19th July 2022
Vulnerability To Financial Shocks
As more people reject traditional working structures in favour of becoming self-employed, some may face financial insecurity as they forego employee benefits that provide protection in the present and financial planning for the future. This post looks at how vulnerable the self-employed are to financial situations that arise out of the blue.
As living costs rise and private rents and mortgages in the UK rise at the fastest rate in five years, a quarter (24%) of those polled said they only had enough money to cover such costs for three months if they were unable to work. Despite the research emphasising the group’s vulnerability to financial shocks and the importance of expert financial advice, one-quarter (24%) say they haven’t considered seeking professional advice.
Tomorrow we will look at what is available toself-employed people’s vulnerability to financial shocks and how they can help protect themselves when situations like this arise.
Please contact us for more information on how we can help protect your future financial well-being and the options available to you.