Dad’s Army comes to Bishops Stortford

Enables IFA’s like nearly every other person of a certain generation know all about the hit BBC comedy series 'Dad's Army' which ran for nine years from 1968 until 1977, then ran, and ran, and ran on TV repeats. The much loved show spawned a full length feature film, a radio series and a musical stage show and now Bishops Stortford’s very own Water Lane Theatre Group production.  At auditions recently they said on Twitter @WaterLaneTG  - Big turnout for our #DadsArmy audition - watch out for this one - it's not what you're going to be expecting!!!!

Enable has agreed to sponsor this delightful local production of Dad’s Army and Mike Cooke from Enable will even be appearing in the theatre show himself. When asked Mike said “ Enable are delighted to be sponsoring a Bishops Stortford production of Dads Army by Water Lane Theatre Company and it looks like I have landed myself a part!! (Stupid boy!!)”

Water Lane Theatre Company is the only amateur Theatre Group in Bishop’s Stortford and they have been performing plays for over 60 years. Every year they put on at least 2 main shows at various locations in and around the town.  If treading the boards is not your thing you can still get involved as an audience, they always have a lot going on whether it's a night of one-act plays, a theatre trip, comedy and variety nights, an improvisation evening or their really popular annual quiz evening. To find out more you can check their website for details.
http://waterlanetheatrecompany.co.uk/

Photo Sources: https://en.wikipedia.org/wiki/Dad%27s_Army#/media/File:Dad%27s_Army.jpg
Mike (middle) starring in Pompeii 2015 courtesy of the Water Lane Theatre company. 

Are the young just bad at saving?

Enable’s IFA’s in Bishops Stortford where interest to see recently that “All age groups, including younger people, are saving more than they used to,” according to a comparison of 2004 and 2010 figures by the Grattan Institute.

There tends to be a lot of criticism of Generation Y for spending on luxury items, be it avocado on toast for breakfast, lattes, iPhones or another festival or weekend city breaks. The logic would seem simple, spend less on luxuries and save more of you hard earned cash. But the figures actually suggest millennials are saving more than they used to and are simply faced with increasingly difficult-to-afford house deposits.

As an indicator of housing affordability, the house price-to-income ratio, and the “deposit gap”, both remain much higher than they have been for the past few decades. The study also shows that younger people are now spending a greater proportion of their income on housing rather than other household expenditure categories, such as food, alcohol, or recreation. Interestingly, the same survey of spending habits found that younger people (defined as younger than 35) saved more per week than older people, even when comparing families with children. This may however be due to younger people living at home for longer but it still indicates Millennials have no issues with saving money.

You are never too young or too old to start saving and Enable’s IFAs in Bishops Stortford can help you make a plan for investing your hard earned savings.

Source: https://www.theguardian.com/news/datablog/2016/oct/18/are-millennials-actually-bad-at-saving-or-are-houses-just-unaffordable


Issued by: Enable Independent Financial Life Planners • 
25c North Street, Bishops Stortford, Herts CM23 2LD • Telephone: 01279 755950 - Fax: 01279 657339
Enable Independent Financial Life Planners is a trading style of Enable Independent Limited is authorised and regulated by the Financial Conduct Authority.
It is important always to seek independent financial advice before making any decision regarding your finances. If you would like any assistance, please contact us.
NOTHING CONTAINED IN THE ARTICLES SHOULD BE CONSIDERED AS GIVING INDIVIDUAL FINANCIAL ADVICE

Financial planning for your business

Personal financial planning is key to success but Business owners need specialist advice too and Enable’s IFAs in Bishop’s Stortford are happy to work in unison with business owners accountants and legal team to ensure all the professional advisers you have working for you.  Making sure all the thinking is joined up and working towards the best outcome for you and your business saves time and money.

Going through the process of constructing and regularly reviewing a financial plan is a valuable exercise for any business owner as it helps inform the day-to-day decision making of the business. Even for a one-person company it makes sense to have some kind of financial plan in place. It is also important to remember that your business needs to work to your personal financial benefit; after all, it is often you are the one taking the risks and working all the hours.

Joined up thinking is particularly important as legislation changes so rapidly these days and making sure your IFAs, Accountant and lawyer are in contact can help make sure you stay up to date with any of your employer obligations. You may need to consider changes in partnership or shareholder agreements and insurances, Key Person cover, pensions and other employee benefits.

At the end of the day it can also be useful to make sure you are able to separate your business life from your personal life from a financial perspective. Who knows one day you may want to sell or pass on your business and a clear financial plan is more likely to help you achieve this.

