Having money set aside can help to provide protection against any abrupt financial changes. A new report has identified one in four working households with savings (28%) have started dipping into them to meet rising living costs. A further 30% anticipate they will need to do so in the next year.
Could market volatility and inflation mean you have to delay retirement?
It’s never too early to start planning for retirement. But if you’re nearing retirement, it’s especially important to have a plan in place in case market volatility or inflation impacts your desired retirement timeline.
There are a number of strategies that individual investors can use to take less risk when investing. Diversification is one approach that can help to mitigate the effects of volatility in any one particular asset class.
Millions want to stick with lockdown lifestyle changes
The COVID-19 pandemic has been incredibly difficult for everyone and made a huge impact on the lives, personal finances and jobs of millions of people. The restrictions introduced during the pandemic were forced on the nation and it was assumed that once they ended, people would quickly return to their lifestyles before lockdown.
Having a solid retirement plan in place is key to a worry-free future
As we enter our later years, it’s more important than ever to have a solid retirement plan in place. Unfortunately, for many of us, that simply isn’t the case. According to recent figures, one in six people over the age of 55 in the UK have no pension savings whatsoever.
With the right plans in place, you can make your money go further
Despite the fact that most people know they need to start saving for retirement as early as possible, many are still not doing so. There are a number of reasons why people aren’t saving enough for their retirement.
Steps you can take to ensure that you are prepared financially
One of the biggest concerns people have when nearing retirement is whether or not they will have enough money to maintain their current lifestyle. Retirement can be a time of great uncertainty, but there are steps you can take to ensure that you are prepared financially.
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