Worrying about saving enough for Retirement is more common than you may think
Determining how much you need to save for the retirement you want can be difficult enough without actually having to save the money. Your requirements and desires will change over time in the same way that your income is likely to fluctuate. You can’t be expected to know exactly what you’ll need in 5 years’ time, let alone 20 or 30, depending on where you are in your journey…
Is Cash too safe?
One of the great themes of the past 3 years has been accidental savings: the amount people in the UK have “saved” by the simple expedient of not being able to go out and spend. “Thrifty Brits stash the cash in lockdown” has been a typical headline, quickly followed by an estimate of how much cash we might have “stashed” through not going to the pub, eating out or…
Is there any reason to worry about Inflation?
If you’re the sort of person who likes their glass half-empty then there will be plenty of opportunities to find something to worry about at the moment. The recovery from the pandemic, the conflict in Ukraine and all the staff shortages in the news can turn anyone into a pessimist. On top of that, everything in the news is telling us about a word that has hardly been on…
Could using a pension reduce higher rate tax payments?
At the beginning of March 2021, Chancellor Rishi Sunak presented his Budget. His aim was to steer the UK away from the economic damage caused by the pandemic. A year earlier he had said he would do “whatever it takes” to protect jobs and businesses. Twelve months on, with Government borrowing breaking all records, it is clear that it will take a very long time to pay the bill…
More than half of UK adults now seek financial advice
As we look back on the time passed since the UK first went into lockdown one thing is abundantly clear – financially, the last couple of years have been good for some people. We’re not talking about the billionaires who have seen their shares rocket during lockdown but rather the many, many people who have saved money by not commuting, not buying lunch from the sandwich shop and not…
How long would your savings last?
A recent survey has found that the typical working person in the UK has around a month’s worth of savings to be able to maintain their current lifestyle should their income stop without warning. The data collected from 2,000 people found that the average person’s savings would support them for 32 days. More worryingly, 26% of those who responded said their savings would only last a week or less.…
What is the state of the mortgage market after a year of Covid?
Like all markets, the mortgage market has not avoided the impact of coronavirus. A year after the start of the pandemic let’s take a look at what we can learn from the last twelve months and what can be expected as we move forward. The availability and variety of mortgage products saw a fairly dramatic decrease throughout 2020. Many lenders withdrew deals from the market when the first impacts…
How much should you really be saving for retirement?
Retirement should be the time in your life where you’re able to relax and enjoy the fruits of your labour throughout your working life. However, simply paying into your savings or a pension for when you retire might not allow you to do this if you’re not putting enough away. But what does “enough” look like? Here are a few questions to consider to help you get started. How…
