To effectively plan for the future, it helps to try and connect with your future self. One reason you may find it difficult to imagine your future self is that most of us feel significantly younger than we actually are. Even when looking in a mirror, it can be hard to correlate our real age with how we look or feel. In fact, according to a US study of more than 500,000 people, most feel around 20% younger than they are, KFF Health News reports. A key problem with this struggle to imagine our future selves is that it can make it harder to commit to saving for retirement. In our 30s, most of us consider our 60-, 70-, or... Read More

“When are you going to retire?” It’s a common question you may have been asked, and at some stage it’s one you’ve probably asked yourself. Compared to previous generations, the answer many people give these days is not as clear cut as it may have been before. For example, an obvious answer to that question for our parents would have been when their State Pension started. Now, with amendments to State Pension Age, that is likely to no longer be the case. Likewise, Pension Freedoms legislation makes taking retirement income from your pension fund more flexible, meaning that the date you choose to stop work can be equally flexible. I recently read a book that adds an extra dimension to... Read More

The whole process of making your own predictions or being guided by the predictions of others is a key part of our lives. From what the weather will be like tomorrow to how long it will take to drive to a certain destination, forecasts and estimates are part and parcel of what you do and when you do it on a daily basis. At that level, the worst outcome you might face is getting caught in a rain shower without an umbrella or arriving late for a meeting. However, problems can arise if you start relying too heavily on predictions when planning your financial future. This applies in two key areas where such predictions are commonplace: economic outlook and investment... Read More

The halfway point of a calendar year is a good time to take stock of what happened during the first six months. After all, learning from the past is often a useful discipline when it comes to helping you navigate the financial challenges you may face in the future. So, read my analysis of some of the key economic activity you’ve experienced so far in 2023, and what you might expect to see before the year is over. July can be a better time to take stock than January Although the start of the calendar year is the traditional time to read articles about what to anticipate in the coming months, actually focusing on financial issues in any detail can... Read More

One of the best routes to personal success in any endeavour you undertake is to learn from the actions of those who have done it successfully before. As a financial planner, I come into contact with, and help, many financially successful people, both in the course of my work and through background study I carry out into personal finance more widely. So, I feel I can give you some insight into my observations and research when it comes to the habits of successful people. With that in mind, read about some of the lifestyle habits I’ve noticed financially successful people acquire and benefit from. To avoid covering some of the same ground I’ve gone over in some previous articles, I’ve... Read More