Uncategorized // March 29, 2017
Thanks to advances in technology, we live in a world that is constantly changing and evolving. In fact, due to the rapid advances in health and medicine, biotechnology promises to dramatically extend the average human’s lifespan to the extent that if you’re currently 40 years old or younger and remain in good health, you can expect to live to be over 100. But how do you plan financially for all of this extra time?
Recent analysis by the Department for Work and Pensions has suggested that many people won’t be able to receive their state pension until the age of 70 and even those who do receive their pensions earlier, may find that it simply isn’t enough. To carry on enjoying life during old age, it’s important to have enough money saved to fund those holidays that you’ve always dreamed of, and with at least 20 extra years to fill with fun, setting up a pension plan that is right for you is becoming increasingly important.
Helping you to get a clear focus on your future and peace of mind, starting a pension plan gives you financial security for the rest of your life, even if you end up living until 133 – the expected lifespan for people who are currently 5 years old!
Over half of the UK’s population either aren’t putting anything at all into a pension plan, or aren’t saving enough to give the kind of life they envisage when they grow older. This is a worrying trend as it means that many people will find themselves struggling when it comes to retirement, especially since their retirement is likely to be quite long.
With various different funds and schemes on the market, there will always be one to suit your specific needs, but trying to get to grips with them all can be overwhelming. Our professional financial advisors are able to offer support to help you plan, and advise on how to maintain your quality of life throughout its entirety.
Research is shown on www.mindvalleyacademy.com