Short menu for money skills9/8/2023 ![]() ![]() “Rich people have small TVs and big libraries, and poor people have small libraries and big TVs.” – Zig Ziglar 2. Step your money game up with these interesting, inspiring, humorous and wise quotes. These are the quotes that I really like, resonated with me a lot during my financial journey, or made me laugh a bit. While there are thousands of finance, money, and investing quotes out there, I only chose a small portion of them to keep this simple, yet informative. I’d recommend even keeping some of these financial quotes at your desk as a healthy reminder or for motivation. Looking for finance quotes and quotes about money that can inspire you to take charge of your financial life?Įven if you aren’t in search currently, these quotes will keep you motivated and make you think differently about finances and money.įor me, besides these personal finance books, reading these particular quotes about money helped me get in the right financial mindset. " xlink:href="# flipboard "> Share on Flip it ![]() It should rightly be the choice of the saver however, it is vitally important they understand how these decisions will impact their future selves.Share on Twitter Share on Facebook Share on Pinterest Share on LinkedIn ![]() It is also understandable savers may be considering ways to increase their immediate cash flow during the current economy, which may include opting out of their workplace pension or decreasing their contributions. The decisions savers make now could have a significant impact on their long-term financial resilience and retirement income This is a short-term gain for a long-term disruption. Over 55s can withdraw from their workplace pension pot however, those nearing retirement should know that dipping in too early could have a significant impact on their future retirement income.įor example, a person with £100,000 in their pension at 55 can expect to see it grow to almost £165,000 by the time they reach 65 (if they don’t pay in anything additional), based on annual growth of 5%.īut if they take £25,000 out at 55, bringing the pot down to £75,000, it could grow to only £123,000 – a potential loss of £32,000. Financial education is about more than understanding how much money savers will need in retirement – it should also include the financial implications related to accessing or changing pension savings. It is designed to help those who need to make informed choices about pension contributions, whether and how to access their savings and to signpost to additional sources of support, including mental health organisations, free and impartial information from PensionWise and MoneyHelper, as well as information about accessing pension credit, cost-of-living payments or help with energy costs.Īchieving a strong financial footing in retirement starts early in a saver’s life, even during times of economic hardship such as the current crisis. It is intended for pension schemes but there is lots in there for advisers as well. We have recently published some cost-of-living guidance. If they take £25,000 out at 55, bringing the pot down to £75,000, it could grow to only £123,000 – a potential loss of £32,000 The financial decisions savers make now – both in relation to their pension and otherwise – could have a significant impact on their long-term financial resilience and retirement income.įinancial advisers and pension schemes are well positioned to offer additional support to savers at this time. The rise in food costs, energy bills and gas prices have caused increased financial strain across the country and are likely leading savers to seek additional help. ![]() These heightened inflation rates have put everyone’s finances under pressure. It is impossible not to have noticed the rising cost of living over the last year, with inflation reaching a 41-year high in October and remaining stubbornly up there well into 2023. ![]()
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