Savings

Saving adequately for the future

How much should you try to save to have a comfortable retirement? The number of people saving enough for a comfortable retirement has hit its highest ever level, with almost three in five Britons (59%) now saving adequately for the future[1]. This is a significant improvement from the 55% proportion recorded 12 months ago, suggesting this April’s auto-enrolment step-up had an immediate positive impact on saving habits. However, recent research[2] shows that the proportion of …

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No pain, no gain

Planning to get where you want to be Successful saving and investing is arguably a lot like exercise – no pain, no gain. As is the case when undertaking a new fitness regime, if you properly commit yourself and stick to it, the eventual outcomes can be very rewarding. Many people have savings and investment goals in their life, from the old adage of saving for a rainy day to plan for a comfortable retirement. …

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Who wants to be a millionaire?

Getting there could be easier than you think – but you’ll need to start young Parents could make their baby an adult millionaire by starting a pension pot when they are born. Children born this year could become millionaires by their 43rd birthday if their families contribute to a pension for the first 18 years of their lives[1]. The analysis found that parents or grandparents contributing £2,880 per year (£3,600 after tax relief) until their …

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SIPP into your future

Extra flexibility over your pension savings in retirement It’s never too early – or too late – to start saving for your future. With retirement planning, it is important to take into account the fact we’re all living longer. Couple that with the fact that the cost of living continues to rise, and the value of the State Pension continues to dwindle – this provides a very strong case for starting to save early for …

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Retirement savings leap

But one in five young people still saving nothing The number of under-30s saving enough for retirement has risen sharply by 9%[1]. As the success of auto enrolment continues, two in five UK workers (39%) aged 22–29 years old are now saving adequately for retirement, up from 30% last year. Despite this, more than one in five young people (21%) are still saving nothing for later life, with a further 20% saving seriously less than …

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