Independent Financial Life Planners Bishop's Stortford: What’s your life expectancy?

Thursday, 29 October 2015

What’s your life expectancy?

More and more people are receiving their 100th birthday cards from the Queen these days according to the Office for National Statistics. Enable’s experienced IFA’s in Bishop’s Stortford note that back in 1981 only 2,420 got a card, and if you go back to 1901 you would have been lucky to have made it to age 50. But a girl born in 2011 has a one in three chance of making it to 100 and the odds are only slightly lower for a boy at one in four.

The problems posed by an ageing population are obvious with fewer people of working age and more people in retirement, which means that tax increases are necessary as the pressure on the welfare state grows. The Kings Fund think tank predicts the number of people aged between 65 and 84 will increase by 39%, between 2012 and 2032 and the number of 85 pluses will soar by 106% while the number of people aged 14 to 64 will increase by a tiny 7%.

This can pose real challenges for pensions as Dr Ros Altmann explains: " With all the developments in healthcare, medicine and working practices, people are living longer and staying healthier, being able to live well with illnesses that people used to be disabled by or die of. But that means retirement is lasting longer too - so your pension savings have to cover you for many more years than you might have expected when you started." Enable’s IFA’s in Bishop’s Stortford can help you make plans.

Issued by: Enable Independent Financial Life Planners  25c North Street, Bishops Stortford, Herts CM23 2LD Telephone: 01279 755950 - Fax: 01279 657339  Enable Independent Financial Life Planners is a trading style of Enable Independent Limited is authorised and regulated by the Financial Conduct Authority. It is important always to seek independent financial advice before making any decision regarding your finances. If you would like any assistance, please contact us. NOTHING CONTAINED IN THE ARTICLES SHOULD BE CONSIDERED AS GIVING INDIVIDUAL FINANCIAL ADVICE

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IFA Bishop's Stortford

At Enable Independent we know that our clients trust us and rely on our advice to help them to plan a better, more secure financial future. This is a responsibility that we take very seriously especially because we know that many clients have chosen us on the recommendation of friends and family. Each one of our advisers has deep expertise in their area of specialist knowledge and, as a team, we hold some of the highest qualifications available in the financial advice industry.

Our job satisfaction comes from using our skills to find workable, affordable and flexible solutions to meet our clients needs. Whether we are planning for known future funding requirements such as house purchase, school fees or income in retirement - or for the unforeseen such as job loss, long-term illness or early death, our independence from any product provider enables us to view the marketplace impartially. Our training permits us to look beyond a product's marketing hype and select on the basis of its fitness for purpose.