The gap between retirement dreams and savings

Some retirees could be facing a significant gap between their retirement dream and reality, research from Aviva suggests. While workers are making big plans for the next chapter of their life, some aren’t saving enough now to turn them into a reality. It’s a gap that could lead to disappointment in later years. When thinking about retirement, people often have ambitious plans. After decades of being restricted by work, employees hope to have more freedom to indulge their passions, from visiting new destinations to supporting the next ...

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 ...

Should you invest your children’s savings?

When we’re saving for our children, it’s natural to be cautious. You probably have plans for how the money will support them in the future, whether it’s purchasing their first car or helping them through university. But could a risk-averse approach mean that your children are missing out on valuable investment gains? Figures compiled by Money Mail suggest this is the case. Investing money could mean that over a 13-year period your child ends up with significantly more. The research found: If someone put £1,000 into a typical ...

Five ways to fall in love with savings again

Saving is important. You’ve been told that a thousand times. You know, deep down, that you need to be saving to give yourself and your family a brighter, more prosperous future. But sometimes, the urge to spend it all now, without thinking about the future is just too tempting. Boosting your motivation to save 1. Set specific goals If you have a specific goal in mind; you probably think about reaching it every time you put money away. However, if you are saving for a broader goal, such as ‘The Future’ or ‘Retirement’, ...