Guest Blog: ‘Approaching retirement? Be sure to avoid the biggest financial mistake of your life.’

Guest blogJulian Knight, Personal Finance Editor of the Independent on Sunday, writes exclusively for Investment Sense: The majority of people should seek advice when purchasing an Annuity, says Julian Knight, personal finance editor of the Independent on Sunday. Not to do so could severely impact their retirement. It’s one of the biggest financial decisions you can make but many people spend no more than a few minutes signing on the dotted line....

How to avoid falling into the Interest Only mortgage trap when you retire

No surprise as interest rates on hold for another month_istockNew research, from the Independent on Sunday newspaper, has found that more than a quarter of a million people with Interest Only mortgages could retire by the end of this decade whilst still having the debt outstanding. Popularity of Interest Only mortgages Interest Only mortgages were very popular in the 80’s and 90’s when they were often set up with Endowments or ISAs (Individual Savings Accounts) as repayment vehicles. However, ...