Making Money How do you know if you're on track financially?
29 snips
Jan 23, 2025 Explore how to gauge your financial progress heading into 2025. Discover the essentials for retirement savings and what attributes to seek in a pension fund. Learn about diversifying your investments and the critical differences between good and bad debt. Uncover the importance of emergency funds, rebranded as 'flexibility funds,' and get tips on balancing savings while managing debts. Delve into age-appropriate savings targets and strategies for navigating the evolving financial landscape.
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Lump Sum Advice
- Seek professional advice when handling a lump sum to avoid costly mistakes.
- Attend free webinars or consult financial advisors for guidance.
Mean vs. Median Savings
- Mean average savings can be misleading due to high-net-worth individuals.
- Median savings figures offer a more realistic view of typical savings.
Low Savings Prevalence
- Many adults have minimal savings, highlighting the importance of an emergency fund.
- A third of UK adults have less than £1000 saved.