Investing in your future should be an absolute priority for anyone that has any excess money. With this in mind, Laura Richardson considers the options that are available for someone like you that may be interested in investing in your future . . .
According to a report by financial consultancy LCP, over 6 million people have financially benefitted during the Covid-19 pandemic thanks to a drastic reduction in outgoing expenses. Those who have been able to eliminate expensive commuting and work-related travel costs by working from home and those who would normally travel abroad regularly have arguably seen the largest savings over the last year. The over 55 age group has reportedly been able to save mainly through a lack of international travel, as well as cutbacks in eating out.
The report comes as a stark contrast to data released from the Office for National Statistics in December 2020 which showed that over nine million people relied on borrowing additional funds than usual during the year, with millions of UK residents facing financial hardship due to redundancies, cuts in pay and additional energy and food costs due to working from, or home-schooling from home. The ONS report clearly shows that sadly financial gain has not been a significant outcome for the majority of UK residents during the Covid-19 pandemic.
However, if you are among those that have been able to save significant amounts in the last year, you may be considering what the best financial options are in order to get the best benefit from your savings. There are several options available including reducing current debts, providing a financial back up in case of adversity, or investing in a pension. It is always advisable to undertake a financial review of your current status following any major changes to your finances, including an increase in savings. If you are one of those fortunate enough to be looking for financial options for your increased savings, we at Andrew Douglas Wills & Legal Services can help you!
At Andrew Douglas Wills & Legal Services, we are proud to work with our trusted partner firm in order to offer a professional and experienced financial advice service that is fully regulated by the Financial Conduct Authority. Our expert partners offer a full range of financial advice and services from pension and retirement advice, investment services including private client, corporate and offshore investing, tax reviews, protection reviews, and much more. For further information about the services our trusted partner provides call Andrew Douglas Wills & Legal Services today to arrange your free initial consultation.
At Andrew Douglas Wills & Legal Services, we are proud to offer an expert Estate Planning service backed by a wealth of experience in order to ensure that your chosen beneficiaries will receive the most possible from your Estate after you pass on. Andrew Douglas Wills & Legal Services remain fully operational during the Covid-19 pandemic, so whether you are in Braintree or the surrounding areas of Essex call today to arrange your free initial consultation.
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