Our Beginners’ Guides, written by Rosanna Spero, are designed to help give you an idea of different types of products and how they work. Rosanna has been writing about finance for 20 years – 12 of them at the Daily Mail. She now writes for a number of newspapers and has regular columns in a wide range of magazines.
Money affects every area of our lives, but managing it efficiently is not easy. Which savings plan, which protection insurance, which type of pension? There is so much choice. And information is often surrounded by jargon that makes brochures incomprehensible to most of us.
So Scottish Widows asked me if I could help demystify the process and write a series of jargon free guides.
We have tried to break down and explain clearly how pensions, for example, work and the different choices you will have to make when buying a product. Try reading one – using Scottish Widows series of useful calculators. When you feel comfortable that you understand the subject you can do further research on what plans are on offer and speak to one of Scottish Widows advisers or an independent financial adviser.
Inheritance tax, or IHT as it is commonly known, is payable on everything you have of value when you die.
Financial advisers are trained to advise you on a range of financial products but there are different types to choose from.
In this guide we explain the different pension savings options you have and how to make the most of your money when you come to retire.