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

Chancellor vows to swerve Tory government planned investment cuts 'mistakes' - reports

Chancellor vows to swerve Tory government planned investment cuts 'mistakes' - reports

Rachel Reeves makes pledge head of Autumn Budget

Sorin-Andrei Dojan
clock 04 October 2024 • 1 min read
Dynamic Planner links up with Adviser Cloud

Dynamic Planner links up with Adviser Cloud

Partnership intended to improve client data transfer for financial advisers

Sahar Nazir
clock 04 October 2024 • 1 min read
Model portfolio sales slow in H1 after 2023 boom

Model portfolio sales slow in H1 after 2023 boom

Sales increased by just 6% in H1 2024

Sahar Nazir
clock 02 October 2024 • 2 min read