2 years ago
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Posted On: November 8th 2024, 11:55 am
How I invested in November as a 34 year old living in the south of the UK!
The big change this month (althought technically it won't come into effect until next month) was that I decided to increase my pension contributions considerably as a result of Labour's first budget.
I had convinced myself pensions were going to get raided in this budget. There were so many rumours of either a 30% flat rate of tax relief, or some sort of tax-free cap.
Because I was in that mindset, the current system feels like a GIFT ๐ I really appreciate the incredible tax benefits of a pension, and how much I was underestimating it.
The increase in capital gains tax underlines the importance of using both your pension and ISA allowance to shield as much of your money from tax as possible!
Thanks for watching friends!
#investingforbeginners #uk #personalfinance
The big change this month (althought technically it won't come into effect until next month) was that I decided to increase my pension contributions considerably as a result of Labour's first budget.
I had convinced myself pensions were going to get raided in this budget. There were so many rumours of either a 30% flat rate of tax relief, or some sort of tax-free cap.
Because I was in that mindset, the current system feels like a GIFT ๐ I really appreciate the incredible tax benefits of a pension, and how much I was underestimating it.
The increase in capital gains tax underlines the importance of using both your pension and ISA allowance to shield as much of your money from tax as possible!
Thanks for watching friends!
#investingforbeginners #uk #personalfinance
Comments (47)
2 years agotiffinteas
Can you go into more detail on the trading 212 stocks isa and their pies. I am so utterly confused
2 years ago_tomgreenhalgh
Without being too personal, as a household are you the biggest contributor to your household retirement?
2 years agojackpickford97
Great stuff as usual, what platform do you use for your pension to specify where you invest it?Great stuff as usual, what platform do you use for your pension to specify where you invest it?
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