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How to manage your finances

by Rob Maddision, RMJ Wealth Management

By RMJ Wealth Management

Financial Services are complicated and nobody teaches us about it at school but with the right advice it does not have to be, enabling you to have the financial future you deserve.

Welcome to the first monthly financial article within the Urban Echo which will try to make practical sense of the world of financial advice by bringing content which is simple to understand.

This is brought to you by RMJ Wealth Management, experienced Financial Advisers & Wealth Managers with over 50 years’ within the financial industry at well-known Private Banks and Investment Management companies in Yorkshire, prior to opening our own wealth management company.

With a firm belief in doing the right thing for our clients and acting in their interest and not our own, it is our hope through the Urban Echo to offer guidance to its readers on all aspects of personal and corporate planning issues of the day.

Over the coming months we will touch on many topics, with the ones below examples of what may be included. However, we welcome feedback from the readership and suggestions on areas you wish to hear from us on?

The value of a financial education to adults and children alike

Teaching children financial responsibility can add up to major gains in the long run, but it needs to start early. Even though personal financial management is as important as ever, all the evidence suggests that many youngsters are not at all good at it and that their elders are no better at teaching them or understanding it themselves. We focus on the benefits educational articles that we will publish can bring.

What pensions options are there and how do I get the most from retirement saving?

Planning for retirement is just one area in which, with the benefit of hindsight, many people wish they had acted earlier. We share the pension basics, top tips and what you can do to boost your retirement income.

A beginner’s guide to the stock market and Isa investing

April 2018 will see the end of another tax year and the Isa season that goes along with it. Before then though we’ll touch on Isa’s, what they do, what the benefits are and what options they offer an individual. This along with a guide to the stock markets will give an insight to how you can benefit too.

 What can I do with my savings and what is the impact of Inflation?

At a time of higher inflation and low bank rates, good cash management is more important than ever for individuals and business. There are some basic principle to follow to get the best return for your own or your businesses cash.

How to protect my family and business against unexpected events?

Even though it can be a financial life-saver, only half of all mortgage holders have life cover, leaving millions exposed. Our desire for bricks and mortar is not in step with our appetite for life cover, even though it could help our families keep their heads above water if our lives were unexpectedly turned upside down.

How can I pass on my wealth to my dependents?

Families are paying more in Inheritance Tax (IHT) than ever before. Official figures show that the amount collected in 2017 exceeded £5 billion for the first time. With some careful planning and sensible advice, family wealth can be kept for future generations to enjoy.

What are the benefits to me of a company pension?

Money that would have otherwise gone to the taxman can boost your retirement savings, although the goal of every business is to make profit, it can take a long time. But once that milestone is achieved, directors are faced with the problem of how best to take profits while minimising their tax bill.

What is Auto Enrolment?

Auto-enrolment may be just another thing on a long company to-do list, but the key is to prepare in advance. Also, what should employees do when faced with auto-enrolment by their employer? Are there other options to take?

How to plan for selling my business or succession to family members?

It is never too early to prepare for the sale of your business and advanced preparation can put you in the driving seat. Putting plans in place early on can also enable a sale to be organised at short notice due to unexpected events or ensuring transition happens smoothly.

If you require advice about your own finances, those of your company or wish to suggest future topics then please contact Rob or David at or

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