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What are some of your financial goals, and the stresses that compete with them?

33% of us worry about running out of money in retirement. But how to balance the long-term with today's more immediate needs? 

 

I'm always quietly squirrelling away 

 

 

Its just stressful trying to balance saving with living a life today. 

 



How to balance the short-term and the long-term?

Money can be overwhelming. If you're at financial base camp, the top of the mountain can look so far away that it doesn't feel worth even putting the boots on! But like our physical fitness, taking those first steps and starting to invest in your future can be hard but ultimately rewarding. Here are some bite-sized steps which will help the longer-term picture without too much pain!?


  • Workplace pension
    Most of us now have a pension at work, even if you work for a small firm. Ask about your pension at work. 5% of your wages should be going into this with another 3% top-up from your employer. Try not to opt out if possible as you'll lose this 'free' 3%. 

  • Pay off expensive debt 
    There is little point investing or saving if you are carrying expensive debt such as credit card debt or payday loans. Make these your focus to pay off first or investigate transferring to a 0% deal to give yourself some time. 

  • One more 

Holly's tip: " insert"

 

 

 

Investor Pulse - what you told us

 

Every year, BlackRock ask people from all over the world, including UK, how they think and feel about their financial health.

This year, they went deeper than ever to understand the connection between your financial health and well-being. 

This edition of Investor Pulse was conducted at a time of unique political, cultural and social upheaval.To better understand how these forces affect financial health, we listened to more people than ever.

When it comes to balancing the stresses of today with the aspirations of the future, here is what you had to say:

  • 45% of us believe money is the most significant cause of stress
  • Then 35% say it's health, 31% work and 31% family
  • 54% say that the high cost of living is their top concern
  • After that it is concern about the state of the economy
  • Running out of money in retirement was a concern for 33% of you
  • 46% of 18 - 24 year olds are working toward shorter term goals such as vacations/holidays

Visit BlackRock to learn more about Investor Pulse.