Exactly how much you’ll need for a comfortable retirement will depend largely on your cost of living and lifestyle choices. For many people, retirement is about sun-soaked holidays, leisurely rounds of golf and that boat they’ve always coveted.
People are generally living longer these days. Increasingly, more people are living well into their 80s and 90s – and some even longer. This may mean you have a long time to budget for. That’s why it is very important to consider all of your options carefully and think about what will matter to you in retirement.
Top reasons people gave for not taking out protection
There are many things to consider when looking to protect you and your family. It may not be the most exciting of subjects, but it answers one of our most basic desires – to keep safe all that we hold dear.
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.
Uncovering what really matters to you is the key to the planning process
Have you ever thought about writing a letter to yourself to describe your ideal future life, long-term life goals and the process of how to plan for them? Imagining what you want your life to be like in the long term when you retire will help you think much further ahead than you might have done before. Research conducted for a new campaign shows that over half (54%) of people plan their lives only days (31%) or weeks (23%) ahead.
Getting the date right can help you reach your destination sooner
At some point you’ll say ‘goodbye’ to your co-workers, get into your car and drive towards the next phase of your life – retirement. But when will that be? The move to retirement is one of the most important decisions you’ll make, so it’s not surprising that determining the date is harder than you may ever expect.
How a simple list can help your loved ones after your death
Although it may not feel like it, your family finances are probably more precarious than you think. It’s all well and good when the breadwinners are healthy and working, but if something unfortunate were to happen, the outlook for those around you could change instantly.
If you have accumulated a number of Individual Savings Accounts (ISAs) over the years, keeping them all in one place could give you better control and help you save money. There’s a common misconception that you can’t move your existing ISAs from one provider to another. Transferring your ISAs doesn’t affect its tax-efficient status, but you should make sure that you don’t have to pay penalties or give up valuable benefits.
Portfolio balancing, negating stock market volatility and lowering risk
Bonds have historically been an alternative way to balance a portfolio and negate stock market volatility, and they are treated as lower risk. The art of investing is all about mixing assets to build a portfolio aligned to your investment outlook and attitude to risk, with shares and bonds as primary components. For investors, bonds can provide a stream of returns.