How to prevent misunderstandings and lay the groundwork for mutual financial success
Embarking on a financial journey with your partner can be both exciting and challenging. Whether you’ve been together for years or are at the start of a new relationship, planning your finances collectively can pave the way for a more secure future.
Why retirement planning needs to account for longevity risk
Embarking on your retirement journey is a significant milestone filled with possibilities and new beginnings. However, being aware of potential pitfalls that could undermine your financial security is essential. One of the most prevalent issues is failing to protect against inflation. Known as the ‘silent thief’, inflation can gradually erode your savings and income purchasing power.
Why do women often find themselves disadvantaged in retirement?
Significant disparities continue to remain when it comes to retirement savings, with the gender pension gap standing out prominently. Even though the gap manifests across various demographics, including age, job types, and income levels, however, it is women who bear the brunt of these inequalities, often finding themselves at a financial disadvantage in retirement. This disparity is primarily due to lifelong differences in savings and the contributions made to pension plans.
Six in ten employees feel they are not saving enough for retirement
A concerning trend among UK workers in workplace pensions and long-term saving has been highlighted in recent research. Six in ten employees feel they are not saving enough for retirement, with a third experiencing anxiety when assessing the amount they have saved, the data shows[1].
Providing timely financial support to your loved ones when they need it most
Ensuring the financial security of loved ones is a paramount concern in financial planning. Your life insurance policy is a significant asset, and by putting it in an appropriate Trust, you can manage how your beneficiaries receive their inheritance. This approach offers numerous advantages beyond the basic provisions of a standard life insurance policy, enhancing the efficiency and security of the payout for your beneficiaries.
Steps you take now to influence your retirement and overall financial security significantly
As you get closer to your 50th birthday, it’s natural to feel anticipation and concern about your financial future. While financial planning might not seem urgent, the steps you take now can significantly influence your retirement quality of life and overall financial security.
Why it’s imperative to consider your objectives and attitude towards investment risk
Constructing a diversified investment portfolio is crucial for safeguarding your wealth against market fluctuations. Diversification involves spreading your investments across various asset classes, sectors, regions, and countries. However, tailoring your portfolio to your unique circumstances—such as your financial goals and investment timeline—is equally important. Before assembling your portfolio, it’s imperative to consider your objectives and attitude towards investment risk.
Research highlights a profound impact on financial security and life choices
In the current economic climate, the prospect of receiving an inheritance plays a crucial role in shaping major life decisions for many UK adults. More than one in five (22%) UK adults[1] who have received or expect to receive an inheritance[2] are delaying or planning to delay a major life event until they receive an inheritance.
Embarking on the journey of building wealth requires a well-drawn roadmap to act as your guide. By thoroughly understanding your current financial position and visualising your future aspirations, you can devise a sound strategy to steer you towards your financial objectives. This roadmap outlines where you are and defines the path to where you wish to be.
Precisely understanding what you wish to accomplish financially is key
In today’s financial landscape, saving and investing are not merely about accumulating wealth. They are about empowering your money to achieve your aspirations. The foundation of successful investing begins with defining clear financial goals. Before embarking on your investment journey, you must precisely understand what you wish to accomplish financially. A goals-based saving and investment strategy will help you remain focused and disciplined, even during market fluctuations.
