Older individuals who lose their jobs are less likely to secure re-employment
Older workers are one group of people who are at risk of suffering serious and persistent consequences from the economic turmoil arising from the coronavirus (COVID-19) pandemic. In particular, older individuals who lose their jobs are less likely than younger workers to secure re-employment or to find a job on a similar wage to their previous earnings.
Young people are faced with a unique set of challenges when it comes to saving for retirement. One of these is perception. They can often think of their ‘future self’ as a different person and so may prefer holding on to their income for more immediate priorities, like a first home deposit, rather than saving for someone they perceive as a stranger.
Living in a place where the lifestyle and cost of living matches your financial situation
Are you ready to spend your golden years in comfort, style, and maybe even a bit of luxury? As a retiree, you’ll want to be able to live in a place where the lifestyle and cost of living matches your financial situation.
Ensure your future income will allow you to enjoy the lifestyle you want
Preparing for retirement is like getting ready for a journey, it never goes quite as planned. But the better the plan, the better the outcome. When things go wrong, you want to have the flexibility to adapt to changing circumstances. You never know what retirement will be like until you get there.
Preparing ourselves for life to be really strange for some time
The only constant in life is change, which is why individual financial life planning should not be a one-off exercise. Reviewing your finances regularly is essential if you want to stay on track to meet your financial goals. Making sure your finances are in the best possible shape will also make sure you stay on course to achieving everything you want.