Issued by: Enable Independent Financial Life Planners • 
25c North Street, Bishops Stortford, Herts CM23 2LD • Telephone: 01279 755950 - Fax: 01279 657339
Enable Independent Financial Life Planners is a trading style of Enable Independent Limited is authorised and regulated by the Financial Conduct Authority.
It is important always to seek independent financial advice before making any decision regarding your finances. If you would like any assistance, please contact us.
NOTHING CONTAINED IN THE ARTICLES SHOULD BE CONSIDERED AS GIVING INDIVIDUAL FINANCIAL ADVICE

Are you Mortgage Ready?

Despite the current UK housing crisis there may come a time when a mortgage is in your sights. If that is something you are focused on Enables IFA’s in Bishops Stortford can only encourage you to be as mortgage ready as possible so when the time finally comes, you will be in a much stronger position and your mortgage will hopefully be processed much more quickly.

One of the key things your mortgage lender will do when you apply for a mortgage is an affordability test.  They are looking to see if your finances are in order and ultimately decide if you are trustworthy enough to lend money to. A real part of the test is looking at your income verses your expenditure, so it is important that you not only keep your finances in order but are also able to show that you are capable of keeping your finances in order.

So things like paying your bills on time as well as making sure any bills you have are all registered to your current address, so everything is easy to trace will help prove you are reliable and financially independent. Continuous employment is important ideally for at least six months. This will give evidence that you have a regular, stable income coming in every month, and there is less chance of your employment being terminated.  If regular savings can be traced on your bank statements, this can be good to show where the money for your deposit has come from, but it can also prove to your lender that if you are able to save say £500 a month, for instance, then this is money could go towards paying off any mortgage you have. Enable’s IFAs in Bishops Stortford can try and help you find the right mortgage at the right time.

Your home could be at risk if you do not keep up your mortgage repayments

Source: https://www.mortgageadvicebureau.com/news/HowtoGetMortgageReady/1212

Issued by: Enable Independent Financial Life Planners • 
25c North Street, Bishops Stortford, Herts CM23 2LD • Telephone: 01279 755950 - Fax: 01279 657339
Enable Independent Financial Life Planners is a trading style of Enable Independent Limited is authorised and regulated by the Financial Conduct Authority.
It is important always to seek independent financial advice before making any decision regarding your finances. If you would like any assistance, please contact us.
NOTHING CONTAINED IN THE ARTICLES SHOULD BE CONSIDERED AS GIVING INDIVIDUAL FINANCIAL ADVICE

Have you considered critical illness cover?

It is something that you always assume will happen to someone else but sadly Enable’s IFAs in Bishop’s Stortford know it can happen to anyone. Some recent research form the Mortgage Advice Bureau, revealed that over 50% of homeowners aged 18 to 40 do not currently have critical illness cover (CIC).

Critical illness cover is a form of insurance which pays out a tax-free lump sum in the event that you are diagnosed with a specified illness or medical condition during the term of the policy. Critical illness cover, also known as critical illness insurance, is a long-term insurance policy to cover specific serious illnesses listed within a policy. Should the worst happen, it gives a tax-free ‘lump sum’ – a one-off payment, to help pay for your mortgage or rent, debts, or pay for alterations to your home such as wheelchair access should you need it, but it’s your choice how you spend it.

Every year 1m workers in the UK unexpectedly find themselves unable to work because of injury or illness, the kinds of critical illnesses that might be covered by CIC are things like a heart attack, a stroke, certain types and stages of cancer and debilitating conditions such as multiple sclerosis or muscular dystrophy.  The majority of CIC policies also cover permanent disabilities as a result of injury or illness. Some policies offer monthly payments others pay out once and then the policy ends. Some policies will make a smaller payment for less severe conditions. This type of insurance does not pay out if you die. Enables IFA’s in Bishops Stortford want to make sure you have the insurance covers you need understanding the policy details so make sure you’re fully aware of them and that they cover your need.

Source: https://www.moneyadviceservice.org.uk/en/articles/critical-illness-insurance-do-you-need-it

Issued by: Enable Independent Financial Life Planners • 
25c North Street, Bishops Stortford, Herts CM23 2LD • Telephone: 01279 755950 - Fax: 01279 657339
Enable Independent Financial Life Planners is a trading style of Enable Independent Limited is authorised and regulated by the Financial Conduct Authority.
It is important always to seek independent financial advice before making any decision regarding your finances. If you would like any assistance, please contact us.
NOTHING CONTAINED IN THE ARTICLES SHOULD BE CONSIDERED AS GIVING INDIVIDUAL FINANCIAL ADVICE

Running out of pension funds

Enable’s experienced IFA’s in Bishops Stortford have supported many clients to set up pensions and have also helped to manage many pension finances. Recently, the apparently good news from The Office for National Statistics (ONS) is that there are over half a million people aged 90 or over, and more than 14,500 are 100 or more. The figures amount to a 65% increase in a decade, with the number of elderly men beginning to gain ground on the number of elderly women.  The problem is how to fund this ever increasing lifespan either as the state or as individuals. We already have more over 60s in our society than children.

