The majority of Brits feel stressed about planning their retirement, a survey from Aviva finds. While later-life planning can seem complex, taking control of your goals and pension during your working life can mean you feel more confident. The survey found that 61% of Brits feel stressed when they think about retirement planning. Unsurprisingly, given the current economic uncertainty, money …
Fewer workers are choosing to give up work on a set date. In fact, 34% of over-55s that haven’t given up work yet are gradually phasing into retirement, according to Legal & General figures. A phased retirement can take many forms. You may decide to reduce your working hours or change your role to one that has fewer responsibilities. Others …
Retirement is a milestone that’s often greeted with celebration. But what do you need to do to be happy during your later years? Research has revealed that it’s experiences, rather than material items, that are important. A survey from Royal London found that 72% of those aged over 55 favoured experiences over material possessions. From seeing more of the world …
Later-life care can be a difficult topic to discuss and create a plan for. However, setting out a care plan now means you can rest assured your wishes would be followed and ensure long-term security. If it is something you’ve not tackled yet, read on to find out what you should do. According to a Canada Life survey, 7 in …
Some of the decisions you make as you retire could affect your income and lifestyle for the rest of your life. Yet, data suggests that many retirees aren’t taking financial advice and it could mean they face hardship in the future. According to the Great British Retirement Survey, only 27% of retirees in 2021 sought the services of a professional …
A trend among modern retirees to increase their spending as they get older could mean that some run out of money during their lifetime. The new research is an important reminder to consider how your spending needs will change during your retirement. Traditionally, spending has been higher during the initial few years of retirement as retirees tick off milestone goals …
Getting the most out of retirement and reaching your goals requires planning. Not thinking about your post-work years until you reach that milestone can mean that a retirement that promised much, falls short. While you might daydream about giving up work, pinning down the details, from your lifestyle to your income, means you’re more likely to turn your dream into …
If you’re nearing retirement, you may be starting to think about planning the next stage of your life. What steps spring to mind? You may prioritise organising your pension, claiming your State Pension, or reviewing how much you have in a savings account. These steps are important for creating security, yet good retirement planning goes further than your finances. So, …
As you may know, inflation (or the “cost of living”) has been rising at a faster pace than usual. If you’re retired, the effect of inflation can be more pronounced and it’s important to understand how it could affect your lifestyle now and in the future. The Bank of England (BoE) aims to keep inflation at 2% a year. However, …
Flexi-access drawdown can provide retirees with more freedom to create an income that suits their lifestyle. However, Financial Conduct Authority (FCA) figures suggest that many retirees are taking unsustainable amounts from their pensions. It could mean they run out of money during retirement. The government introduced Pension Freedoms in 2015, which provide retirees with more ways to access their pension …
