When you have elderly loved ones, it is important to think about the next few years, their financial security and that of their family and friends. Anticipating the potential problems they may encounter in the future is essential. For this, they are several types of insurance available for seniors, but it is not always easy to find the right insurance for them. This article will aim to inform you about the different insurances available and will hopefully allow you to make more informed choices in the future. Life Insurance Who is involved in a life insurance contract: The …
Best Ways to Invest your Money
If you or your loved ones are thinking about investing your money but you are a bit lost on how to begin, this blog is for you! It gathers tips and suggestions to find your way in this somewhat obscure world of finance. Investing your money, this matter may seem secondary to some people. It is quite common to think that people need a lot of money before thinking about investing. But actually, just putting our money in a bank account is a form of investment. So, now that we realise that we are investing our money without really knowing it, it is important to focus on this question: …
A Guide to Pensions
The pension system in the United Kingdom is one of the oldest and most complex systems in Europe. It was developed by entrepreneurs in the form of pension funds at the very beginning of the industrial revolution. As the funded pensions have historically dominated the country for a century, most of the pension burden rests on the shoulders of private sector employees and employers through private insurance. The retirement system may appear very complex, which is why we have created this guide to help you and your loved ones understand it a little better. This guide is dedicated to …
10 Ways to Save Save Save!
It’s not always easy to know how to manage expenses when your loved one only has a small pension. Once retired, income can decrease significantly, and it can be difficult to save money without having an additional income such as part time work. Luckily, many solutions exist to compensate, which is why in this article we have compiled 10 of the best and most effective ways to save money! 1. Write Down your Expenses Writing down expenses - no matter how big or small - is a good way to find out how much money your loved one has in their pocket every month. The first step is to …
How to Reduce your Bills
Many elderly people find themselves on a fixed income in later life; For most, this comes in the form of a pension or some kind of benefit. Relying on pensions or benefits can make it difficult to keep up with ever-rising bills and payments, elderly people can also find themselves with health issues which in turn can be costly, and make it even more difficult to save money. Even if your loved one is living comfortably and has some extra cash to spare, it's always advantageous to cut back on expenses and leave more cash for a rainy day or special occasion! A study by Age UK found …
Finance Tips for you and your Elderly Loved Ones
Financial security is something we all aspire to have and to see our loved ones enjoy. However, according to a study by the Financial Conduct Authority, about 15 million people have no pension savings which means one in three retirees within the UK will have to rely completely on a state pension. The current state pension sits at £159.55 per week and without an additional private pension or life savings, this means that elderly people could be struggling throughout their retirement. These facts may seem bleak, but there are simple and effective finance tips which can be followed …
