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Investment Cons and Misleading Deals

It transpired that no matter what type of investment I requested (Income, growth, 5 years, 7 year, 9 years) I was offered the same provider (whose company name sounded good but I know is not).

All of the investments were offering me guaranteed capital with high rates of returns, which are not possible in my opinion.  They all offered NO access during the term and I wouldn’t be 100% sure the company would still be around at the end of the term.

I put my email details and phone number to request personal information – I now find myself getting several calls per week and at least one email a day from this company

What I would always urge anyone to do is always get a second opinion on anything that is advertised especially through social media.  When I asked the friend who had supposedly ‘liked’ the page about this they had never even heard of the comparison website.

What are available for Ex-Pats living in Spain are the Spanish Compliant Bonds that can offer security as well as a very good rate of return and can cater for all risk profiles from the Cautious Investor to the more speculative risk taker.  

These can be very tax efficient and offer an excellent vehicle for clients wanting to take regular income or if you just want to let your investments grow over time. 

by Keith Littlewood, International Financial Adviser in the Costa Blanca

Other News

Many Grandparents missing out on full state pension

Grandparents and FamilyThe ex-pensions minister Steve Webb is urging the government and the HMRC to do more to alert grandparents to all the pension perks they’re entitled to after it was revealed that the overwhelming majority are not receiving the full state pension. By missing out on a particular benefit, unknowing eligible grandparents are missing out on £231 a year. Over the course of their full retirement, this could possibly lead to a loss of thousands of pounds.

It is a scheme called the Specified Adult Childcare Credit. It is thought that only 1,300 grandparents are taking advantage of it despite 100,000 being eligible (a mere one per cent). The scope of the problem was found out by Webb when he sent a Freedom of Information request to the HMRC.

The purpose behind the Specified Adult Childcare Credit is to allow grandparents who give up work completely to help raise their grandchildren the chance to claim National Insurance (NI) credits.

Read More

Saving & Investing in Volatile Markets

Luke HuntGenerally speaking, saving money and planning for your future are two key aspects of financial planning. So, getting this right as early as possible should be one of your main priorities, to ensure that there are no nasty surprises down the line. There are a multitude of reasons that you might choose to put money aside, such as for a “rainy day fund”, a house purchase, your children’s education or making sure that you can retire comfortably.

Whatever your objective is, you can save by either putting money aside each month, or, if you have already managed to save money in the bank, look to gain a better rate of interest for a greater return. This could be a particularly advantageous avenue when you consider that in fact, once you take inflation into account, most money on a bank deposit will effectively be losing its value each month.

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