3.6 million Britons have lost track of their pension savings
The more old pensions you have, the easier it is to end up losing one. Tracing pensions from years ago can be a hassle. Over 3.6 million Britons admit they have no idea how many pensions they have and risk paying more in fees than necessary, according to new research.
Women are being urged to think about their long-term savings
Imagine reaching retirement age and discovering that, despite years of saving, you don’t have enough money to get by. Worse still, suppose you’re unable to pay for the right kind of care in your old age.
The COVID-19 pandemic has affected every part of our lives and continues to have a widespread impact across all aspects of financial life. This includes retirement plans. Life in lockdown prompted many people to adjust their priorities, for example, to move nearer to family, take staggered retirement or retire earlier.
Millions battling with financial hardship, relationship stress and sleepless nights
Fear, worry and stress are normal responses to perceived or real threats, and at times when we are faced with uncertainty or the unknown. So it is normal and understandable that people are experiencing fear in the context of the COVID-19 pandemic.
Freeing up funds or releasing money tied up in your home
For some people, using their home in the future to fund their retirement is likely to become more commonplace, whether that’s by downsizing to free up funds or releasing money tied up in their home through products like lifetime mortgages.
An emergency fund is money you put aside to cover a financial shock. This could be losing your job, or a large, unexpected expense. Building an emergency fund can help prevent your needing to borrow money or make difficult financial decisions in those moments, by giving you savings to fall back on.
The everyday choices we make all have impacts on our planet
Our changing climate is making it harder to live in many parts of the world, often affecting some of the most disadvantaged communities. People are starting to realise that change is imminent and necessary.
Keeping up your current lifestyle and enjoying your golden years
People planning for retirement should think hard about what they want to do when they eventually stop work. It is helpful to have a good idea of the lifestyle you want, how much it will cost and how you are going to pay for it.
S4 Financial Ltd is an Independent Financial Advisory firm, which is authorised and regulated by the Financial Conduct Authority. S4 Financial Ltd is entered on the FCA register (https://register.fca.org.uk/) under reference 401372.