CHECK OUT OUR PICKS OF THE FINANCIAL NEWS FROM ACROSS THE WEB THIS WEEK

CHECK OUT OUR PICKS OF THE FINANCIAL NEWS FROM ACROSS THE WEB THIS WEEK

1024 576 Peter Deane

In the week of the new tax year, we discuss higher pension contributions, the financial wellbeing of UK workers and how patience can help build your wealth.

BBC News: Ten million people face higher pension payments

On 6th April (Saturday), the new tax year began, bringing an increase to auto-enrolment pension contributions. Employees will now contribute 5% of their salaries to their pension pots, up from 3% previously. Somebody earning £30 000 will contribute an additional £32 per month to their pension. Employer contributions will also increase, from 2% to 3%.

Read the full article here.

LowerMyCharges’ take: The increases in auto-enrolment contributions may seem steep to some people, but everybody needs to save somehow for their retirement, and employer contributions are also increasing.

Mirror: Workers’ mental health suffering as they ‘lose sleep’ over money worries, poll reveals

This week, the Mirror reported on a new survey by GettaSub. The research found that 34% of workers regularly lose sleep over money worries. 59% cited personal financial concerns as the biggest cause of stress in the workplace. Significantly, 57% felt that their management needed to do more to support their financial wellbeing.

Read the full article here.

LowerMyCharges’ take: Money worries are one of the biggest causes of stress in the workplace, with many employees affected. Employers have a duty of care for their employees, but they themselves often don’t know how to help.

Jason Butler: How to build wealth slowly but surely


Jason Butler looked at the importance of patience and low fees in building wealth, pointing to the success and advice of Warren Buffet.

Read the full article here.

LowerMyCharges’ take: Warren Buffet is one of the wealthiest investors in the world and puts much of his success to the power of compounding and low costs. ‘Performance comes, performance goes but fees never falter.’

Lowermycharges.com is a trading name of lower my charges ltd which is an appointed representative of the Wealth Management Group LLP, which is authorised and regulated by the Financial Conduct Authority. FCA number 816339.

 
 


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