The age to start making long-term financial provision is...

clock

British adults have reported that 28 is the age to begin building long-term financial provisions, Bright Grey has said.

According to the provider's Financial Safety Net report, those aged 35 and over said 28 was the age to begin making financial provisions. But it also showed 4% of respondents only realised the need at age 50 or above. One in 20 said they did not need to plan financially for the long term at all. Roger Edwards, managing director at Bright Grey, said: "Twenty-eight is around the age that, for many, they may take key lifestyle choices such as buying a first property, getting married or having a child. "With these changes can come responsibility, and this means waking up to the very...

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 Protection

Listen and learn: Protection must change how it communicates

Listen and learn: Protection must change how it communicates

'Maybe it's time we start to make fewer assumptions'

Kevin Carr and Alan Lakey
clock 30 April 2024 • 4 min read
Cognitive biases in advice and the psychology of insurance

Cognitive biases in advice and the psychology of insurance

A look into client decision making and its effects on protection uptake

Jaskeet Briah
clock 25 April 2024 • 5 min read
Aviva completes £460m acquisition of AIG Life after CMA delay

Aviva completes £460m acquisition of AIG Life after CMA delay

'It's disappointing to lose another protection insurer from the market'

Cameron Roberts
clock 10 April 2024 • 2 min read