13 July 2017

Smart Money – July and August 2017

Link: Smart Money July & August 2017 (opens as a pdf)

Welcome to our latest edition of Smart Money. If a week in politics is a long time, then the eight weeks of general election campaigning seemed like an eternity.

Prime Minister Theresa May’s snap UK election surprised many people. Despite polls narrowing substantially over the course of the election campaign, a Conservative-led government was considered the most likely result by investment markets. After weeks of campaigning – and with no outright winner – a hung parliament was declared. On page 06, we consider why investors should keep focused on their long-term financial goals and not panic following this period of political uncertainty.

With the UK’s population ageing, more people will be living with long-term care needs. Oscar Wilde once said: ‘The tragedy of old age is not that one is old, but that one is young.’ But the good news of rising life expectancy also brings with it the challenge of how we fund our future care costs. The question is: who is responsible for looking after us if we need care in old age? Turn to page 04 to read the full article.

Millions of workers across the UK could be heading for a significant shortfall in the amount of pension they need for an adequate income. The World Economic Forum has issued a warning that calls on the Government to impose faster pension-age rises as it earmarks the UK as one of several countries facing a ‘pension time bomb’. Turn to page 03.

The full list of the articles featured in this issue appears on page 02.

To discuss any of the articles featured in this issue or your wider financial planning requirements, please contact us at our Swansea office on 01792 483860 or email us at info@portfolio.org.uk