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6 bad habits to avoid during retirement

Planning for retirement can be complicated, as anyone approaching the end of their working life will tell you. However, navigating the myriad of choices, both financially and socially, doesn’t have to be such an enigma. Here are a few tips to help you avoid common bad habits that retirees often fall into: 1. Spending your pension fund money Yes, that’s right. If you delay spending your pension and spend other available cash and investments first, you could keep your money safe from the taxman.
17th May 2019

The UK is struggling to save; what are the implications?

A study found in 2018 that one in four adults have no savings. Many residents in the UK wish that they had cash to save, however high monthly outgoings and debt clearance seem to take priority. Saving for the little curveballs that life throws your way is a good way to maintain a sound mind, but poor money management and large monthly payments can get in the way. So is this issue localised to the UK, or is the struggle to save an international issue?…
17th May 2019

Why cruise holidays are booming for retirees

The cruise market offering has changed enormously in recent years, where once it was purely the domain of cabaret cheese and bad karaoke, now there’s something on offer for everyone (don’t worry, though, if you love cabaret and karaoke, that’s still an option). Whatever your tastes and priorities, you won’t be hard pressed to find a cruise to suit your needs. Cruises have always been a popular choice for retirees but with the new potential for personalisation, they’re more popular than ever, with over 26…
25th April 2019

How safe are your savings?

With your capital tucked away in savings accounts, investments and mortgages, you’d assume that there is some kind of protection in place. But exactly how safe are your savings in the event of, for example, an authorised financial services firm going bust? That’s exactly what happened during the 2008 banking crisis, and UK taxpayers had to shell out £4.5bn to the people who had saved their money with Icelandic bank, Icesave. You’ll be happy to hear that there is a safeguard in place for such…
25th April 2019

A snapshot of average weekly household spending

In January, the Office for National Statistics (ONS) released their latest Family Spending Survey, revealing the intimate details of British spending habits. In its 61st year, the report provides an insight into family spending habits, as well as showing how they differ between areas of the country. The average British household spent £572.60 per week in the financial year ending March 2018. After adjustments for inflation, this was the highest weekly expenditure since 2005. Increases in transport and housing costs were chiefly responsible for this…
18th March 2019

Time, not material goods, raises happiness

A new study has found that paying to free up your time is linked to increasing your level of happiness. Individuals taking part in a psychological experiment said that they felt happier when using $40 (around £30) to save themselves time rather than buying material goods. Stress over not having enough time can lead to reduced well-being, as well as being a contributing factor in conditions such as insomnia and anxiety. However, it has been reported that even the wealthiest people are generally unwilling to…
18th March 2019

Data for sale: How to check your financial information isn’t being accessed online

We live in an age where more and more services are becoming available online, and where the process of signing up for these services has never been easier. Whilst this offers greater convenience to our everyday lives than ever before, it also means your information is being held by an ever-increasing number of companies. The growth of online services has also meant that data breaches have been accepted as a regular occurrence. Worryingly, however, it may only be when your account is actually accessed by…
11th February 2019

Children caring for parents and the impact on everyone’s wealth

A recent study carried out in the USA found that those caring for elderly parents are likely to experience additional financial difficulties on top of the extra stress such responsibilities can bring. The study found that three out of ten American caregivers had also experienced negative consequences from their employers because of their duty to care for an older relative. Many had also seen their own retirement funds depleted because of the cost of providing care. The study also found that over three quarters (76%)…
11th February 2019

Is a personal referral the best way to choose a financial adviser?

You can spend your life working hard and following all the advice you pick up along the way. If you’re financially savvy, you might be able to pay off your mortgage quickly, put plenty into savings and build a nice nest egg to retire with. Getting a financial adviser to guide you through the process can be a great idea, but when you hand someone the keys to your capital, you want to make sure they know what they’re doing. There are plenty of excellent…
15th January 2019

What makes a resolution easier to keep?

The start of a new year brings with it many things, not least the tradition of setting resolutions in order to start the next twelve months off as you mean to go on. But as many people who’ve made new year’s resolutions will know, the intention of resolving to do or not do something is quite different to actually following through and making it a reality – and that’s true no matter what time of year you do it. So, what can you do to…
15th January 2019

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