What are your options if you’re approaching retirement with debt?

With income from regular work stopping when we retire, being debt-free at this milestone is often a goal. However, it’s not always possible. Whether you still have a mortgage or credit cards, it can be worrying to enter retirement with debt still to your name. However, there are likely to still be many routes you can choose and still be financially secure. If you find yourself in this position, you’re not alone. The fact that the first-ever retirement interest-only mortgage, that’s fixed for life, launched this year, highlights how many retirees are ...

Which is more important; health or wealth?

Some want a six-figure pension pot; others are more focused on getting a six pack. Turning 40 affects people in different ways, but the urge to pay more attention to health or wealth is a common one. Whilst saving for your future is massively important, research from Prudential suggests that more over 40s are improving their health than their financial security. Taking steps to become healthy in retirement undoubtedly has its benefits, but why aren’t people making their financial stability a priority? What concerns do over 40s face? In a study of 1,057 adults ...

Retirement: 600,000 people set to raid their pensions, 7 reasons why they should be careful

600,000 people set to raid their pensions, 7 reasons why they should be carefulThe Government has revealed it expects 130,000 each year to take advantage of the new ‘Pension Flexibility’ rules and raid their pension pot. At the same time they also have shown how much the Government’s coffers will also benefit. According to new figures the new measures will raise £4 billion in additional tax receipts over the next five years. The new rules have been broadly welcomed by most people. But if you are one of the 600,000 people planning ...

Thousands getting into debt to meet housing costs

iStock_000007329749XSmallNew research has shown that thousands of people are taking out loans to help them keep up with their rent or mortgage payments, whilst many more are burying their head in the sand over late payments. Research from the housing charity Shelter, has found that nearly 20% of mortgage holders and tenants have had to take borrow money to keep up to date. Furthermore around 10% of people are concerned they will not be able to pay their mortgage or rent at the ...