If you’ve spent a lifetime saving for retirement, you’d probably like any remaining money to go to a loved one after your death. But whether pension benefits are payable to a beneficiary, and how they’ll receive them, is dependent on the type of pension you’ve chosen and how you’ve accessed it in your retirement.
The New Year is a great time to make financial resolutions but, unfortunately, achieving financial goals isn’t quite that simple. Habits become ingrained and hard to overcome. For some of us, the resolutions we set, financial or otherwise, can quickly become overwhelming.
Across the UK, parents, grandparents, family and friends have been reaching into their pockets to help young, hopeful buyers and even growing families to make their housing plans a reality. These generous lenders are often funding most or all of the deposit buyers need to step onto or up the ladder.
A lot has been made of the gender pay gap, but what’s not so well known is how this can affect women in retirement. Unsurprisingly, women don’t fare as well as men when it comes to the savings they’ve built up for a healthy and economically stable retirement.
Have you decided what will happen to your property and belongings after your death? It is never too early to be thinking of making a Will and to ensure that your assets and estate go to the people you want them to. If you don’t, that may not happen.
Managing your current and future finances successfully can be a minefield in today’s economic climate. The coronavirus (COVID-19) pandemic has derailed many a financial plan, ushering in job losses, decreased earnings and creating lifestyle changes that have the potential to send our spending into an unhealthy cycle.
Life changes when you retire – and so does how you spend your money. Whatever your plans, it’s important to keep on top of things and think about the lifestyle you want. It’s also worth noting the average life expectancy at age 65 years is 18.6 years for men and 21.0 years for women[1].
The coronavirus (COVID-19) pandemic crisis could leave the next generation of retirees significantly poorer and sicker. 4.8 million people over 50 and in work fear losing their job because of the COVID-19 pandemic, according to new research that reveals fears of finding a new role[1].
Young people have been one of the worst-affected groups from the coronavirus (COVID-19) pandemic, particularly in terms of the labour market and mental health outcomes. But it’s their parents and grandparents who are paying the price financially.
When long-term relationships split up, there are a host of implications for mortgages, savings, tax and Wills requiring careful consideration to avoid hardship. If you are contemplating divorce, are in the middle of divorce proceedings or dissolving a civil registered partnership, it’s important to understand how the current economic and financial situation could affect you.