Research from Aviva has found that men in Britain estimate they will live for around 15 years after they stop working (at around 65) when they’ll probably live another 19 years and women think they’ll survive another 19 years when they are actually likely to be around for another 21 years. Just three or four extra years of retirement requires around £35,000 in additional pensions savings to be able to fund that time.  Gareth Shaw, head of consumer affairs at Saga Investment Services recently said already “today’s retirees routinely underestimate how much they need to have a decent income in retirement. [Our research] found over 50s need double the amount they think to generate the kind of income that will leave them comfortably off in their later years.”

If you have worries about how you are going to fund your retirement Enable’s IFAs in Bishops Stortford can talk you through your options.

Source: http://www.independent.co.uk/money/growing-old-disgracefully-why-longer-life-is-ruining-your-wealth-a7345941.html

Issued by: Enable Independent Financial Life Planners • 
25c North Street, Bishops Stortford, Herts CM23 2LD • Telephone: 01279 755950 - Fax: 01279 657339
Enable Independent Financial Life Planners is a trading style of Enable Independent Limited is authorised and regulated by the Financial Conduct Authority.
 It is important always to seek independent financial advice before making any decision regarding your finances. If you would like any assistance, please contact us.

NOTHING CONTAINED IN THE ARTICLES SHOULD BE CONSIDERED AS GIVING INDIVIDUAL FINANCIAL ADVICE

MARKETS: (DATA COMPILED BY THE OUTSOURCED MARKETING DEPARTMENT)

September brought a renewal of investor confidence in global equity markets, as most of the major UK indices covered here saw gains. Whilst gaining 1.74% over the month, the FTSE100 did, however, see some volatility, dipping to an intra-month low of 6,665.6, before recovering to end at 6,899.3 up 117.8 points. The wider FTSE250 fared less well adding 0.78% or 138.6 points,to close at 17,871.4, whilst the junior AIM market surpassed that, rising just over 27 points to 819.1 for an improvement of 3.51%.

The American markets remained becalmed, as the Dow Jones slipped by 0.5%, to end the month at 18,308.15 with the technology-based Nasdaq improving to 5,312.0 for a 1.89% rise.
The continuing political machinations in Europe saw the Eurostoxx50 lose a marginal 0.69% to record a closing level of 3,002.24 and over in Japan, still suffering from continued deflation and economic stagnation, the Nikkei225 reversed August improvements to lose 2.59% to end September at 16,449.84.

The foreign exchange markets saw Sterling continue to drift lower against the US Dollar to $1.29 a 2.27% decline over the month and to €1.15 against the Euro, again a fall of 2.54%. Meanwhile, the US Dollar slipped by just under 1% against the Euro, finishing September at $1.12.
In the energy markets Oil, as measured by the Brent Crude benchmark, also had a volatile month, but did see the price improve a little to $49.06 a barrel, for a gain of 4.29%. It is now showing a 31.6% rise in price since the turn of the year.

Gold, often regarded as a safe-haven investment, clawed back some of its August losses to end September at $1,315.93 a troy ounce to record a 0.54% increase in value.

Issued by: Enable Independent Financial Life Planners • 
25c North Street, Bishops Stortford, Herts CM23 2LD • Telephone: 01279 755950 - Fax: 01279 657339
Enable Independent Financial Life Planners is a trading style of Enable Independent Limited is authorised and regulated by the Financial Conduct Authority.
It is important always to seek independent financial advice before making any decision regarding your finances. If you would like any assistance, please contact us.
NOTHING CONTAINED IN THE ARTICLES SHOULD BE CONSIDERED AS GIVING INDIVIDUAL FINANCIAL ADVICE 

UK EMPLOYMENT AT RECORD HIGH

The most recently released UK labour market figures, based on the May to July 2016 period, show the UK’s unemployment rate remains at 4.9%, down from the 5.5% recorded a year earlier. With 1.63 million people out of work, a fall of 39,000 from the Feb-April quarter and 190,000 less than the same period last year; its lowest level seen since the March- May 2008 quarter.

