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More people retiring with a pension, but incomes are still falling

New research has shown that more of us are retiring with a pension pot, but the income of people retiring now is still lower than prior to the financial crisis. So, what’s going on? If more people have a pension, why are incomes lower? The research, from Prudential, found that: Only 14% of people retiring in 2017 had no pension savings That’s down from 23% in 2008 The largest increase in retirement saving has come from women; the percentage with no pension savings has fallen…
12th October 2017

Is now the right time to consider a ‘living inheritance’?

When you retire, you probably already know who you want to leave your estate to down the line. Hopefully you’ve also made a will to ensure that your wishes are followed when you die. So far so good and you’ve done more than most people. But that raises two questions you might not have thought of: Could your loved ones benefit from receiving some of their inheritance now, while you are still alive? How much of your estate will be eaten up in Inheritance Tax…
5th October 2017

Do yourself a favour. Tick ‘write a will’ off your to-do list.

Last year, almost 13,000 people had solicitors make their will during Will Aid. This year, you can join them and protect your assets and your family, whilst donating to a range of great causes: Actionaid Age UK British Red Cross Christian Aid NSPCC Save The Children SCIAF Sightsavers Trocaire Many adults in the UK have still not written a will: 83% of 19-34-year-olds 32% of 35-54- year-olds 25% of over-55s Whilst it is clearly less of a priority for younger people, this means, overall, almost…
22nd September 2017

When should you see a financial planner?

There are times in life when we need professional advice. Accountants or solicitors, for example: If you are a business owner, an accountant will prepare your annual accounts. He or she will also prepare and submit your tax return. When the time comes to make or update a will, it’ll be a solicitor you call. Or, when you buy or sell property. The same is true of engaging with a financial planner. There are times in life when people traditionally seek independent financial advice: the…
22nd September 2017

Nearly half of all over-55s plan to downsize: But do they really need to?

New research has revealed that an astonishing 3.9 million over-55s plan to downsize their home as they head to retirement. The study, from Prudential, showed that nearly half (47%) of over-55s plan to move to a smaller property in years to come. The main reason given was one of convenience, with many wanting a smaller garden. However, finances played a big part in the decision-making process, with: 60% intending to use the money to boost their retirement income 13% believing they couldn’t afford to retire…
22nd September 2017

The value of financial advice

29th August 2017

5 Reasons to buy your business premises in your pension

If you run your own business, the rent you pay for your premises is probably one of your largest outgoings. Many business owners begrudge paying rent each quarter, often seeing it as ‘dead money’. However, despite interest rates remaining at low levels for nearly a decade, buying their own premises, often because they can’t raise the deposit that is required, is out of reach for many business owners. A potential solution is available, which many business owners don’t know about, yet could mean an end…
18th August 2017

Revealed: The three retirement mistakes thousands of people are making

It is often said that you can only go forward by making mistakes. In many cases, that’s true. Providing you learn from them, of course. However, some things are worth getting right the first time around, one of them being your retirement planning. Having enough money to support you when you stop working may not seem like a big deal now. However, pensioner poverty is unfortunately very real, and increasingly common. Careful planning can prevent this, but new research reveals that thousands of people are…
11th August 2017

6 tips to rebuild your retirement plans after a divorce

Divorce. It’s a subject that’s unlikely to make for a cheery read, but it’s an important one to talk about nonetheless. In 2015, the Office of National Statistics (ONS) reported 101,055 divorces, and estimated that 42% of marriages will eventually end this way. A divorce can have far-reaching effects, both emotionally and financially. And, new research from Prudential reveals the extent to which it could blow your retirement plans way off track. The figures show: The expected annual income in retirement for people who have been…
4th August 2017

Pension or Buy to Let: Which is better?

I sometimes feel that we love property, especially Buy to Let, as much as we hate pensions. I know that’s a huge generalisation, but there’s no doubt, based on regular conversations I have, that it feels true. So, I thought we’d compare the two to try and answer the question once and for all. If you are starting to take retirement planning seriously, which should you use; a pension or Buy to Let? Contributions Pension: If you are employed, you probably have access to a…
24th July 2017

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