Craig McConnon

People of all ages find themselves in debt from time to time. From credit cards to loans and even mortgages, most people owe some money somewhere. Sometimes the debt can become too much, especially if you find yourself on the verge of being retrenched, then your income is going to disappear and paying back these debts is going to be even harder than anticipated. Also remember at any age, you want to be saving for your retirement, something you should be looking at from the day you start work. Stop Borrowing Money Today The very first step to getting out of your debt quickly is to top borrowing. Often you will find you use your credit card as you near the end of the month so you can continue your current lifestyle. Not using the credit card may mean you cannot go out this weekend or you cannot buy the new furniture you wanted straight away, but you won't be borrowing more money and therefore it will help you pay back the debt much faster in the long run. Set Up

There has been quite a reshuffle when it comes to retirement age in the United Kingdom. It has gone as far as Chancellor Philip Hammond possibly using the November 22 Budget to refocus on the balance between young and old, getting the younger to pay for the older so that they can benefit. The concern is that official data has suggested that the elderly are already working for longer than they anticipated to ensure their financial security before retiring. This is becoming a common trend and we are seeing our older generation working longer and longer in order to secure their financial security, bridging the gap between an inadequate pension pot and a longer retirement. In fact the Department for Work and Pensions in the United Kingdom released statistics who show that the average retirement age has exceeded sixty five for men for the first time and women are closing in very quickly. There are more than one in ten men working over the age of seventy, while eight

One of the most important questions you should be asking yourself is whether your pension pot is enough to last your retirement years. Analysis has shown that if you are putting down more than five percent per year, you could still not have enough for your retirement, in fact you could have an empty bank account by the time you reach eighty. In fact the analysis focused on people retiring in 2000 with a £100,000 pension pot and found that if the saver withdrew seven percent each year, they would run out of money by 2014, that gave them only £7,000 per year. For those who only took six percent a year, they still had a small amount left in 2014 but still not enough left by the time they reach 2020. This information is valuable for anyone who wants to manage their limited savings to ensure a financially secure retirement. Men should manage to enjoy retirement for around eighteen years and women for twenty years. Final salary schemes are safe and ensures that the