As I wrote in Start Late, Finish Rich, there are no miracle answers for people who are starting late with a small or non-existent retirement pot. However, it could be even worse if you don’t expect to fully own your home by the time you retire. This is not a pleasant subject which is possibly why I’ve never seen an article on it before. You shouldn’t despair though; the earlier you get around to sorting this out, the better off you should be in your later years.
Tag: Savings
Motley Fool: Ten Tricks To Boost Your Savings
We Brits have become enthusiastic borrowers in recent years. Indeed, our personal debt (including mortgages) has grown by 9% a year over the last thirteen years. Alas, we haven’t done quite so well when it comes to saving. According to the Bank of England, since the end of 1997, our savings have increased by an average of 7.5% a year.
Motley Fool: How, When And Where To Invest
Many people are scared of investing. They prefer the safety of leaving their cash in a bank or building society. While it’s true you won’t see the value of your savings lurch up and down on a daily basis, we’re going to show why failing to invest can cost you money in the long term. And we’re not talking about a few pence, we’re talking about thousands and thousands of pounds!
MoneyExpert: Alliance And Leicester Launches 6.1% Current And 12% Savings Accounts
Alliance and Leicester has launched a new account offering customers 6.1 per cent interest on the contents of their current accounts.
Scotsman: How Rich Are We? Better Not Ask The Banks If You Want The Bubbly
BEST advice when you’re in a hole is to stop digging. So if I had any sense, I would draw a veil over last week’s promise of a bottle of bubbly for anyone smarter than me at analysing savings data, and move on.
Scotsman: Supporting Your Club And Saving
WHILE most football fans can never hope to equal the income of the top players they idolise, soccer can actually encourage people to save. But canny investors should be aware supporting your club won’t give you the best savings rate on the market.
Motley Fool: My Favourite Student Bank Account
So you’re about to go to university and you’re hunting around for a good student bank account. If you can get to grips with your finances right from the start, you won’t regret it in future years, as I’m sure many, many debt-laden post-grads could tell you. The less debt you have when you finish, the faster you can pay it off and start saving that deposit for a house.
MoneyExpert: Average Adult Has Double Recommended Minimum Savings
The average adult in the UK has almost double the recommended minimum financial ‘safety net’ squirreled away in their bank accounts, according to Birmingham Midshires.
Motley Fool: Why These Investments Are Not For Me
Years ago, deciding where to put your long-term money was a toss-up between a savings account and a few blue-chip shares. Nowadays, you can pretty much park your hard-earned anywhere.
Motley Fool: How To Fix Your Savings
Here’s a question for you: is it better to fix the interest rate on your savings or find the best rate on offer from easy-access accounts?