Get saving!

The following information dates from Thursday, February 20, 2003, but it's still interesting...

Did you know that we have a long-term savings shortfall of £66 billion, which is threatening the future financial security of almost two thirds of the population (29 million adults) if no action is taken to close it?

This figure, taken from recent research from IFA Promotion, serves to highlight the extent to which people in Britain are all massively under-providing for themselves, not only in terms of retirement income, but also across all forms of long-term saving. In fact the research reveals that six in ten people are saving an average £2,263 too little per head...this year alone!

How much are we saving?

• A third of people have no savings at all.

• Over 50% of people have less than £1,500 saved.

• Only one in eight people (12%) have a savings pot of more than £20,000.

• 57% of those above average wage face a savings shortfall.

How frequently are we saving?

• Over a third of people in the UK have been unable to save in the last three months.

• Nearly half of people in full-time employment fail to save every month.

• Men tend to be more active savers than women – 42% of men say they save every month, compared to 39% of women.

With the input of independent financial advice, you can take steps to ensure you are providing adequately for your future financially. Our highly qualified advisers can help you work out the best strategy for your savings and pension provision, and how best to balance your savings, investments and borrowing as cost-effectively as possible.

Take control of your finances! Use our Contact Us page now to arrange a free no-obligation consultation and discover how to begin putting your long-term savings in order, or if you'd simply like to know more about how we can help you.

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