There are many factors that can influence when someone decides to retire. For some, it may be based on health reasons, while others may want to take advantage of government benefits or simply enjoy a more relaxed lifestyle. However, one of the most common factors that determines when people choose to retire is their age.
Millions struggle to understand their most important source of income in retirement
Saving money for retirement is important because you’ll need a nest egg when you’re no longer working. The best way to guarantee an income when you’re in your golden years is to save and invest as much as you can now while you are still working.
22% rise in people using property to support their retirement
The significant increase in property prices in recent years has likely shifted many people’s expectations of the role property wealth will eventually play in supporting their retirement. With people spending longer in retirement, one of the challenges that many need to overcome is how to fund it and how to meet the financial demands they may face in later life, such as the cost of long-term care.
Estate planning is about putting your affairs in order, to help make the lives of your loved ones easier. It can help to protect your estate for your beneficiaries and reduce the impact of Inheritance Tax (commonly called IHT for short).
Most couples hate talking about money and find it a hard subject to discuss. However, while it may not seem like the most romantic topic, if you don’t talk about what you each want from your finances and how to manage your money, it’s likely to result in more friction and arguments.
4 steps for future wealth creation in your mid-20s to mid-30s
Investing can be challenging for anyone, but for those in their mid-20s to mid-30s, it can be especially daunting to build a portfolio – especially while paying off student loans, credit card debt and establishing some savings.
Nine in ten adults make stark spending decisions as anxiety runs high
The pressure of spiralling living costs is a major concern among many UK households, with the vast majority looking to make significant lifestyle changes in response to price rises.
Nine in ten adults make stark spending decisions as anxiety runs high
The pressure of spiralling living costs is a major concern among many UK households, with the vast majority looking to make significant lifestyle changes in response to price rises.
As many as a fifth (20%) of young Gen Z adults aged 18 to 24 say they have already made a Will[1]. Getting their affairs in order at such an early age compares favourably relative to the UK adult population overall, where just four in ten (40%) people have made a Will.
More than half of UK adults haven’t discussed the subject
With wealth for millennials set to double in the next 20 years, it’s time to get over the awkwardness and have the conversation now. One of the main reasons why people don’t discuss their inheritance wishes is that they assume estate planning is not for them. That it is only necessary if you are very wealthy.