There were in fact 559,000 more people in employment in the May- July 2016 quarter, compared with the same period a year earlier. At 74.5% there are more people in work now than since comparable records began in 1971. Of these people, 23.5 million were in full-time employment and 8.51 million in part-time employment.

Those aged from 16 to 64 years and deemed economically inactive (those not working and not seeking or available to work) fell by 195,000 from the previous year to 8.83 million.
The number of people claiming unemployment benefits was recorded at 771,000 for August, made up of 557,900 claiming the Jobseeker’s Allowance and 213,100 people claiming Universal Credit.

At the same time, the Office for National Statistics (ONS) released data showing that average weekly earnings for employees increased by 2.3% including bonuses and by 2.1% excluding bonuses compared with the same period last year.

Issued by: Enable Independent Financial Life Planners • 
25c North Street, Bishops Stortford, Herts CM23 2LD • Telephone: 01279 755950 - Fax: 01279 657339
Enable Independent Financial Life Planners is a trading style of Enable Independent Limited is authorised and regulated by the Financial Conduct Authority.
It is important always to seek independent financial advice before making any decision regarding your finances. If you would like any assistance, please contact us.
NOTHING CONTAINED IN THE ARTICLES SHOULD BE CONSIDERED AS GIVING INDIVIDUAL FINANCIAL ADVICE 

UK RISES TO SEVENTH PLACE IN GLOBAL ECONOMIC COMPETITIVENESS

In a rebut to the Brexit doom-mongers, the World Economic Forum (WEF) has announced, in their ‘Global Competitive Report 2016-2017’, that the United Kingdom has risen to seventh place in the league of the world’s most competitive economies, leapfrogging Hong Kong, Japan, and Finland. The WEF is a respected think-tank that holds a major conference each year in Davos, Switzerland, which is attended by the world’s leading Heads of State, politicians, entrepreneurs, media titans and billionaires. This is a very positive reversal of its decline to tenth place recorded last year.

In the WEF’s database of 114 criteria, which include factors such as healthcare availability, employment systems and the macro-economic environment, the UK’s strong digital landscape, world-leading institutions, strong connections to the international economy and business-friendly regulatory system, were cited as some of the main factors in this year’s elevation in their global ranking.

Of other European economies in the report, the Netherlands, Germany and Sweden ranked above the UK. In the top spot was Switzerland, followed by Singapore and the United States of America.
As a caveat to this good news, the WEF did state that the UK’s wide exposure to the global economy, its high reliance on imported goods and its economic indebtedness, with both a current and budget deficit, adversely affected the overall score. The WEF went on to say: “Although the process and the conditions of Brexit are still unknown, it is likely to have a negative impact on the UK’s competitiveness.”

Meanwhile though, the new Chancellor of the Exchequer, Philip Hammond, stated that these results: “demonstrate our ability to sharpen our edge and improve our competitiveness.”
He went on to add: “This government will build on that progress, as we demonstrate to the world that Britain continues to be highly competitive and open for business.”

Issued by: Enable Independent Financial Life Planners • 
25c North Street, Bishops Stortford, Herts CM23 2LD • Telephone: 01279 755950 - Fax: 01279 657339
Enable Independent Financial Life Planners is a trading style of Enable Independent Limited is authorised and regulated by the Financial Conduct Authority.
It is important always to seek independent financial advice before making any decision regarding your finances. If you would like any assistance, please contact us.
NOTHING CONTAINED IN THE ARTICLES SHOULD BE CONSIDERED AS GIVING INDIVIDUAL FINANCIAL ADVICE 

First time buyer gap

Enable’s IFA’s in Bishops Stortford and Saffron Walden have seen the average age of a first time buyer in the UK go up and down but according to research from lender the Halifax the average age is now 30. This makes the average age of a first time buyer one year older than a decade ago and two years older than in 1983 when Halifax records began. The average age in London has risen by three years since 1983 from 29 to 32 and by four years in the South East from 28 to 32. In addition some new research reveals a seven year age gap between the youngest and oldest across the country.

The youngest first time buyers in southern England are in the East of England Waveney in Suffolk and Broadland in Norfolk with an average age of 28 in both areas. The analysis reveals a strong relationship between areas with relatively low average house prices with the youngest first time buyers. The research pointed out that the latest Halifax Generation Rent report found that non-home owners aged 20 to 45 would be prepared to save for around five and a half years for a deposit, while the average deposit paid by first time buyers increased by 13% in 2015 to £32,927. ‘With the youngest average first time buyer age dropping to 27 in some areas, this is a stark reminder of how early aspiring home owners should start thinking about what they will need to get onto the property ladder and what options they should consider in order to take their first step.’

