Your Money - Your Future
News & Views
The gender divide
Reflecting on 75 years of State Pensions In the 75 years since the inception of the State Pension, we’ve witnessed dramatic shifts in the workplace and significant strides towards gender equality. Yet, a stark reality remains: women are more likely than men to depend solely on the State Pension for their retirement income. The State Pension currently stands at £886 per month, granted to those eligible for the full amount under the contemporary rules. Eligibility hinges on having either paid or been credited with 35 years of National Insurance. New research reveals that nearly half (49%) of women are unaware of this stipulation, compared to 40% of men[1]. This disparity is especially concerning in light of the fact that almost two million women (29%) anticipate relying solely on the State Pension in retirement versus only 13% of men. [...]
Monday, December 18, 2023Read More
Are you ready to invest?
Establishing safeguards before embarking on an investment journey Investing comes with its share of risks, which can sometimes lead to partial or total loss of your savings. Assessing your financial situation and establishing safeguards before embarking on an investment journey is essential. The decision to invest should hinge on your financial goals. Are you looking to increase your wealth, generate regular income or both? Do you have a specific growth target for your savings or a minimum required income? Generally, investments require a minimum commitment of five years to overcome market fluctuations. This is especially important if you’re nearing retirement. Clearly defined goals will guide your risk-taking limits to achieve your desired outcomes. [...]
Monday, December 18, 2023Read More
Monetary matters
Decoding investment strategies for better financial decisions Entering the investment world can feel like deciphering an enigma, particularly for beginners. The vast array of options and approaches can often lead to bewilderment. However, the first crucial step on this journey is to identify your financial aspirations. Are you aiming for long-term wealth accumulation or after more immediate returns? Pinpointing your specific goal will aid in selecting suitable investments and fostering wiser financial decisions. [...]
Monday, December 18, 2023Read More
The reality of retirement
Are you sure your target retirement age aligns with your financial status? In today's fast-paced world, the concept of retirement often takes a back seat. For many, it remains a distant reality, mired by uncertainties and apprehensions. However, planning for retirement is an essential aspect of financial planning, which warrants attention from an early age. Retirement is a phase many of us eagerly anticipate, dreaming of the day when we can step away from the grind and immerse ourselves in activities that bring us joy. Yet, the reality of retiring often hinges on financial preparedness. Let's delve into four critical considerations to help you evaluate your readiness for retirement. [...]
Monday, December 11, 2023Read More
Taking the first step
Introduction to investing for beginners Embarking on the journey of investing can seem intimidating initially, but with a long-term perspective, it can significantly accelerate the achievement of your financial goals. It's normal to feel a mix of excitement and apprehension as a first-time investor. There's a lot to navigate – stocks, bonds, mutual funds, market trends and a sea of unfamiliar jargon. Remember, every successful investor started right where you are now. The stock market is known for its fluctuations, with dips and rises being part and parcel of the game. However, history evidences that shares often outperform cash over extended periods and stay ahead of inflation. Here are five essential tips to help you take the first step and beyond. [...]
Monday, December 11, 2023Read More
Inflation and your retirement income
Several strategies to lessen its impact on retirees The recent surge in inflation could be a source of worry if you're a retiree relying on your pension for income. It's natural to question the resilience of your retirement income plan in the face of escalating prices and how it might influence your lifestyle and long-term aspirations. Mitigating the effects of inflation is crucial for all savers and investors, but it's even more so for retirees. [...]
Monday, December 11, 2023Read More