These are basically products from life insurance firms. They have some features of an insurance owner, but also have features of a savings or investment product . While most people purchase life insurance policies to protect their relatives in case they die, they buy annuities to protect their finances while they are alive.
Reasons To Buy
1. People require to save for a medium to long term aim.
2. People require to insure they have income for a set length of time.
What makes these products a lovely device to save for a long term aim?
Tax Deferred Savings – … Read the rest
Your goals will depend by your personal situation and what you need for the future. For example, you may need to plan for retirement, buy a second home or send your babies to private school. The list is only limited by your imagination.
Financial planning is about building an objective plan for your financial future. You ought to follow these principles to be positive that every aspect of your financial life is covered, and therefore build a solid foundation to meet your goals.
What about financial advice?
This is all based on a common sense approach. Someone can do it, … Read the rest
Living in debt is no laughing matter and the deeper you get yourself into debt the harder and harder it becomes to get your head back above water. If money management is not your strong point or you have been spending more than you earn, then it is very easy to slide into debt and lose control of your finances. If you have total unsecured debts over the sum of 15,000 then it might be worth considering applying for an IVA. IVA stands for Individual Voluntary Arrangement and is designed to help you pay off your debt over a number … Read the rest