Wellbeing tips and financial management strategies
What does it mean for you?
Planning for a longer life
With the average life expectancy increasing new challenges arise around health and how to stretch your finances further. Did you know the current pension age is 66 but in 2028 that's set to rise?.
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Research from the Office for National Statistics (ONS) shows that men aged 65 in the UK in 2023 can expect to live for another 20 years, on average, and women for around 23.
But averages only tell part of the story. According to the ONS life expectancy calculator, 1 in 10 men aged 65 today will live to 96, and 1 in 10 women will reach 98, which highlights the importance of planning for a longer life than you might expect.
While a financial planner might not be able to increase your life expectancy, they can absolutely help ensure those extra years are secure.
By creating a long-term strategy, managing investments, planning for healthcare costs, and making the most of tax-efficient products, a financial planner can help give you peace of mind and fulfilment, no matter how long your retirement lasts.
