Investing for income and safeguarding your future

Many people aren't investing enough for their future, and as a result of the rise in life expectancy, the need to ensure that you have enough income in retirement is greater than ever. The onus is now on the individual to provide for their retirement.

For the majority of individuals the only taxable income that needs consideration is their salary. This is taxed at source, meaning that your tax bill is deducted directly from your wage packet, unless you are self-employed. However, an increasing number of people are looking towards various forms of investments in a bid to increase their income. There is a huge variety of investment types available, some of which are more tax efficient than others, but regardless of whether or not your investment will be taxed (and it is highly likely that it will be) it is important to understand the distinction between earned income and investment income.

As with all our recommendations, the level of risk, potential return and involvement you prefer will be tailored to your needs.