Rising prices add almost 20% to ‘minimum’ cost of retirement. Despite the slow economic recovery, many retirees trying to maintain a basic standard of living have seen the cost of their lifestyle increase by nearly 20% over the past year, according to a new report[1]. The findings were based on research which outlined three different levels of expenditure needed for retirement: Minimum, Modest and Comfortable lifestyles. For those on a Minimum level, the increases in food and energy costs have

Planning your finances to be sustainable for the long term is key. There are signs and targets that can signal that you are prepared to retire, but it can be difficult to figure out when you are truly ready to retire. We may think of retirement as being centred around a particular age or monetary amount. When we get to ‘X’ years old or have ‘Y’ amount of money, we can move on to our ‘golden years’.  The turbulent times

Britons not researching their investments because it’s ‘time consuming’ and ‘complicated’. A new survey conducted by the Financial Services Compensation Scheme (FSCS) and the Financial Conduct Authority (FCA) reveals that 44% of UK adults who hold investments of between £100 and £50,000 wish they had spent more time researching their investment before making a decision[1]. However, this task is commonly neglected due to its perceived complexity – it ranked much lower than other tasks like choosing a holiday, buying a

Making the right preparation for future generations. Financial planning can be a daunting and uncomfortable conversation for many, but thankfully attitudes towards talking about money are changing. Wealth succession should be an integral part of your financial plan as early as possible – because the right preparation now can have positive long-term impacts on future generations. Despite the uncertain economic climate, families are doing their utmost to ensure they can leave behind a secure financial future for their children and

Over a third of OVER-55s think they will work beyond their state pension age. We are witnessing a surge in the number of people giving retirement a second thought due to inflation rates and the cost of living crisis. Not only are more individuals looking to work beyond their State Pension age, but some are returning to employment after retiring due to increasing financial pressures. Over 2.5 million people aged 55 and over will be impacted by the long-term effects

How to protect your pension income against inflationary pressures. For anyone feeling the effects of rising inflation rates, it’s important to ensure that your retirement fund isn’t significantly impacted. While this can be challenging in such an uncertain economic climate, there are measures you can take to ensure that your savings don’t suffer. Here are some tips to help you protect your pension income for the future. Postponing retirement Retiring later can have multiple advantages. It can be a financially

How professional financial advice benefits both you and your family. When it comes to managing your finances, the wealth of resources now available can make it easy to try and go it alone. However, obtaining the right advice from a qualified professional financial adviser will ensure you are able to plan ahead by including expectations for items such as inflation, market declines and your protection requirements, so you can stay on track. Receiving professional advice is one of the main

We are pleased to announce that Investing For Tomorrow team member, Gary Hanley, has been appointed to our board of directors.

7 out of 10 adults are puzzled by financial matters lingo. Being informed about financial matters is essential to making sound decisions and staying in control of your money. Unfortunately, many people feel confused by the jargon used in financial discussions and services. A recent study of UK adults reveals that seven in ten feel puzzled by financial jargon, while three-quarters don’t understand the concept of ‘the economy’[1]. Those aged 18-24 are the least likely age group to be confused

Major long-term ramifications for financial health and wellbeing. A perfect storm of global and domestic factors has contributed to spiralling inflation in the UK, triggering a cost of living crisis. This is pushing up the prices of food, fuel and housing. This crisis is by far the top concern for UK consumers: 58% are very worried about it, rising to 69% of women, according to research[1].  Three-quarters of those aged 50 and over are also worried about how the cost

Women more vulnerable to cost-of-living crisis. Throughout their lives, women face a number of challenges that can place them at a financial disadvantage compared to their male counterparts. This can include inequality of pay at work, taking career breaks or taking part-time positions due to an expectation they will take on greater responsibility for family commitments. This often leaves them less financially resilient and in the context of the cost of living crisis, where everyone is feeling the pinch, it

Nearly half of pension holders have lost track of some of their pension pots. The lost pensions challenge in the UK has grown significantly in recent years, further exacerbated by the pandemic, which resulted in a large proportion of people moving jobs. A recent Pension Policy Institute research briefing calculated the total value of lost pension pots has grown to £26.6 billion in 2022[1]. If you’ve worked for several employers throughout your career, you might have accumulated multiple pension plans.