Defined Benefit and Defined Contribution pensions—what are the differences and trends?
As Defined Contribution (DC) pensions overtake Defined Benefit (DB) pensions (in terms of money paid into schemes) for the first time ever, increasingly people are taking an interest in how the two differ and the relationship between them. The Office of National Statistics has reported that in 2018, employee contributions…
UK households are struggling to save; what are the effects?
In 2018, a study found that one in four adults have no savings. Many people in the UK wish that they had money to save, but high monthly expenditure and repaying debt seem to take precedence. Saving for life’s unforeseen emergencies is a great way to maintain a sound mind,…
6 mistakes to avoid during retirement
Planning for retirement can be complex, as anyone nearing the end of their working life will tell you. Yet, navigating the myriad of choices, both socially and financially, doesn’t have to be such a mystery. Here are a few tips to help you avoid common mistakes that retirees often make:…
5 common pitfalls that put your retirement plans at risk
Imagine the scene; you’ve spent your entire working life living frugally, saving efficiently and investing wisely. You begin your well-deserved retirement financially secure and excited for the years ahead. The future could develop in one of two ways; the first could lead to sustained security and the financial freedom to enjoy…
What makes seeing a financial planner like having an MOT?
We’re all used to taking our cars for their MOT, aren’t we? The test includes checks on the lights, bodywork, brakes, suspension and much more. It’s designed to make sure that your car is roadworthy and safe to drive, to prevent any accidents or breakdowns. This got us thinking that…
Should you diversify your ‘Life Portfolio’ for a happy retirement?
Obviously, being in a robust financial position in later life is crucial for a happy retirement. After all, it’s difficult to be truly happy if you’re continually stressing over money and having to think of new ways to make ends meet. That said, money certainly isn’t everything! Even if you…
What you need to know about ISAs in 2019/2020
The rules around Individual Savings Accounts (or ISAs) change on a regular basis and the popularity of the different types of ISA is often determined by where savers think the most competitive place to put their hard earned money is. ISAs are an excellent way to save because of their…
How long will your retirement nest egg last you?
Retirement planning means taking into consideration a whole range of factors. You have to navigate difficult questions like: How should I invest my retirement pot? What will the impact of inflation be? How much income/capital should I withdraw and when? On top of these, there is another question that must…
Average weekly household spending—how does yours compare?
In January, the Office for National Statistics (ONS) published its latest Family Spending Survey, making public the details of British spending habits. In its 61st year, the report offers an insight into how UK families spend their money, as well as revealing how family spending habits differ between areas of…
Spring Statement—March 2019 Overview
The chancellor—hair freshly cut for the occasion—rose to speak after a Prime Minister’s Questions which featured a slew of jokes about Theresa May’s lost voice. He wasted no time in making his views on Brexit even better known, and returned to the topic consistently throughout the speech. The economy was…