£21,000 a year is the minimum needed for a comfortable retirement How much income do we need in retirement? It’s a question that can be difficult to answer, but new research tells us that we need at least £21,000 a year as a single person to live a moderate lifestyle, rising to £35,000 if we are living as a couple. More of us are saving in a workplace pension than ever before: but we also have more information, more choices,… Read more »
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Inflation Risk to Children’s Savings The Bank of England’s Monetary Policy Committee met at the beginning of August and a new inflation forecast is expected to be released that will show prices rising by close to 4% this year, far above its target of 2%. This means the costs of living is increasing at a rate that is far greater than the interest rate being paid on most children’s savings accounts. In other words, money that is being held in… Read more »
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The cost of living is rising: is inflation eroding your savings? If you have booked a holiday in the UK this year, eaten in a restaurant or bought new clothes, you may have noticed that the price of goods and services is rising rapidly. The Office for National Statistics’ most recent report measuring consumer price inflation showed that the annual rate of inflation rose by 2.1% in the 12 months to May 2021, up from 1.6% to April. Inflation rates… Read more »
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Taking tax-free cash from your pension at 55: It should be a last resort. Covid has brought financial challenges for many people. Some have faced significant loses either with redundancy or damage to their business. Many people have been forced to make changes, to take jobs they may not have previously considered and to adjust to significant lifestyle changes. When people are financially vulnerable, there comes an unstoppable flow of advertisements for quick fix solutions. Many people aged over 55… Read more »
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The fear of catching Covid 19 has brought profound lifestyle changes, and for many the pandemic has brought financial challenges. Yet, with society in crisis mode, it may be that not everyone shares the same financial story during the pandemic. Sadly, some people have faced the difficulty of redundancy, unexpected job changes and financial strain in the past months. But for others, work or retirement has carried on: whilst there may have been personal challenges, salaries and income have stayed… Read more »
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People often talk about the ‘Seven wonders of the world’, but did you know there are actually several different versions of the seven wonders? It started with the Seven Wonders of the Ancient World. It was based on guidebooks popular among Hellenic sightseers and only included works located around the Mediterranean rim and in Mesopotamia. The number seven was chosen because the Greeks believed it represented perfection and plenty, and because it was the number of the five planets known… Read more »
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