Richard Cook. The Investment and Retirement Coach

17/09/2024

Whats your vision for retirement? You need to know as without that vision you cant develop a plan to ensure that your assets can support the vision

05/09/2024

Big day. Back to college at 80 plus. Pershore College. Level 2 Certificate in Counselling Skills. Building additional skills to help clients make a confident transition to retirement.

24/12/2023

Get Up To A 10x INCREASE In Revenue With Just ONE Discovery Call

23/06/2023

https://youtu.be/ZkWoTCEArmA
If you are earning £100,000 or more you should know that HMRC are rubbing their hands together with glee! To find out why and how to stop them watch my short video.

If you've hit £100k in earnings you'll need to know how to avoid paying 60% of every pound over and above that figure, to HMRC. Contact me to find out how. ...

19/02/2023

Hot off the Grill! The Beefy Boys are doing a Truck Stop at Sherdons | April 8th high noon to 6:00pm.

If you don’t know much about the Beefy Boys, check out their website https://thebeefyboys.com and their page https://www.facebook.com/TheBeefyBoys/ and you’ll see why we’re excited about having these local legends at Sherdons.

So how about legendary food, something to wash it down in our newly re furbished clubhouse and outdoor dining area, some good old fashioned fun playing Pirate Adventure Golf with friends and family or a free go in our Trackman range?

It’s going to be a great day, so look out for more news over the next few weeks.

07/03/2022

With the financial year-end looming, I have put some thoughts together on tax planning for you.

Some tax year planning thoughts With only four weeks to go before the end of the tax year, I thought it would be useful to let you have some year-end tax planning thoughts. Pension planning If you are over 50 and a higher rate tax-payer either with invested capital or an excess of income over expend

25/02/2022

Are you worried about what the Ukrainian conflict will do to your hard earned investments?

I have today issued a briefing to members of my Investment and Retirement Guidance Club.

If you would like a copy just message me or pop your contact details in the comments.

Thanks, Richard

21/05/2021

Are you a small business? 💼

If you’re looking to support TIC+ in providing to children and young people living in then it’s easier than ever to donate 💰

Through Work for Good small businesses can donate to their chosen charity through their sales.

Even a little can help us make a HUGE difference.

Find out more 👉 www.workforgood.co.uk

21/05/2021

Let’s get one thing clear, it’s your money and your future. No one will take as much interest in it and pay it as much attention as you.

So where do you start? If you don’t know what you expect or want your retirement to look like how can you expect anyone to get you there and then keep you on track?

If you are more than 10 years away from retirement this is not too difficult. You should have a ball-park idea of when you would like to retire, the lifestyle you would like in retirement, and what it is likely to cost you. Most reasonably competent financial advisers should be able to help you draw up a game plan, guide you through the implementation process and set up an investment strategy. Make sure they are looking at the full picture and are not just selling an expensive pension plan.

The real issue arises when you get to what I call “The Retirement Risk Zone”. That is the five or so years before you retire or perhaps just start the slowing down process. That is when it is essential that you start to take all this seriously, look at the retirement lifestyle you want and work out what it will cost. If this is you, you might want to read my recent blog: http://ow.ly/whxb50EQi8n

14/04/2021

This is good news particularly for clients in retirement (drawdown) who have chosen to listen to my guidance and whose primary investment strategy is to invest in dividend-focused funds to support all, or a significant part of, their income withdrawals. My recent blog gives further guidance on this, read it here: https://www.theinvestmentandretirementcoach.co.uk/category/featured/

08/03/2021

In a pre-budget announcement MPs called on the Government to overhaul the "entire approach to pension tax relief". They are concerned that the current system unfairly incentivises higher rate taxpayers.

They say:-

"Now is surely the time to address the imbalance of benefits and tax breaks available to the wealthy, whilst ensuring the poorer pensioners are protected from further financial difficulty".

The Chancellor may find it difficult to ignore the views of MPs which would save the Treasury more than £20billion a year and could be popular with the bulk of the electorate.

If you are a higher rate taxpayer not already exploiting the current favourable tax regime you are missing a major opportunity that may not be there for long.

The rules are complex but broadly speaking the employed can contribute up to 100% of their earnings annually, less any existing contributions, and can go back three years to sweep up any unused relief.

Only last week I guided one client through the process of achieving a gross investment in his pension plan of £18750 at a net cost, after tax relief, of just £7500. Admittedly a special set of circumstances but it just shows what is possible. The money was previously sat in a Cash ISA earning next to nothing.

