Planning your next move for a comfortable retirement
It can be a daunting prospect to think about selling the family home, but it is a decision that many decide is the right choice for them once the children have long moved out and the upkeep seems too onerous. However, people don’t often consider the impact this could have on their retirement, according to new research[1].
In recent years, a growing realisation has formed that we’re in the middle of a new social phenomenon – the ‘sandwich generation’. The term ‘sandwich generation’ is often used to refer to those who care for both sick, disabled or older relatives and dependent children.
A million more women in their 20s could be saving adequately for retirement if they were able to access emergency cash from their pension, according to new research[1]. The latest Women & Retirement report highlights that the current lack of flexibility in pensions is a barrier to saving and that introducing the ability to access funds for unexpected bills could provide a much-needed boost to the nation’s savings.
Saving enough during our working life will not just give us freedom to manage our finances more flexibly, but it will also help us to secure a more comfortable lifestyle in retirement. Even though the baby boomers (the generation born between 1946 and 1964) are better off than any other generation, according to a new report[1], one in three (33%) people nearing retirement in this age demographic still don’t feel confident they’ll have enough funds to live on[2].
Taking a closer look at what you’re spending as a family can help make significant savings
It will not be too long before spring is finally upon us, and those winter months (even though we’ve had a really mild winter) will start to become a distant memory. But with spring comes a new tax year – the 2019/20 tax year is just around the corner.
