When you think of financial planning, pensions and savings will spring to mind. But, whilst often overlooked, protection should be a core part of your financial plan.
Providing an income or nest egg for your loved ones to enjoy, long after you are gone
The way that you decide to take your pension will affect what you can do with it when you pass away. While it’s not always easy to talk about, the way you eventually pass on your pension has the biggest impact on other people, so it will help talking to your spouse, children or other people close to you when you’re deciding how you take your pension savings.
Pandemic threatens pushing over-50s into pension poverty
More than half (53%) of people in their 50s fear running out of money in retirement, as they have been the most likely to face job and income losses of any age group during the coronavirus (COVID-19) pandemic (23%), according to a new report.
COVID-19 increases desire for sustainable investing for half of UK adults
The coronavirus (COVID-19) pandemic has prompted a desire to move into ethical and sustainable investing for more than half (51%) of advised UK adults, according to a new report. And while the trend is common across the generations, it’s Millennials who are leading the charge.
One in eight older workers extend their planned retirement age
The coronavirus (COVID-19) crisis has disrupted many people’s working lives in ways we couldn’t have imagined. It’s been deeply worrying to see some people now planning to retire earlier than they intended – including many who have been on furlough.
Intergenerational planning and wealth transfer between advised families
Following the coronavirus (COVID-19) pandemic outbreak, UK adults admit they need financial advice for their current situation. A report, which looked at intergenerational planning and wealth transfer between advised families amid the financial volatility and insecurity of the pandemic, found that more than half (53%) of UK adults surveyed say they have been prompted to seek advice from a financial adviser.
Knowing how much risk you are comfortable taking is key
All investments carry some degree of risk. When you invest, you make choices about what to do with your financial assets. Risk is any uncertainty with respect to your investments that has the potential to negatively affect your financial welfare.
Looking for a wider choice of investment options?
Saving for your retirement is one of the longest and biggest financial commitments you will ever make. Imagine you’re retiring today. Have you thought about how you’re going to financially support yourself (and potentially your family too) with your current pension savings? The pension freedoms introduced in 2015 provide even more of an incentive to look again at your retirement savings.
Do you need to take action to avoid risking additional tax charges in retirement?
When it comes to your pension, you might assume that the more that you can save into it, the better. But that’s not always the case. Once your pension savings reach a certain level, you may need to take action to avoid risking additional tax charges in retirement.