This particularly relevant to anyone approaching, or over, age 50. As you can access your pension fund at age 55 you are no longer having to tie your money up forever in order to benefit from the tax relief.

If you would like to know more just use this link to book a "no cost" Zoom meeting and we will quickly find out whether it is for you.http://ow.ly/uoYU50DQ1s2

05/02/2021

Could you wipe out your 40% tax liability for 2020/2021? Find out if you qualify.

Let’s cut straight to the chase. This is not for everyone. It is only worth exploring further if you can answer “YES” to ALL of the following questions:

Do you pay higher rate tax on earned income?
Are you age 50 or over?
Do you already have medium-term investments/savings?
Do you expect to revert to paying only basic rate tax at some time in the next 10 years?

This is totally legal, known to HMRC, and not tax avoidance. It utilises the pension tax changes introduced in 2015.

If you are over 50, a higher rate tax-payer, and have savings/investments this is a “no brainer”. Why would you not claim back all the tax you have paid at 40% and then in a few years (or even immediately if you are over 55) withdraw 25% tax-free and the balance when you only pay tax at 20%?

A post of this nature is not the right place to go into details as there are a number of issues which need to be considered. If you are interested we can set up a short Zoom conversation to find out if it is for you. Don't worry if you have an existing adviser. Implementation can either be through him/her or via one of the one-line platforms such as Hargreaves Lansdown. You can schedule your call with me here: http://ow.ly/rwFf50Dq1zW

15/01/2021

Divorce is such an emotional time and people have so much to think about that they just can't focus on pensions or for that matter other financial issues. Legal advice is expensive and adding financial adviser fees to the mix is just impossible for many.

Research from Legal and General found that more than a quarter of women (28%) are giving up pension rights on divorce, this is just not right.

Read my blog on this subject here: http://ow.ly/6hec50D6dKI

06/01/2021

Hargreaves Lansdown issued an update on this on the Threadneedle European Select Fund on the 14th Dec.

There is a change in the management structure which HL refer to as "disappointing". Having said that the fund remains on the Wealth Shortlist and the new management team is both experienced and well resourced.

There are four European Funds on the Wealth Shortlist all of which deserve their place and I can see no reason to suggest that any switches are necessary.

The Threadneedle European Select Fund will remain my preference for new investors looking for exposure to Europe.

If you are looking for greater diversification read my full blog on the subject here: https://www.theinvestmentandretirementcoach.co.uk/

22/12/2020

6 TIPS TO KEEP YOUR PENSION PLANNING ON POINT FOR 2021
New Year Resolutions? What better time to have a look at your pension planning and see how well you are doing particularly after all the 2020 Covid issues? My latest blog will help you keep your pension planning on track in 2021. Read it here: http://ow.ly/foaW50CQV7l

New Year Resolutions? What better time to have a look at your pension planning and see how well you are doing particularly after all the 2020 Covid issues? Give yourself a mark out of 10 on each of the following points. 7 or more and you are doing ok but could still improve. Less than 7 […]

25/11/2020

Are you thinking that your pension plan may provide a solution to temporary financial problems caused by Coronavirus? You may be right but there are some huge mistakes to be avoided and it may be worthwhile taking some advice/guidance before taking action. There are 5 huge mistakes to avoid, to find out what they are click here to read my latest blog: http://ow.ly/aXgE50CthbB

03/11/2020

£500 Cash-back offer – pension transfers
Until 10th January 2021, Hargreaves Lansdown is offering cashback of up to £500 as an incentive to transfer all those old plans to their award-winning Self Invested Personal Pension Plan.
Read my Blog and find out more here: https://www.theinvestmentandretirementcoach.co.uk/500-cash-back-offer-pension-transfers-dont-miss-out/

02/11/2020

Don't you hate the thought of being on a never-ending NHS waiting list?

As much as we love our NHS and their committed staff, it doesn’t look as if it is going to get better any time soon. So, what can be done about it? All is not lost even if you are close to, or in, retirement.

This is not my area of expertise so I have sourced the expert in private medical care James Weaver, to say a few words about the options which may be available to you and what to do if you would like to know more. Read the full blog here: https://www.theinvestmentandretirementcoach.co.uk/dont-you-hate-the-thought-of-being-on-a-never-ending-nhs-waiting-list/