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How to Raise Money Fast.

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					The internet is full of articles on how to raise cash quickly. There are a multitude of
money making ideas and get rich quick schemes and a wide variety of help and advice
on the various ways to save and raise cash fast. These ideas range from "getting a part
time or second job", to the "selling some of your possessions at a car boot sale or on
ebay" and on to the more extreme examples like taking part in medical trials.
Although many of us have may have some equity tied up our homes, the recent cut
backs in bank and building society lending has meant that loans and remortgages have
become increasingly hard to obtain.
  If you feel that you have exhausted all of the usual ways for raising money then there
is a provision within U.K. pension law that could allow you to release some of the
money that you have invested into your pension over your working lifetime. If you
are aged between 55 and 62 years old and hold a U.K. private or company pension
which you are not already taking benefits from, even if you are not currently paying
into it, you may be eligible to access up to 25% of your pension as a tax free lump
sum. This can be done without having to retire and without having to take your
retirement income through the purchase of an annuity. You can carry on working and
continue to make further contributions to your pension which will continue to benefit
from a tax efficient environment.
  Before embarking on pension release you will need to seek the advice of an
Independent Financial Adviser. They will be authorised and regulated by the Financial
Services Authority (FSA), the UK's financial watchdog set up by the Goverment to
regulate financial services and protect your rights. Thier details can be easily be
checked with the FSA. Most Independent Financial Advisers will offer a free, no
obligation review of your pension, or pensions, looking in detail at exit penalties and
charges and at your own personal circumstances and situation. With this information
they will be able to analyse the various options available to you. They will explain to
you how taking benefits now will affect your retirement plans or your current tax
situation and if you are currently receiving any state benefits they will let you know
how taking your pension now could impact on them.
  Your financial adviser will offer the highest service standards and once you have
filled out the pension release enquiry form and they have all the required information
from your pension company, they will complete each stage of the process by return of
post. They will liase and chase all third parties to ensure the quickest turnaround times.
Potentially you could be in receipt of your Tax Free Cash within 20 working days.
  They will take the requirements of the Financial Services Authority very seriously, in
particular the requirement to treat their customers fairly. They will strive to do this in
all that they do. They will undertake that all of their actions will be guided by the
principle that the interests of their customers are paramount. Their systems and
procedures are designed to place the customer at the heart of their business.
  Because pension release will ultimately reduce the income that you will receive in
retirement your financial adviser will make sure that you have looked at all the other
possible alternatives for raising money and make sure that you are fully aware of the
implications of embarking on pension release. The FSA see this as a high risk activity
which should only be undertaken when all other avenues have been explored and it is
therefore extremely important to remember that pension release is only suitable for a
very limited number of people and circumstances.

				
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posted:2/11/2011
language:English
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