We are witnessing a surge in the number of people giving retirement a second thought due to inflation rates and the cost of living crisis. Not only are more individuals looking to work beyond their State Pension age, but some are returning to employment after retiring due to increasing financial pressures.
Continue reading “Giving retirement a second thought?”
Financial planning can be a daunting and uncomfortable conversation for many, but thankfully attitudes towards talking about money are changing. Wealth succession should be an integral part of your financial plan as early as possible – because the right preparation now can have positive long-term impacts on future generations.
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A new survey conducted by the Financial Services Compensation Scheme (FSCS) and the Financial Conduct Authority (FCA) reveals that 44% of UK adults who hold investments of between £100 and £50,000 wish they had spent more time researching their investment before making a decision[1]. However, this task is commonly neglected due to its perceived complexity – it ranked much lower than other tasks like choosing a holiday, buying a house and checking social media.
Continue reading “Show me the money”
People are increasingly becoming more concerned about the possibility of being affected by a critical illness such as cancer, stroke or heart attack, according to new research findings[1]. This is reflected in the fact that searches for ‘critical illness insurance’ have skyrocketed, with, on average, 6,800 people searching for ‘critical illness cover’ every month, mostly asked on Google.
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There are signs and targets that can signal that you are prepared to retire, but it can be difficult to figure out when you are truly ready to retire. We may think of retirement as being centred around a particular age or monetary amount. When we get to ‘X’ years old or have ‘Y’ amount of money, we can move on to our ‘golden years’.
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Despite the slow economic recovery, many retirees trying to maintain a basic standard of living have seen the cost of their lifestyle increase by nearly 20% over the past year, according to a new report[1].
Continue reading “Financial security and freedom”
Divorce involves many loose ends, both emotional and financial. It can generate high levels of uncertainty and financial stress, as it impacts on all areas of your life, from living arrangements to assets and pensions. That’s why financial planning through a divorce is essential to help protect your assets and prepare you for going forward on your own.
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The cost of living crisis is a concerning and long-term problem for those trying to pay off their mortgage, especially over-55s who are already having difficulty saving enough for retirement.
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When you get married, or cohabit, you are not just blending your hearts and lives together, you are also combining your finances. So it is important that you take the time to discuss and plan how you will manage your combined resources in order to ensure financial security for both of you.
Continue reading “Financial bliss!”
Cost averaging, or pound cost averaging, is an investment approach that involves dividing up the total amount to be invested into equal amounts and investing these at regular intervals over a period of time.
Continue reading “Cost averaging your investments”