A long life needs a smart retirement plan Reaching the big 50 can be a financial wake-up call Your 50s are a crunch time when saving for your retirement. If you’ve already set a retirement savings target but have been neglecting it, the reality is that now you can’t afford to delay your planning any further – and it’s time for a careful review. Are you on track to retire when you want to? Do you have enough in your

Every journey starts with a destination Looking at the bigger picture for your wealth and security Every plan starts with a goal, just like every journey starts with a destination. Planning your financial future is not only important for your security, but it also provides peace of mind. Financial planning should be viewed as a long-term approach to managing your finances. Creating your financial plan will help you see the bigger picture and set life goals, which are crucial for

Time to update your planned retirement date? Savers risk missing out on money from their final pension pot Millions of savers risk missing out on money from their final pension pot if their provider doesn’t have their correct planned retirement date. The analysis[1] revealed that workplace pension savers in the UK could miss out on thousands of pounds in retirement because they haven’t updated their planned retirement date. Recent changes to State Pension age, and the removal of the default

‘Sleepwalking’ into retirement How much will you need to save to afford a comfortable retirement? There is a widespread and common-sense-based perception, backed to some extent by evidence, that planning and preparing for later life is associated with increased well-being in older age. Despite this, it’s concerning that some people at mid-life have not thought much about their later life nor taken fundamental future-oriented actions, such as engaging in financial planning or writing a Will. New research[1] highlights the fact

Will I have enough money through retirement? Mismatch between retirement expectations and actual reality Retirement is a chance to do more of what you enjoy. When it comes to planning for your retirement, you need to think about what you’d like your life to be like. There is no set retirement age in the UK any longer, so you can carry on working as long as you like (or as long as you need to). When we talk with people

Lasting the distance The early retirement dream lives on, but at what cost? Whether you choose or need early retirement, having a plan can give your money the best chance of lasting the distance. Whether lifestyle preferences or circumstances beyond your control are behind your decision to retire early, you’ll need to make a plan to help your retirement savings last, while still enjoying your favourite comforts in life. But with increasing numbers now working past traditional retirement ages[1], stopping

Unlocked pension savings Critical gap in consumer awareness Drawdown allows most pension holders to withdraw a tax-free lump sum and reinvest the remainder as an income. But hundreds of thousands of DIY drawdown investors are unaware they can scale back or stop their withdrawals, putting them in danger of draining their retirement savings too rapidly, according to new research[1]. Half (52%) of all over-55s taking an income in drawdown do not know they can reduce the value of their withdrawals,

Lost pensions Make sure your pension savings don’t get left behind The employment landscape has evolved significantly over the last few decades, and changing jobs multiple times before retirement is now very much the norm. Even if you have not had that many jobs, you may still have a number of different pensions to keep track of. Nearly two-thirds of UK savers have more than one pension, and changing work patterns mean that the number of people with multiple pensions

Cashing out Pension changes brought a whole new range of options to consider Unadvised retirees who are now able to dip into their pension are having to return to work to cope with juggling their finances, according to a new report[1]. Pension freedoms have given individuals control over how to spend their retirement savings, but a number of unintended consequences have emerged. Since rules governing how pensions can be taken were dramatically relaxed in 2015, more than a million over-55s

Retirement resilience Taking the reins and having more control over your pension pot Saving for retirement is one of our greatest financial priorities, especially as life expectancy is growing and retirements are likely to last longer. It may be the case that you’d prefer to take the reins and have more control over your pension pot. For appropriate investors, one option to consider is a Self-Invested Personal Pension (SIPP). Please note that a SIPP is a type of Personal Pension,

What’s important to you? Reaching those milestones starts with setting clear financial goals We all have dreams for the future, and many of those dreams require money and planning to make them become a reality. Reaching those milestones starts with setting clear financial goals. Making decisions with a clear endpoint in mind can make it easier to achieve financial security and allow you to enjoy your life to the full, so we’ve put together this brief rundown to help you

Your future How to build wealth that stands the test of time Long-term investments tend to be less risky in the end. By investing for the long term, you are committing to your investments, and history has shown that this strategy can pay off handsomely. This is also often the best way to build wealth that stands the test of time. It’s how you plan for retirement and build a legacy to pass on to your children and grandchildren. But