More than one in ten (12%) 20-35 year olds are prepared to ask their parents to access pension savings to help pay for a mortgage deposit, research from Old Mutual Wealth[1] shows. But only half as many over 55s are willing to use their pension to help children or grandchildren buy a home.
UK parents spend around £35,000 on their children by the time they reach their fifth birthday, according to research released by Aviva. This adds up to a total of more than £28 billion[1] spent on the nation’s 4 million under-fives each year.
Two-thirds (65%) of people aged 55 and over who are not yet retired believe that it should be compulsory to receive financial advice at retirement according to findings from Retirement Advantage.
Your pension is your life savings you’ve built up to give you the retirement you want. Since new pension rules came into effect from 6 April this year, pensions have become more flexible – including a cut in tax when a pension is passed on.
Just under a third (30%) of people believe the recent pension reforms will affect their plans for retirement income. Responding to a Schroders survey, of the people who said pension reforms will affect retirement, a significant proportion (45%) said they are likely to consider taking some money as cash and putting the balance in an investment fund.
Alternatives for income-seekers during a period of low interest rates
One of the tools available to the Bank of England to stimulate the economy is interest rates. Lower interest rates mean that it is cheaper to borrow money and people have more to spend, hopefully stimulating the economy and reducing the risk of deflation.
Alternatives for income-seekers during a period of low interest rates
One of the tools available to the Bank of England to stimulate the economy is interest rates. Lower interest rates mean that it is cheaper to borrow money and people have more to spend, hopefully stimulating the economy and reducing the risk of deflation.
Deciding how to weight your portfolio
Asset allocation is the bedrock of successful investing. The challenge for investors lies in deciding exactly how much to allocate to each asset class.
Investing in bonds, pooling your money with thousands of other small investors
Bonds are debt issued by either a government or a company and are an essential building block of many investors’ portfolios. When you buy a bond, you are effectively extending a loan to the issuer of the bond.
Professionally managed collective investment funds
Unit trusts and open-ended investment companies (OEICs) are professionally managed collective investment funds. Managers pool money from many investors and buy shares, bonds, property or cash assets and other investments. An open-ended fund could be visualised as a big pool of money – the money belongs to thousands of small investors.
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