Daily Archives: July 27, 2023

Signs of optimism in global economy

Posted on July 27 2023 by wpManager

Although the global economy continues to face significant headwinds, statistics released during the first few months of this year have revealed unexpected signs of resilience. This has led economists to begin upgrading growth forecasts, while the World Economic Forum’s latest … Continue reading →

Striking a balance

While recent financial challenges
have taken their toll on everyone’s
pockets, it comes as no surprise
that parents are putting concerns
about their children’s finances above
their own, as highlighted in a recent
survey of advisers1

Over half (55%) of the advisers
surveyed noted that adult children
were taking priority in clients’
wealth planning at present, with
many taking action to assist with
their children’s financial struggles
amid the cost-of-living crisis

The main requests by parents
wanting to lend a financial hand
include releasing funds (25%) for their
adult children, while over half (55%)
of the advisers have clients choosing
to access their pension savings in
order to enhance their disposable
income to support family members,
with 18% of those clients taking
an additional lump sum specifically
to help their offspring. Reportedly
53% of advisers have clients keen
to adjust their finances, with 40%
requesting advice on ensuring
investments stayed ahead
of inflation

Although people are understandably
concerned about their children’s
financial circumstances and are
keen to help, it’s important to be
mindful about striking the right
balance and not to lose focus on
your financial objectives for your
own future. For help in striking that
balance, get in touch.

1 Royal London, 2023