When planning their retirement savings, most people follow one of these patterns: No retirement savings or hardly any. Haphazard savings with no planning. Fixed savings each month. Saving a fixed percentage of their income. Do any of these sound like
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Retirement Income Is The Wrong Focus
How much retirement income do you need? It’s a question you can read in plenty of blogs about retirement planning. On the face of it, it sounds like a sensible question. You probably know how much income you’re making before
Read moreAI: The Future Of Financial Advice?
Scarcely a day goes by without a news story on AI or Artificial Intelligence. Sometimes the story is about a shiny new future, like self-driving cars. Often the story is more scary, for example how AI will disrupt the jobs
Read moreRisk Reduction Before Retirement
According to conventional wisdom, you should undertake financial risk reduction in the years leading up to retirement. This has resulted in the use of funds that gradually reduce risk, such as target-date funds. In this article, I ask whether or
Read moreAnnuity Dilemma: Deal or No Deal
Buying an annuity with your pension savings used to be automatic once you retired. Over time, annuity rates got steadily lower. Some retirees were able to opt for income drawdown instead, leaving their pension pot invested. Even then, they had
Read moreProperty: A Powerful Investment Lure
Property (or real estate if you prefer) is what many people instinctively feel is the safest form of investment. It’s bricks-and-mortar, right? However property investment can take many forms. Here’s a brief survey of the main ones. Property as a
Read moreWhen Is A Risk Not A Risk?
Some of us get a thrill out of taking a risk, perhaps enjoying occasional gambling. But still, most of us would rather reduce risk around the important things in our lives. It’s somewhat of a truism that there’s no reward
Read moreRetirement Planning Using Rules Of Thumb
We all like rules of thumb. They promise to simplify our lives. For instance, we’ve all probably heard the saying “Red sky at night, shepherds’ delight; red sky at morning, shepherds’ warning”. That’s a traditional rule of thumb for weather
Read moreConfirmation Bias When Retirement Planning
You might not have heard the term confirmation bias before. This is when you favour evidence that supports your pre-existing beliefs, ignoring evidence that contradicts them. It’s not a rare condition that only a few people have; in fact we
Read moreWhat’s the Difference Between Forecast and Projection?
Most people wouldn’t be concerned about the distinction in meaning between the words forecast and projection. It may seem purely academic, or of interest only to statisticians or economists. For us at EvolveMyRetirement, it’s crucial, as it’s what sets our
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