If you are saving for your first property Enable’s IFAs can help you look at your options.

Your home could be at risk if you do not keep up your mortgage repayments


Source: http://www.propertywire.com/news/europe/seven-year-age-gap-revealed-youngest-oldest-first-time-uk-buyers/

Issued by: Enable Independent Financial Life Planners • 
25c North Street, Bishops Stortford, Herts CM23 2LD • Telephone: 01279 755950 - Fax: 01279 657339
Enable Independent Financial Life Planners is a trading style of Enable Independent Limited is authorised and regulated by the Financial Conduct Authority.
It is important always to seek independent financial advice before making any decision regarding your finances. If you would like any assistance, please contact us.
NOTHING CONTAINED IN THE ARTICLES SHOULD BE CONSIDERED AS GIVING INDIVIDUAL FINANCIAL ADVICE  

What are you pension pot fees?

Enable’s IFA's are always transparent about any fees that are charged for pensions they set up for clients. There has been much talk of excessive fees charged on pensions and millions of workers could have to delay the age when they retire by several years because they are paying steep fees on their pension fund, new research suggests. Cutting back fees by just 1.5 percentage points can mean the difference between being able to retire at 63 or 80, according to the new data.

A 55-year old worker has an average pension pot of £42,621 and is paying an average fee of 1.85 per cent, according to customer data analysed by advice firm Profile Financial. Many however do not realise they are paying high charges.  Profile Financials’ analysis of fees paid by its customers found those in new-style pension funds were paying 0.34 per cent, while 35-year-old and 45-year-old savers were paying 1.47 per cent on average and 55-year-olds were paying 1.85 per cent on average. Older workers tend to pay higher pension fees than younger staff, because the Government put a 0.75% cap on default fund charges under its auto-enrolment initiative.

Those who already have low fees will not be able to make great saving, and others may feel funds with higher fees still offer good value.  But the figures highlight how big an impact fees have on your pension pot over the years, and why it is crucial to find out what you are paying as well as their investment performance.

Source: http://www.thisismoney.co.uk/money/pensions/article-3802276/Rip-pension-charges-slogging-work-longer.html

Issued by: Enable Independent Financial Life Planners • 
25c North Street, Bishops Stortford, Herts CM23 2LD • Telephone: 01279 755950 - Fax: 01279 657339
Enable Independent Financial Life Planners is a trading style of Enable Independent Limited is authorised and regulated by the Financial Conduct Authority.
It is important always to seek independent financial advice before making any decision regarding your finances. If you would like any assistance, please contact us.
NOTHING CONTAINED IN THE ARTICLES SHOULD BE CONSIDERED AS GIVING INDIVIDUAL FINANCIAL ADVICE  

Investing in UK property?

If you need a home in Bishop’s Stortford or Saffron Walden Enable’s IFAs think that any time is right to buy.  If you are looking to invest in property it is not so easy, you might try to second guess the property market but that’s a hard thing to do despite a myriad of advice.

According to Hometrack UK Cities Index, overall the annual rate of house price growth across 20 of the largest UK cities has slowed to 8.2% in August, from 9.5% in July, taking the average house price to £239,400. Many say that the slowing of house price growth reflects the increasing difficulties in purchasing a home as prices continue to increase more quickly than earnings.  But many estate agents are saying that despite the slowing of house price growth, there are clear signs that the housing market is beginning to settle down after Brexit demonstrating the underlying strength of the residential property market which should stand it in good stead for the long-term.

Some like the director of LsLi say- “The unsustainable rate at which property values have been rising has meant that many potential homebuyers have been priced out of the market – especially in areas like London and the South East. “The truth is, now is a great time to buy a home. The fundamentals of the housing market remain strong, with record low interest rates and lenders maintaining their appetite to lend.” Enable’s IFAs can help talk you through property investment.

Source: https://www.propertyinvestortoday.co.uk/breaking-news/2016/9/now-is-a-great-time-to-invest-in-property-says-lsli-director

Issued by: Enable Independent Financial Life Planners • 
25c North Street, Bishops Stortford, Herts CM23 2LD • Telephone: 01279 755950 - Fax: 01279 657339
Enable Independent Financial Life Planners is a trading style of Enable Independent Limited is authorised and regulated by the Financial Conduct Authority.
It is important always to seek independent financial advice before making any decision regarding your finances. If you would like any assistance, please contact us.
NOTHING CONTAINED IN THE ARTICLES SHOULD BE CONSIDERED AS GIVING INDIVIDUAL FINANCIAL ADVICE