Stop squirreling - start filing

Article Abstract:

There are a number of pieces of information which should form the basis of a well-organized personal financial filing system. Those who own shares should retain all information for as long as they own the shares, as it may be required for calculating Capital Gains Tax liabilities. It is important to keep annual statements relating to pensions, and for insurance policies it is worth keeping receipts for valuable items. Those seeking a mortgage will have to provide bank statements for the previous six months, pay slips for the previous three months, statements from any previous mortgage lender and an employer's reference.

Methods, Management, Financial management, Filing systems

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Time to play equity card

Article Abstract:

Many older people who own a valuable home but lack an adequate regular income consider using the equity in their home to raise cash. Equity-release plans involve taking a mortgage out on the home to give an income or cash. However, it is important to be aware that such plans can be complex, and financial and legal advice must be taken before going ahead. The National Consumer Council has emphasized that equity-release plans must be properly regulated and managed.

United Kingdom, Financial management, Personal Financial Mgmt, Aged, Elderly, Analysis, Finance, Personal finance, Reverse mortgages, Home equity conversion

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