The life expectancy within the UK has increased to 81.60 years according to recent government statistics. https://www.ons.gov.uk/
However as we age we seem to take more care of our health unfortunately the same cannot always be said for managing our financial well being. Whilst it can be argued that the failure to save has to do the cost of living and the increase in a disproportionate rate to earnings.
Start Planning Now
It is never to early to start planing for your financial future, For those approaching retirement this may feel like a pointless exercise. With falling disposable income levels in the UK this can intensify the feeling of despair leaving many with a lack of motivation to save
There is however still time to change your way of thinking and take steps towards saving for your imminent retirement.
Reducing expenditure can make a small but positive difference to your disposable income
It is also worth seeking out a self-invested pension plans (SIPPs) that offer investors access to a diverse range of assets.
The key is a change in thinking, by prioritising your financial well – being and retaining a sense of optimism for the future.
Ensure that you seek out Expert Guidance
Whilst their is only you that can be responsible for your financial outlook, accumulating and managing wealth may require you to seek out some expert guidance. This enables you to tailor your circumstances and financial planning so that you can achieve your objectives and grow your wealth as quickly as possible.
Seeking out the guidance of a independent financial adviser who with expertise in the field will be able to help initiate motivation, help you focus on managing your wealth and creating a larger retirement fund for the future.
There’s one thing that separates investors from savers, their underlying sense of determination, along with a appetite for managed risk, enables them to see opportunities in a declining economic climate, as savers look to stockpile their capital somewhere safe.
In the current climate Investing can be a good option to build and manage your wealth offering better potential returns than high street bank accounts.
There are many things in which You can invest, shares, bonds, property and a range of other assets. These can all give you higher return, but of course, they are also riskier than cash accounts. Therefore before investing it is important to decide on the right balance between risk and potential return.
Disclosure: I am not qualified in financial matters and would always encourage you to seek advice from a qualified financial adviser before making any decisions that will affect your finances.