Delayed life milestones and lack of planning pose significant risks
New research has revealed that five million childless households in the UK currently lack life insurance, pensions or savings[1]. This alarming statistic underscores a broader shift in how families are structured and how financial priorities are set across the nation.
Legacy planning holds different meanings for different individuals. For some, it is about ensuring their loved ones are financially secure; for others, it involves safeguarding cherished possessions or supporting charitable causes. Central to this process is drafting a Will, a pivotal legal document that allows you to dictate the distribution of your money, property and possessions after your death.
Understanding your workplace pension options to navigate your next steps confidently
Redundancy can be challenging and stressful, often creating uncertainty about the future. However, it can also signal the beginning of a positive new chapter in your life. For many, this transition period offers a unique opportunity to reflect on personal and professional goals and consider new directions that might have previously seemed unattainable.
Essential key considerations and potential pitfalls you need to know
With interest rates much higher than they’ve been for many years, using your pension tax-free lump sum to pay off your mortgage might initially seem prudent. Reducing your monthly outgoings can be appealing, particularly if you’re approaching retirement and looking to streamline your financial commitments.
Why UK retirees are working seven years longer than planned
More than half (54%) of UK retirees foresee themselves working beyond their preferred retirement age, extending their careers by an average of seven years, according to a new report[1]. This concerning trend highlights a significant gap between the age at which people wish to retire and the financial realities dictated by their pension savings.
