Long-term financial planning proving increasingly difficult

Cash ISAs were the preferred vehicle for those planning over the long-term

Sahar Nazir
clock • 1 min read

Almost a third (31.5%) of consumers find planning financially for the long-term difficult, according to a report from Scottish Friendly and the Centre for Economics and Business Research.

The study, which included a survey of 2,600 UK consumers, revealed that women, parents with children still at home, renters, disabled people, and those classified as long-term sick were particularly likely to find it difficult to plan for the long-term. Nearly a third (32%) of respondents said long-term financial goals – which includes retiring early, paying off mortgages early, or leaving an inheritance for the family – was their main priority. For those planning over the long-term, cash ISAs were the preferred vehicle with more than a quarter of people (25.9%) choosing them over pen...

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 Your profession

Advisers sound alarm on £442m wasted on LoA inefficiencies

Advisers sound alarm on £442m wasted on LoA inefficiencies

Regulator should play ‘proactive role’ in addressing LoA inefficiencies

Sahar Nazir
clock 17 May 2024 • 5 min read
Feel Good Friday: Firms who made the Best Places To Work 2024 list

Feel Good Friday: Firms who made the Best Places To Work 2024 list

The Sunday Times’ research on the employers who meet key metrics

Professional Adviser
clock 17 May 2024 • 1 min read
Advice firms need to adopt 'operational excellence'

Advice firms need to adopt 'operational excellence'

‘Operations roles are critical to driving business success’

Isabel Baxter
clock 16 May 2024 • 2 min read