Ensure your money works effectively to enjoy retirement on your own terms

How you invest in your 50s could significantly impact your quality of life in retirement. While there is still time to increase your retirement savings, a seemingly simple mistake could derail your plans. This is where obtaining professional financial advice becomes crucial.

With retirement now in sight, as you approach this milestone, ensuring your money works effectively will allow you to enjoy retirement on your own terms.

Received an inheritance, windfall, or proceeds from a business or property sale? But what next?

Receiving a lump sum of money, whether from an inheritance, windfall, or proceeds from a business or property sale, can be exciting and overwhelming. Deciding where to invest this money is crucial, and with numerous options available, it can be challenging to determine the best course of action.

Knowing where to put a cash windfall can be difficult, particularly in times of market and economic

Balancing financial security with mental well-being

The experiences of today’s retirees offer a wealth of knowledge for anyone planning their retirement. By observing the paths already taken, future retirees can glean valuable lessons from the triumphs and challenges faced by those who have navigated this transition before them. This collective knowledge is crucial in shaping a retirement plan that balances financial security with mental well-being.

Financial security begins with diligent saving and investment strategies, which should be initiated as early

What you need to know to avoid discrepancies and potential financial strain

According to research[1], almost a third of UK adults who have checked their tax code (31%) have found that they have been on the wrong one at some point. Additionally, one in six (15%) UK adults do not know if they are on the right tax code.

The findings also reveal that nearly a third (31%) of UK adults who have examined their tax code discovered errors at

Allow your loved ones to benefit more from your accumulated wealth

Effective planning minimises the burden of Inheritance Tax (IHT), allowing your loved ones to benefit more from your accumulated wealth. If the value of your estate is above the £325,000 threshold (2024/25 tax year), the part of your estate above it could be liable for tax at the rate of 40%.

Fortunately, various strategies can help manage this liability. These approaches range from straightforward methods, such as utilising IHT

How much money will you have for retirement, where it’s invested, and what are you being charged?

According to new research[1], just two-fifths (42%) of the UK population know how to contribute more to their pension. The study also found that a quarter of those with multiple pots would not know where to start consolidating multiple pension pots accrued throughout their working life.

The Financial Conduct Authority (FCA) Financial Lives Survey reported that 47% have not reviewed how much their

Ensuring your legacy is managed according to your wishes long into the future

Trusts are a powerful tool for estate planning, providing flexibility and control over asset distribution. Properly structured, they can address various scenarios and requirements, ensuring that your legacy is managed according to your wishes long into the future.

Trusts separate assets’ legal ownership from their beneficial ownership. The legal owner holds the title and is empowered to deal with and administer Trust assets, while the beneficial owner

Urgent need for effective financial strategies and support systems to ensure a dignified and secure retirement

According to a new study[1], around 21% of retirees say that, after paying off their mortgage, they are “unable to live fulfilling lives” due to insufficient retirement funds. This situation underscores the financial challenges many retirees face, even after achieving what many consider the major milestone of homeownership.

Over a fifth—22%—of retirees surveyed were already reducing or stopping medication spending. Additionally, 15% were skipping

Nearly 40% support grown-up children, a spouse or partner, a parent, an elderly relative, or a friend

When times are hard, it makes sense that families will look for ways to support each other emotionally and financially. And if you’re one of the many retirees supporting family and friends financially, you’re not alone.

With financial pressures such as day-to-day living costs fuelled by inflation, expensive property, and education fees, retirees are increasingly expected to give their grown-up children, family members,

Money, or lack thereof, a significant driver of overall retirement satisfaction

Given the ongoing economic pressures of rising living costs, over 55s were asked how they find the overall retirement experience. The research found that four in five (79%) of over 55s who have retired did so without the help of financial guidance or advice, preferring to opt for a DIY approach to managing their finances[1].

This comes as nearly one in three (29%) of the same group admit they

Making the right decisions today could boost your
retirement pot and make the future a whole lot brighter

When considering retirement planning, pension savings are a crucial component of your financial strategy and essential for a comfortable retirement. Securing the right professional advice is critical, as decisions made at this stage will significantly impact you and your family.

Saving in a pension is one of the most tax-efficient ways to invest for your future. However, to many people, it’s

What payments can you expect to receive from the government later in life?

In April 2024, the state pension rose by 8.5% to £11,502.40 a year for post-2016 retirees. However, according to new research[1], one in seven (14%) retirees receive less money from the state pension than expected. This highlights the need for more information about the payments people can expect to receive from the government later in life.

Over a fifth (22%) of retirees also said they entered retirement