Making sufficient financial preparations for the future
Retirement savings have plummeted among those aged 55-64 over the past year as the cost of living continues to rise, according to Aviva’s latest Real Retirement Report.
Tag: savings
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Cashing in on alternatives in 2014
Taking a step up the risk ladder means assessing your appetite for risk
It has been a torrid time for cash savers over the past five years. The Bank of England Base Rate has been on hold at its 300-year low of 0.5% since March 2009. Although there have been murmurings of a possible rise in interest rates on the horizon, savers should still explore all the options available to generate a return from their savings.
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Annuities
You’ve spent years putting money aside into a pension scheme, but what actually happens once you retire? Sadly, it’s not as simple as just withdrawing the money. You must now convert your pension pot into an income that will last you for the rest of your life, which is typically done by buying an annuity.