Cost of care concerns holding back retirement aspirations

When you take responsibility for your retirement income, you’ll need to factor in many different influences; one of them being care. However, research suggests that many baby boomers are concerned about spending in retirement because of future care costs. Taking control and having confidence in your finances can help you enjoy retirement to the fullest. It’s easy to see why it’s a concern. The cost of care can run into the tens of thousands of pounds and, in many cases, it falls to the individual to pay for it. As ...

Calculating a target retirement income that suits your aspirations

Understanding the level of income you want to achieve in retirement is vitally important for staying on track. Yet, research suggests thousands are struggling with working this figure out. Without a target in mind, it can be all too easy not to save enough for retirement, believing your current provisions will be enough. It can lead to a retirement that’s disappointing and, in some cases, may even cause financial struggles as a result. Alternatively, you could be in a position to comfortably retire sooner than expected, but, without a goal, ...

Planning for unexpected early retirement

Early retirement is something many people look forward to. But when it’s a decision that’s taken out of your hands, it can leave you in a financially vulnerable position. Whether you plan to give up working while in your 50s, wait until State Pension age or even continue working past this point, it’s an important financial decision. As you save into your pension and build up other retirement provisions, you’ve probably invested some time into considering when you’d like to give up work and when it will be possible financially. ...

Why planning for retirement should start in your 40s

To get the most out of it, retirement requires planning. Yet, many of us leave it until the milestone is just a few years away, by which point it may be too late to make changes that are potentially needed. While you may have been saving into a pension since you started working, you may not have given much thought about what your contributions actually mean for retirement. Often in your 40s, your financial focus is on other areas, perhaps you’re paying off a mortgage or supporting children through education. ...