Nick Homer: The new financial priority

'Dramatic shift'

clock • 3 min read

Nick Homer explores the ‘dramatic shift’ in workers’ financial priorities revealed in Zurich’s in-depth protection report. As pension saving becomes a priority for many, should protection follow?

The financial crisis was associated with mounting household debt, not just here in the UK but globally. Between 2008 and 2016, the median debt-to-GDP ratio in advanced economies grew from 52% to 63%, while emerging markets saw that figure soar from 15% to 21%, according to the International Monetary Fund. For years, the headlines of personal finance pages highlighted this financial vulnerability, detailing the stresses even well-paid individuals and families suffered when trying to pay their monthly bills, which often included spiraling consumer debts. But there seems to have been a q...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Retirement

How advisers can play a role in boosting wellbeing in retirement

How advisers can play a role in boosting wellbeing in retirement

A happy retirement is the 'north star'

Cecilia Furner
clock 08 November 2024 • 3 min read
Partner Insight: Embracing the future of retirement planning

Partner Insight: Embracing the future of retirement planning

Brooks Macdonald
clock 31 October 2024 • 2 min read
Pension tax rules uncertainty shows 'need to shift retirement planning'

Pension tax rules uncertainty shows 'need to shift retirement planning'

Needs to include wider considerations of capital drawdown beyond pensions

Isabel Baxter
clock 24 October 2024 • 2 min read