Explore the ruins of Fountains Abbey. 12. Walk along Hadrian’s Wall. 13. Discover street art in Bristol. 14. Visit the Scottish National Gallery. 15. Enjoy a day at the V&A Museum. 16. Explore the beautiful Kew Gardens. 17. Walk through the scenic Peak District. 18. Visit Liverpool’s Walker Art Gallery. 19. Explore the stunning landscapes of Snowdonia. 20. Discover the history at the Imperial War Mu

What’s the Biggest Risk in Property Investing? Are you curious about what the biggest risk in property investing is? It might surprise you to learn that the most significant risk isn't the market fluctuations or financial constraints; it's the lack of knowledge and education. Understanding this risk is crucial not only for property investing but for any investment, including stocks and shares. Why is Lack of Knowledge the Biggest Risk? Investing in property or any financial asset without adequate knowledge is like sailing without a compass. Lack of education can lead to poor decision-making, missed opportunities, and significant financial losses. Here’s why: The Solution: Expert Guidance Having a coach to guide and teach you can transform your investment journey. A coach provides: Join Our 6-Week Coaching Programme Our 6-week Legacy Wealth Coaching Program is designed to equip you with the knowledge and skills needed to excel in property investing and beyond. The program includes:

What’s the Biggest Risk in Property Investing? Are you curious about what the biggest risk in property investing is? It might surprise you to learn that the most significant risk isn't the market fluctuations or financial constraints; it's the lack of knowledge and education. Understanding this risk is crucial not only for property investing but for any investment, including stocks and shares. Why is Lack of Knowledge the Biggest Risk? Investing in property or any financial asset without adequate knowledge is like sailing without a compass. Lack of education can lead to poor decision-making, missed opportunities, and significant financial losses. Here’s why: The Solution: Expert Guidance Having a coach to guide and teach you can transform your investment journey. A coach provides: Join Our 6-Week Coaching Programme Our 6-week Legacy Wealth Coaching Program is designed to equip you with the knowledge and skills needed to excel in property investing and beyond. The program includes:

What will this mean for Landlords and Tenants? As Labour's policies start to unfold, both landlords and tenants are keen to understand the potential impacts. Watch video version @charleskellymoneytips ⁠https://youtu.be/00ha4KkiCAw⁠ Labour has long championed affordable housing and tenant rights. Their manifesto includes ambitious plans to build 1.5 million new homes over the current parliament, introduce rent controls, and increase ‘protections’ for tenants. This could significantly shift the landscape for both homeowners and the buy-to-let market. The Renters Reform Bill will be resurrected and will almost certainly include an end to Section 21 ‘no fault’ evictions and more ‘secure’ tenancies. Impact on the Housing Market 1. Increased Housing Supply: Labour's pledge to build more homes aims to address the chronic housing shortage. This could stabilize or even reduce house prices, making it easier for first-time buyers to enter the market.   2. Affordability: By increasing housing supply, Labour hop

What will this mean for Landlords and Tenants? As Labour's policies start to unfold, both landlords and tenants are keen to understand the potential impacts. Watch video version @charleskellymoneytips https://youtu.be/00ha4KkiCAw Labour has long championed affordable housing and tenant rights. Their manifesto includes ambitious plans to build 1.5 million new homes over the current parliament, introduce rent controls, and increase ‘protections’ for tenants. This could significantly shift the landscape for both homeowners and the buy-to-let market. The Renters Reform Bill will be resurrected and will almost certainly include an end to Section 21 ‘no fault’ evictions and more ‘secure’ tenancies. Impact on the Housing Market 1. Increased Housing Supply: Labour's pledge to build more homes aims to address the chronic housing shortage. This could stabilize or even reduce house prices, making it easier for first-time buyers to enter the market.   2. Affordability: By increasing housing supply, Labour hopes

