Planning for your future: Financial clarity in an uncertain world report

Our research explores the personal finances and investments of more than 1000 people across the UK, their views on priorities for retirement (including longer term planning) and threats to financial security. The findings have been published in comprehensive report, Planning for your future: Financial clarity in an uncertain world.

Watch the webinars here.

We have a long history guiding private individuals and their families through times of prosperity, conflict and economic downturns. Never in recent history, however, have we seen such turbulent times, with the reshaping of our relationship with Europe and a resurgent global pandemic. This report summarises how many people are currently reflecting on their personal circumstances and their plans for the future.

Minimise the uncertainty

There’s no better time to plan for the future than in uncertain times. The effects of COVID-19 on our lives and on the global economy are outside our control. So, it makes sense to focus on what you can do to minimise uncertainty and risk in achieving your personal financial goals.

Our research shows that many of us, whether working hard to accumulate wealth for family and retirement, or enjoying the fruits of our labours in retirement, remain optimistic about our finances. However, our research has also shown that without effective planning and preparation, that optimism can be misplaced.

Misplaced confidence?

Although most respondents feel confident that their financial affairs are in order, only a third think they will have enough funds in retirement to achieve their plans. Whether managing your approach to your savings and investments, your retirement funding, or your health, it really does pay to think ahead.

This report aims to draw some key messages from the experience and views of 1,022 people that can help you shape some key priorities for action, along with guidance from our tax, financial planning and legal experts.

Topics covered in the full report include:

• Assets and where they are held
• Attitudes to risk and investments
• Building and exiting a business
• Confidence in having financial affairs in order
• Funding retirement and pension funds
• Inheritance tax planning
• Planning for later life – Wills, Powers of attorney and long-term care planning
• Priorities when planning future finances and for retirement
• Sources of financial advice and how often people review their finances
• Threats to personal financial security

It also features an article summarising the top 10 personal finance actions you should take.

The topics covered in this report were explored in our recorded webinars.