22% of UK adults expect that they will never be able to afford to retire, equating to almost 8 million people, according to latest research. A report from the Department for Work and Pensions also found that there may be 12 million individuals who are not saving enough for their retirement. But what can individuals do to save more, even when they think they can’t afford it?
View of the Day
Who’s happy being a first-time buyer in the current marketplace? While today’s young people have it better than previous generations in some respects – flexibility in work, a greater ability to travel and more information than they’d ever need at their fingertips – millennials face lower wages, poorer retirement prospects and longer commutes. But perhaps worst of all, they are confronted by a housing market that gradually moves further and further out of reach.
The property sector is facing an existential threat. The high street is struggling owing to the rise of e-commerce and occupier preferences for more modern, flexible spaces are altering the traditional demand dynamic.
Meanwhile, secular trends, including the roll-out of 5G technology and an ageing population are also having an impact on the real estate sector.
Here, five investors discuss how these long-term themes are redefining the property market.
The UK market is at an inflection point, with the benign environment of the first half of 2019 giving way to heightened political and macroeconomic concerns.
UK investors continue to face headwinds, such as the possibility of a general election and the upcoming Brexit deadline – not to mention external trade tensions.
As US managers, we understand many of the arguments about the American market. “It’s all about FANGs” (Facebook, Amazon, Netflix, Google), for example, is something that we hear a lot.
Certainly, the FANG stocks have performed well and led the market higher. However, the US market is the most diverse in the world and has more to offer investors than large technology companies.
Not only do we have a new prime minister in Boris Johnson but, after a brutal overhaul of the Cabinet, a new government that is very different to the last one.
A picture is emerging of a government steadfastly committed to taking the UK out of the EU by the 31 October – deal or no deal – and resolved to putting prudence and deficit reduction on hold, and loosening the fiscal purse strings instead, with big pledges made on spending.
When dealing with the division of finances on divorce, the primary focus is, unsurprisingly, on valuable assets such as the family home and pensions. It is all too easy for couples to forget about the less obvious aspects of their financial circumstances, but it is important not to overlook them.
New UK Prime Minister Boris Johnson has vowed to deliver Brexit by the 31 October deadline, ‘do or die’. This will not be easy, given Johnson faces the exact same impasse that led to the downfall of Theresa May.
Theoretically, there remain four possible scenarios – the UK exits the EU on 31 October without a deal, a further extension to Article 50 is granted, PM Johnson somehow wins concessions from the EU, or the UK government revokes Article 50.
Decades of rising property prices and stock markets mean that increasing numbers of estates are falling into the web of inheritance tax, despite the fact that inheritance tax is effectively a voluntary tax that can be mitigated with some careful forward planning. Death may be one of the few certainties in life, but many people do not like to think about it, let alone plan the financial consequences of it many years ahead.
The Gender Pay Gap and its resulting savings among high-earning men and women appears to be getting even worse not better.