Mortgage rates are coming down despite the Bank of England holding the base rate at a 15 year high at 5.25%. In this episode we discuss:   Watch full video at Charles Kelly Money Tips Podcast -  https://youtu.be/zgHqeA_hhUA   Section 24 Landlord Tax Hike Interview with Chartered Accountant and property tax specialist who reveals options and solutions to move your properties from your own name into a limited company or LLP whilst mitigating the potential HMRC pitfalls. Email charles@charleskelly.net for a free consultation on how to deal with Section 24. Watch video now: https://youtu.be/aMuGs_ek17s 3 Steps To Unlocking Financial Freedom! Could you do more with your money and finances? I want to take you to the next level, help you get control of your money, learn how to invest and become financially free. Join me online on my free live money management training Wednesday at 7.00PM. Places are limited, so register now below to avoid disappointment. https://bit.ly/3QPp8IH #finance #moneytraining #m

Mortgage rates are coming down despite the Bank of England holding the base rate at a 15 year high at 5.25%. In this episode we discuss:   Watch full video at Charles Kelly Money Tips Podcast -  https://youtu.be/zgHqeA_hhUA   Section 24 Landlord Tax Hike Interview with Chartered Accountant and property tax specialist who reveals options and solutions to move your properties from your own name into a limited company or LLP whilst mitigating the potential HMRC pitfalls. Email charles@charleskelly.net for a free consultation on how to deal with Section 24. Watch video now: https://youtu.be/aMuGs_ek17s 3 Steps To Unlocking Financial Freedom! Could you do more with your money and finances? I want to take you to the next level, help you get control of your money, learn how to invest and become financially free. Join me online on my free live money management training Wednesday at 7.00PM. Places are limited, so register now below to avoid disappointment. https://bit.ly/3QPp8IH #finance #moneytraining #moneymanagem

Interview with Theodore (T.J.) van Gerven CFP, as Boston-based Certified Financial Planner and podcaster covering the subject of “How to maintain financial independence and create growth and income streams from investments”. In this episode we discuss: ·        Money Talks But Wealth Whispers   Watch full video at Charles Kelly Money Tips Podcast - https://youtu.be/VzpfEsAUwkw   Theodore Joseph (T.J.) is the founder of Modern Wealth Builders, that aims to help maximize your resources and he is passionate about helping millennials to use money intentionally as a tool to build toward financial flexibility while accomplishing various goals on the path to independence.   Website: https://modernwealthbuilders.com YouTube: https://www.youtube.com/channel/UCxejrzu3vF5dc9V3tb9uOoQ Nectarine.com: https://hellonectarine.com/r/moneytips   Section 24 Landlord Tax Hike Interview with Chartered Accountant and property tax specialist who reveals options and solutions to move your properties from your own nam

Interview with Theodore (T.J.) van Gerven CFP, as Boston-based Certified Financial Planner and podcaster covering the subject of “How to maintain financial independence and create growth and income streams from investments”. In this episode we discuss: ·        Money Talks But Wealth Whispers   Watch full video at Charles Kelly Money Tips Podcast - https://youtu.be/VzpfEsAUwkw   Theodore Joseph (T.J.) is the founder of Modern Wealth Builders, that aims to help maximize your resources and he is passionate about helping millennials to use money intentionally as a tool to build toward financial flexibility while accomplishing various goals on the path to independence.   Website: https://modernwealthbuilders.com YouTube: https://www.youtube.com/channel/UCxejrzu3vF5dc9V3tb9uOoQ Nectarine.com: https://hellonectarine.com/r/moneytips   Section 24 Landlord Tax Hike Interview with Chartered Accountant and property tax specialist who reveals options and solutions to move your properties from your own nam

The BRICS group, comprising Brazil, Russia, India, China, and South Africa, represents a formidable alliance in the global economic landscape. Formed in 2006, this coalition of emerging economies has steadily gained influence, shaping international trade and economic policies. Let's delve into the significance and impact of BRICS on the world stage.   Join me online on my free live money management training – 3 Steps To Financial Freedom -  Wednesday at 7.00PM. Places are limited, so register now Click: https://bit.ly/3QPp8IH   BRICS: An Overview BRICS stands for Brazil, Russia, India, China, and South Africa. These five countries together represent about 42% of the world's population, 23% of global GDP, and around 30% of the world's land area. The group's primary goal is to foster economic growth and development, facilitate trade, and promote peace and security among member states.   Watch YouTube Video - https://youtu.be/772wkB3pfBw   Economic Powerhouse The BRICS nations are some of the fas