Canal Street Online Manchester

Retirement and financial advice from Kath Wilkinson

LGBTIs are not alone in not planning adequately for retirement – it’s something that much of the population prefer to ‘think about later’. LGBTIs do however have some additional issues to consider. Many of us grew up in a time when we could not have imagined the open lifestyle that’s possible today. Indeed, many of the LGBTIs who will retire over the next couple of decades will probably have spent a number of years ‘in the closet’ and will not have thought about a ‘gay retirement’

Our blog here on Canal St Online looks at areas of your retirement, your Pensions and other important issues relating to your finances, both at present and crucially in the future.

Click here  for our comprehensive, simple to follow guide to your retirement. 

How to calculate your needs for retirement

Ask our Kath about the 5 ways to get you started on the cash flow requirements for your personal needs in later life.

Learn more here

Published on - Thu, 07 Sep 2023

It is never too early to plan for your retirement

Retirement may seem far off, but it’s never too early to start planning

Creating a retirement plan that aligns with your long-term financial goals is important, from estimating retirement expenses to choosing retirement accounts.

Have a read of some of the factors you need to consider ⬆️

These factors provide a starting point for retirement planning. However, it’s important to note that everyone’s retirement journey is unique. Consulting with a financial adviser can provide personalised guidance and help you create a comprehensive retirement plan tailored to your specific circumstances and goals.
Make an appointment to see Kath now via

retirementplanning #laterlife #planahead #manchesterplanner #lancashirefinancialplanners

Published on - Fri, 18 Aug 2023

Wealth accumulation for the LGBTQ+ community

At a glance
Everyone needs a financial plan to help them reach their goals, but LGBTQ+ individuals may feel that financial advice isn’t an inclusive space.
LGBTQ+ individuals may face specific hurdles in growing their finances.
We are working to better support the LGBTQ+ community.
Everyone needs a pot of money to support them in later life, and whether that comes from pensions, ISA savings or investments will depend on their own life circumstances.
Financial advisers can help people map out their journey and take steps towards reaching their goals, but it’s fair to say the finance industry doesn’t always ‘speak’ to the LGBTQ+ community.
This matters because, while everyone faces challenges in growing their wealth, LGBTQ+ individuals may experience additional barriers.
There’s a lot of work that needs to be done within the financial-services industry to improve how we work with LGBTQ+ individuals. It’s important that we play our part to better the industry and build a more inclusive approach.

What are the challenges faced by the LGBTQ+ community?
These definitions and identities matter because we know it can be harder for some LGBTQ+ individuals to forge a path to financial wellbeing.
Some of the barriers to achieving this may be:

Stress from not being ‘out’ in the workplace, or having to modify their behaviour in the work week to fit in
A lack of support at work during key life events
Potentially higher costs when starting a family
Alienation from financial services, which make assumptions about gender, pronouns or sexuality
Lesbians and women in same-sex relationships may experience a double penalty from the gender pay gap…
… Although other research suggests lesbians earn more than heterosexual women, perhaps due to lower rates of motherhood. (1)
Costs involved in transitioning
Additional housing costs from needing to live near LGBTQ+ communities in urban areas, which may lead to a reluctance to downsize in retirement to an area that may isolate them
Lack of financial support from disapproving family
Individuals from the LGBTQ+ community may experience any of these challenges during their lives, which can have a negative impact on building their wealth. This is not to say that it’s all bad or that these issues will affect everybody. Instead, we want to openly acknowledge the differences in life experiences of all parts of the community.

Overcoming financial discrimination
Historically, LGBTQ+ people have been ‘shut out’ of financial services. For example, there was a time when insurers would ask applicants if they had ever taken an HIV test – something that men with same-sex partners would have been more likely to do.
Another example is how pension providers did not recognise same-sex partners. When a straight person died, their remaining pension went to support their opposite-sex partner, but couples in same-sex relationships did not have the same privilege.
Although many instances of discrimination that were woven into the practices of pension companies and insurers have been removed, their impact lingers in the misgivings that older LGBTQ+ individuals have about engaging with financial-services providers.
From our conversations with LGBTQ+ individuals, there appears to be a confidence gap when it comes to money and personal finances.

If you need help building a financial plan to reach your goals and build your confidence, contact us today -

#wealthmanagement #lgbtq #canalstmcr

Published on - Sun, 13 Aug 2023

State pension: What are the facts moving forward.

The State Pension

This pension is usually paid based on the individual’s own National Insurance contributions.

How much you get depends on the number of years you have on your National Insurance record.

Checking how much State Pension you’re likely to receive is an important part of your forward financial planning – and you can check here in a matter of minutes - type ‘Check state pension’ on your search engine and head to the GOV.UK website.

For most people, it will be a straightforward check of your NI contributions record. But if you have divorced, you have a little more work to do.


*Government website, New State Pension - what you’ll get

Kath is available to provide experiences and trusted information at

Published on - Mon, 17 Jul 2023