But one in five young people still saving nothing
The number of under-30s saving enough for retirement has risen sharply by 9%. As the success of auto enrolment continues, two in five UK workers (39%) aged 22–29 years old are now saving adequately for retirement, up from 30% last year. Despite this, more than one in five young people (21%) are still saving nothing for later life, with a further 20% saving seriously less than 12% of their income. Continue reading “Retirement savings leap”
Long-term saving could yield a £1m retirement pot for some millennials
The millennial generation don’t just spend their hard earned savings on smashed avocado and flat whites, but they do have a different attitude to money than older generations. In fact, some young people today or in future generations could accumulate a pension pot as high as £1 million when they come to retire through a combination of higher earnings, a generous workplace pension and several decades of saving, according to new research. Continue reading “Generation game”
Nine in ten Britons are in danger of financial hardship – so what cover do you need?
Britons are woefully under-protected should serious illness strike, according to new research. Despite more than a fifth (21%) of people admitting their household wouldn’t survive financially if they lost their income due to long-term illness, fewer than one in ten (9%) have a critical illness policy. People are, in fact, more likely to insure their mobile phones (12%) than to protect their own health. Continue reading “Do you have protection if the worst should happen?”
Do you know the value of your pension savings?
With people living longer than ever before, we all need to save more. But because there’s always something more urgent to pay or save for, it’s something that many of us rarely think about. Continue reading “Eyes wide shut”
Which is the right approach for you?
The world of investing can seem daunting. Whatever stage of life you’re at, we’ll guide you through the appropriate investment opportunities available to you. Every investor needs to ask themselves the same basic questions before getting started. Continue reading “Investment choices”
Time to start looking at accessing your pension?
Income drawdown is a way of using your pension pot to provide you with a regular retirement income by reinvesting it in funds specifically designed and managed for this purpose. The income you receive will vary depending on the fund’s performance. Continue reading “Maximising retirement income”
Are you on track to a financially secure retirement future?
When you are at the point of retiring, the new pension freedoms have opened up all sorts of alternative strategies to taking your pension benefits. The very concept of retirement is changing. Continue reading “Countdown has commenced”
Families set to pay millions in unnecessary tax
There’s a fundamental lack of awareness and understanding around Inheritance Tax, especially when it comes to how Individual Savings Accounts (ISAs) are treated after death. Given that some people have been able to amass over a million pounds in their ISAs, it’s an area where lack of knowledge could prove costly. Continue reading “ISA rules and Inheritance Tax”
Keeping your target retirement plans on track
Most over-45s are not making plans to match their hopes for the future, according to research from Standard Life. The vast majority (86%) of those aged 45 or over are already dreaming about escaping their working life for retirement, but only 8% of the same age group have recently checked the retirement date on their pension plans to make sure it is still in line with their plans. Continue reading “Make it a date”
Many individuals find the Inheritance Tax rules too complicated
If you struggle to navigate the UK’s Inheritance Tax regime, you are not alone. Whether you are setting up your estate planning or sorting out the estate of a departed family member, the system can be hard to follow. Getting your planning wrong could also mean your family is faced with an unexpectedly high Inheritance Tax bill. Continue reading “Protecting your estate for future generations”