Many people are reviewing their financial plans as part of having to adjust to a ‘new normal’ in recent months, either through choice or necessity. For some, lockdown has lead to a realisation that they do not wish to fully return to how things were previously, whilst others are being forced to reconsider their plans as a result of corporate restructuring. It may not be surprising that a recent survey suggested up to two thirds of working adults in the UK intend to review their savings and investments within the next six months.
What research is saying
The research undertaken by data analytics firm Boobook suggests
- Three in five of those surveyed are planning to review their investment and savings goals
- A third of the UK based participants stating they were planning to review their retirement plans.
- Of those surveyed, 43% in the UK were planning to keep their long term investments and retirement plans but may make changes.
How can we help?
If you have been considering a review of your financial plans or simply think it is time to develop your own plan, then our bespoke financial planning service could be for you. Our tailored process, which incorporates use of the latest cashflow technology, enables you to consider a range of scenarios and empowers you to answer those burning questions:
- How much do I need to save?
- Could I reduce my hours or even retire?
- Can I afford to give money to my children?
At Herbert Scott, we have developed a relationship-based service that is focused on helping clients gain clarity around what is they are trying to achieve. We then create a plan that is targeted to deliver on the identified goals and aspirations. Of course, our service does not stop there as we are committed to working with you over the long term and supporting you through those unforeseen ups and downs that life tends to throw at us from time to time.
If you would be interested in hearing more about Herbert Scott’s service, please contact us on 01273 407500. For other articles linked to retirement planning please click here.