Savvy Investor’s Post

By relying too much on their default pension investments, are scheme members at risk? BW highlights the problem with ‘setting and forgetting’ in the latest column from The Times 👉 https://lnkd.in/eDaPtXCh #pensions #investment

🧐 Is the new Pensions Bill setting retirees up for success? Jonathan Watts-Lay from WEALTH at work raises crucial questions about default investment options for trust-based #pension schemes. 💰 Will these defaults consider all of an individual's savings, or could they leave retirees in a sub-optimal financial position? Read more: 📌 https://lnkd.in/e_A5vC98 What do you think about the proposed changes? Share your thoughts below! #PensionsBill #RetirementPlanning #FinancialWellbeing #InvestmentAdvice #FutureFinance #wellbeing #retirement #pension #pensionscheme

Are pensions risky? A lot of people come to me feeling nervous about pensions – I get it They don’t fully understand what they are and they weren’t ever part of the maths curriculum at school, were they? Pensions are not tangible; you can’t see or touch them, they’re not exactly a hot gossip topic with friends and what’s more, you have to log in to take a look! Unlike property, you don’t really understand how your money is invested and you’ve heard stories of peoples’ pensions fall dramatically just when they were needed most. You may have also heard that when you pass your spouse will get nothing from your pension. And that is before the infamy surrounding Robert Maxwell and the circa £440 million pilfered from his own publication’s pension scheme. You rarely hear anyone say something good about pensions, do you? I’m here to make this simple for you – 1) A pension is simply a long-term savings product 2) A pension typically has great tax incentives. 3) Your loved ones are nominated to receive your personal pension pot in its entirety on your passing. 4) You have super-flexibility in how you take your money. It does not have to be drip-fed on a monthly basis … 5) You can invest in well-known shares and participate in the growth in companies that you are very familiar with. 6) I have spent nearly 25 years of my life working on pensions and I will be there to hold your hand on your investment journey – it’s my mission for you to feel empowered and in control – knowledge is power. 7) And if you still want bricks and mortar - it is possible to invest your pension in commercial property. Pensions are good …….. But maybe in the same way that a kale, ginger and turmeric smoothie for breakfast is good! #pensions #financialadvice #retirementplanning

Are you one of the millions who have lost track of a pension? Over £27 billion worth of funds are 'lost' due to people not staying on top of their pensions as they move job or change address. This is only set to rise. In GTM roles - this problem is exacerbated by the frequency ICs/leaders change companies. If you don't get on top of this early, how likely are you to: ❓Remember the 15+ pensions you may have by the time you retire ❓Keep track of the login details for each ❓Update your address every time you move ❓Manage each investment strategy appropriately ❓Actually know what you have available for retirement Even small lost pots could grow to be large sums over the next 20/30 years. Consolidation and a clear strategy mean you won't miss out. Saving you plenty of time and money in the long-run. #pensions #financialplanning #retirementplanning Source: The Pensions Policy Institute 2022 study

How well do you understand your pensions? A report from the British Social Attitudes (BSA) highlighted a number of key points: -         60% of people knew little or nothing about private pensions. -         Most people expect to retire in their 60s, typically age 65, which is below the current state pension age. -         Informal sources such as family and friends were the most commonly reported sources of information about retirement and pensions. -         58% of adults reported low confidence in their knowledge of pensions, 28% stated that they knew little or nothing about pensions. This illustrates that there are a lot of people who need financial advice and those who believe they are well informed may not be getting the right advice. A qualified financial adviser can demystify pensions & investments to help you achieve your financial goals. At Meredith Morgan Taylor we tailor our approach to give you and your family guidance, support and expert advice for now and the future. Contact us today for an initial chat to see how we can help you. The value of investments and any income from them can fall as well as rise and you may not get back the original amount invested. Planning for retirement: the pensions knowledge gap and attitudes to working longer | Phoenix Group (thephoenixgroup.com) Approved by the Openwork Partnership on 14/06/2024 #Financialadvice #Pensions

📢 Exciting news alert! The UK pensions landscape is on the brink of a major shake-up with the proposed introduction of a traffic-light system. This move, as reported in The Guardian, aims to simplify pension choices and empower individuals to make more informed decisions about their retirement savings. 🚦💰 By categorizing pension options into red, amber, and green, this new scheme promises greater transparency and clarity. It’s a bold step towards ensuring that everyone has access to clear and understandable information when it comes to securing their financial future. This potential shift has profound implications for both employers and employees, sparking important conversations around retirement planning and financial well-being. Amidst these developments, it’s crucial to stay informed and engaged to make the most of these changes. Join the discussion on the proposed UK pensions shake-up and share your thoughts on how this could impact the future of retirement savings. Let’s navigate these changes together and pave the way for a brighter financial future. #Pensions #RetirementPlanning #FinancialWellBeing https://ift.tt/vyUi5Ch

When planning for retirement, the right investment can make all the difference. Explore the pros and cons of buy-to-lets versus pensions and find out which could be your ticket to a secure and comfortable future. Remember, diversifying might be the key! https://lnkd.in/eU4JDzWA

When planning for retirement, the right investment can make all the difference. Explore the pros and cons of buy-to-lets versus pensions and find out which could be your ticket to a secure and comfortable future. Remember, diversifying might be the key! https://lnkd.in/eCxMSy2H

Ahead of today's budget, one issue I feel passionate about is the need for all of us to be more engaged with our long-term retirement savings. I believe a key way to achieve this is to rename pensions - 'lifetime savings accounts'. This would signal the fundamental difference that exists between today's defined contribution schemes and the defined benefit schemes of the past - the former not actually being a pension but rather a pot of savings. It is vital that investors engage, nurture their 'pot', understand the risks, the returns being earned and the level of contributions required. In countries like Australia and the US there is greater engagement, leading to more investment in domestic equities, more investment in smaller growth businesses, delivering higher returns. In the UK we lag behind in part because pension saving is a passive exercise and engagement is too low. I doubt this will feature in Rt Hon Rachel Reeves budget but would encourage the government as part of their review of pensions to look seriously at changing the language. It could signal a fundamental reset in how we manage saving and investment for ourselves, and to futureproof our families. It would also provide more capital to support the government's investment, growth and wealth creation ambitions. Please do watch the video below setting out my thoughts https://lnkd.in/euAxXGFc The Association of Investment Companies (AIC) Annabel Brodie-Smith Nick Britton, CFA, MCSI Vanessa Booth Juliet Webber Nick Gardner Gay Collins Cathy Pitt Alexander Denny Debra Henderson-Burton Rebecca Mayo MCIPR Louise Vaughan #investmentcompanies #investing #pensions

How to solve a problem like underinvested pensions? The UK has a pensions crisis. Around 13 million workers, or two-in-five working-age people, are not putting enough into their pensions to meet the minimum target for an adequate retirement, according to the Resolution Foundation. They measure an adequate retirement as at least two-thirds of a worker's pre-retirement income. Prosper is designed to make saving into investment accounts simple, transparent and low cost. Our mission is to take away the complexity from long term investing so you can focus instead on the life you want to live We promise to keep our fees at zero or as low cost as we possibly can, if you promise to keep prioritising your retirement. Tom Blomfield was an early investor with Prosper and that is why he has shared this quote with us. He is our unfair advantage in gaining brand awareness organically without spending money on marketing. Prosper founder and CEO Nick Perrett and Chairman Ricky Knox have previously worked together building Tandem Bank. The company is backed by the founders of Monzo, Capital One and Admiral and other leaders in financial services. Capital is at risk. Prosper is designed for long term savers who want to maximise the potential value of their wealth over the next decade or more.