What should you consider when thinking about your attitude to investment risk

Your view of risk in finances is personal. It's one that's often influenced by emotions, but other areas should play a role too. When you're considering how much risk to take, what factors influence you? We all know that taking too much risk for your situation can lead to losses. However, so can not taking enough risk. Rising inflation means the spending power of cash is eroded. With low interest rates, many cash savings have lost value in real terms in recent years. Investment returns that don't keep pace with ...

Supporting your family financially without putting your security at risk

Baby boomers want to pass on their wealth now, helping their loved ones improve their financial security. But many are worried about how gifting will impact on their own lifestyle and security. Choosing to gift wealth away rather than leave an inheritance has clear benefits. First, you’ll be able to see the impact your generosity has on the lives of your loved ones. Secondly, an inheritance is likely to come too late for many beneficiaries. With younger generations struggling to step on the property ladder, pay off debt and juggle ...

Why your 30s are the ideal time to boost savings

Research suggests that those in their 30s are the most disciplined savers. It’s often a time that’s marked by greater financial security and planning for the long term. It means that your 30s are an ideal time to start increasing how much you put into a savings account, plus there are benefits for getting into the savings habit sooner. According to research from Charter Savings Bank: Those in their 30s set aside 58% of their disposable income each month; compared to the national average of 42% With ...

The importance of considering care when calculating retirement income

Have you ever considered about the cost of care you may need to pay later in life? It’s not something anyone wants to think about but it’s becoming increasingly important. As life expectancy increases, more of us will need some form of care as we enter our later years. It’s a service that many are likely to need to pay for either wholly or partly themselves. However, according to research from Which? millions of people are underestimating the cost of paying for a care home. It's a ...