Prosperity IFAs

"I can't predict the future, but I can prepare for it..."
Providing independent financial advice using the core principals of integrity, fairness and respect.

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Thought for the day: If you live to age 90, you would have spent roughly 30 years sleeping!

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In terms of energy used to process, one Bitcoin transaction is the equivalent of burning 75 gallons of petrol.

With 400,000 daily transactions taking place (Jan 2021), that's the equivalent of 30 million gallons of petrol being burnt, or 200 million pint glasses, per day....🤯

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The good news: The Evergreen Cargo Ship has successfully been re-floated and is on the move 🚢

The bad news: It's caused a bit of a backlog! ⚓️

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Things not on the list of 2021 Global Economic Risk Forecasts:

1 x Stuck Container Ship

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You can now buy an electric, self driving car, using digital cryptocurrency...

Welcome to the future!

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In 1964, Phil Knight started selling shoes from the boot of his car at college track meets under the banner of Blue Ribbon Sports (would later become Nike).

Nike sales for that year: $8,000

Today, Nike generates $8,000 in sales every 6 seconds

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Thankfully, Bitcoin is not used as a measure of inflation. If you were wondering just how volatile Bitcoin is, then one Bitcoin could buy:

10 years ago: a McDonald's Hamburger

5 years ago: an iPhone

1 year ago: a family holiday

Today: a Tesla Model 3

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As markets open on St Patrick's Day, associated with the colour Green, its worth remembering how they closed 1yr ago on 16th March 20. A sea of red after the biggest 1 day drop in the history of the DJ (-2,997pts/-12.93%), when trading screens around the world looked like this...

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How they started out:

Jeff Bezos (Amazon - $196bn): McDonald’s kitchen worker
Elon Musk (Tesla/Space X - $183bn): Boiler room cleaner
Oprah Winfrey (TV - $2.7bn): Grocery store clerk
Warren Buffett (Berkshire Hathaway - $85bn): Paperboy
Jack Ma (Alibaba - $51bn): Tour guide

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Google launched 22 years ago, and generated $220,000 of revenue in its first full year.

In 2021, Google generates $220,000 every 30 seconds!

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🚨🚨 Financial Year End 🚨🚨

The 5th April 2021 falls on Easter Monday this year, meaning Thursday 1st April 2021 is generally set as the deadline for processing tax efficient contributions (mainly Pensions & ISAs).

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35% of all U.S Dollars ever issued/printed in the history of the U.S Dollar, has been issued in the last 10 months 🤯💵

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Gifting money in your lifetime needs careful consideration to avoid any surprise tax bills. Lifetime cash gifts are known as PETs and can create an inheritance tax charge if you, as the donor, pass away within seven years of the date of the gift.

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🚨🚨 Please aware of a scam whereby the caller claims to be from the FCA, informing you your investments are involved in fraud, instructing you to sell them (to protect you against fraud) and giving details of a bank account to send the funds to 🚨🚨

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Like adults, children also have tax allowances that can be used each year. The Junior ISA allowance is £9,000pa. They won’t be able to access the money until they are 18, at which point it automatically turns into a normal ISA & transfers into their name, giving them full access.

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A marginal tax rate of 60% applies to income earned between £100,000 & £125,000 as your personal allowance reduces. You could consider reducing your taxable income by making pension contributions so that it falls below £100,000 and therefore a marginal tax rate of 40% applies.

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In 2019/20, Capital Gains Tax generated £9.98 billion for the U.K government, with many speculating the CGT rate will increase in the upcoming budget. If you have a CGT liability feel free to contact a Prosperity adviser to discuss - 03300 585 377

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A report by https://t.co/YU7bpOwI09 analysed data from 10,000 content creators and found that having a precise 42,575 Instagram followers is enough for an influencer to earn the average UK salary, if they create 8 posts and 8 stories per month 🤯

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ISAs are a great way to save for the future because income and capital gains made on investments held are free from income tax and capital gains tax.

All adults can save a total of £20,000 each tax year in ISAs, but you need to do so before the 5th April deadline each year.

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With the end of the tax year looming, have you used up your pension contribution allowance? Pensions are a great use for effective retirement planning, but can be complex. Our qualified Financial Advisors are well placed to help you, just give us a call - 03300 585 37