Splashing the cash

Splashing
New ‘YOLO’ generation gambling with their financial future

The prospect of saving for tomorrow may feel too distant for some, but to achieve long-term goals (including financial security in retirement) we all need to consider reprioritising our needs to give ourselves a better financial future. But, more than four in ten Britons in their 30s and 40s (45%) are stopping any future saving in favour of spending their cash, according to Scottish Widows’ tenth annual Savings Study. Continue reading…


Return of multi-generational households

multi-generational
Two in three agree living with family is beneficial

Multi-generational households could be set to grow in popularity as property costs continue to rise. A new report from Aviva suggests that based on the rate of growth seen in the past 10 years – and assuming house prices will continue to rise – there could be 2.2 million people living in multi-family households and 3.8 million 21–34-year-olds living with their parents by 2025. Continue reading…


Why now is the time to review your pension

Why now is the time
Taking an active interest in your retirement savings

Millions of savers currently spend very little time reviewing their pensions, with more than a quarter of savers (28%) admitting to never reviewing their retirement savings, while almost a fifth (19%) of those with a pension said they review it less than once every five years[1] according to figures released by Aviva. Continue reading…


Lack of preparation for the unexpected

Lack
A quarter of us could only afford to pay household bills for a maximum of three months

Protecting your family should underpin financial planning, and it can also be a key business tool or estate planning mechanism. But, despite this, one in five (21%) people admit their household would not be financially secure for any length of time if it lost its main income through unexpected circumstances. Continue reading…


Retirement freedoms

retirementfreedoms
What are the income options for your pension?

Deciding what to do with your pension savings is an important step we will all have to take. Following changes introduced in April 2015, you now have more choice and flexibility than ever before over how and when you can take money from your pension pot. These changes give you freedom over how you can use your pension pot(s) if you’re 55 or over and have a pension based on how much has been paid into your pot (a defined contribution scheme). Continue reading…


Managing your retirement savings

managingyourretir
Consolidating your separate pensions into one single pension wrapper

If you’ve accumulated numerous workplace pensions over the years from different employers, it can be difficult to keep track of how they are performing. The process of bringing all your pensions together is called ‘consolidation’. It is often referred to as a transfer. If you have more than one pension pot, you might want to consider consolidating all of your pots into one for simplicity. You may also benefit from lower charges by doing this. Continue reading…


Brexit: the point of maximum impact

The economic effects of leaving the EU could cause unemployment to rise in the UK which would reduce the pressure for wage growth. The Treasury estimated that wages will be between 2.8% and 4% lower at the point of maximum impact. Continue reading…


UK’s exit from the European Union after 43 years

The UK’s exit from the European Union after 43 years is now set to happen. The vote by a majority of British people to leave the European Union on Thursday 23 June represents a very significant decision for the UK, for the European Union and indeed for the wider global economy. The UK voted to leave the EU by 52% to 48%. Continue reading…