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After a lifetime of hard work, maybe it’s time to take a step back and reap the rewards of your hard work. Whatever you want to do next, good independent financial advice will help you to plan for the future.     

WHAT RISING LIFE EXPECTANCY COULD MEAN FOR YOU

In the UK, 65 years of age has traditionally been taken as the marker for the start of older age, because it was the official retirement age for men.


NO LONGER AN OFFICIAL RETIREMENT AGE
In terms of working patterns, age 65 years as the start of older age is out of date. State Pension age is rising, and increasing numbers of people work past the age of 65 years. People are also living longer, healthier lives. In 2018, a man aged 65 could expect to live for another 18.6 years, while a   woman could expect to live for 21 more years. So, on average, at age 65 years, women still have a quarter of their lives left to live and men just over one fifth.

POPULATION PROJECTED TO CONTINUE TO AGE
In 2018 there were 11.9 million residents in Great Britain aged 65 years and over, representing 18% of the total population. This compares with the middle of the 20th century (1950) when there were 5.3 million people of this age, accounting for 10.8% of the population.

OLDEST OLD ARE THE FASTEST-GROWING AGE GROUP
The oldest old are the fastest-growing age group, with the numbers of those aged 85 years and over projected to double from 1.6 million in 2018 to 3.6 million by 2050 (5% of the population).

WHEN CAN YOU AFFORD TO RETIRE?
After a lifetime of hard work, maybe it’s time to take a step back and reap the rewards of your hard work. Whatever you want to do next good independent financial advice will help you to plan for the future.     


Woodward Markwell provide an initial complimentary financial healthcheck meeting to discuss your individual needs. Whether you are an individual or a business,  an initial consultation with one of our experienced advisers is free of charge and without obligation.


You can rely on us to provide a friendly, personal service along with high standards of professional advice.

To discuss any of the above, please give our team a call on 01473 408422.