27th October 2016 at 6:00am
Are your finances in danger from having the life sucked out of them by predators, will they be left with barely a pulse in later life or could they even come back to haunt you?
With Halloween fast approaching we lift the coffin lid on some potential horrors.
Some fiendish financial tips
While no one really knows the true origins of Halloween, we do know it’s celebrated as a time when ghosts and spirits are believed to be abroad. The Celts conceived that on 31 October, the lord of death, Samhain, assembles all the evil spirits who had died the previous year and allows them to return home to visit the living.
At this spooky time when nerves are on edge and the smallest creak can raise alarm, we’ve your safety and financial health at heart. We don’t want to see any financial phantoms coming home to roost, wolves hounding your wealth or your legacy leeched.
With your wellbeing in mind, we’ve pulled together our popular Moneyplus blogs to share 5 tips to help pour a little holy water over your finances and provide some safe passage this All Hallow’s eve.
Bound to this mortal coil
While (I hope) none of us can claim to be amongst the legions of the undead or the ranks of the demonic immortal, one thing is for sure and that’s we’re living longer than ever before. As a direct result, many of us are now going to need our retirement savings to last for as long as 20-30 years.
It’s a balancing act and one of the biggest financial challenges many of us will have to face in our later years. However, there are ways to help achieve this with some careful planning and the right information.
Many need retirement savings to last as long as 20-30 years.
The dark abyss
When it comes to saving for a post-work life, crossing your heart and hoping for the best is not enough, failing to plan could leave you stumbling into a retirement abyss.
To help avoid any fiery pits, the MoneyPlus Features Team have highlighted 11 potential pitfalls many people overlook when it comes to their pension in “Pension Pitfalls to Look Out For”.
Trick or treat?
There’s a knock at the door, you smile and reach for the Halloween treats and open it only to discover something far scarier than the little vampire, it’s Lucifer himself tempting you with the prospect of unlocking your pension funds. The tactics he may use to beguile you include the offer of free financial reviews and health checks, promises of better returns on your savings, pension loans and even upfront cash. Be wary.
While online fraud is rising, scams can just as easily happen over the phone, by email, text, or face-to-face with fraudsters calling on people at home. It’s important to remain vigilant if you wish to protect your money against these financial bloodsuckers.
Scams can happen over the phone.
The MoneyPlus Features Team pull back the cape on the scammers and expose the dangers in ‘Stay one-step ahead of the scams’
Don’t fear the reaper
Avoid letting your finances come back to haunt your loved ones. None of us want to make life more stressful and upsetting for people we care about, but thousands of us do by not having inheritance plans in place.
The MoneyPlus Features Team look at how a pension could help exorcise any potential demons by playing a surprisingly important role in inheritance planning in ‘Pensions – the best way to pass on your wealth?’
The sum of our fears
Anxiety can affect your decisions…and your finances.
For many of us it’s not the bogey man we fear but a beast by another name ‘mathematics’. Some people who are otherwise confident in their their day-to-day lives have an irrational fear or mental block when it comes to doing any sort of maths. And this anxiety can drip feed into their financial lives too, especially when it comes to investing.
Jenny Holt helps us face up to our fears in ‘How you can overcome investment anxiety’.
We hope this ghoulish guide to financial fright has lit your lantern and the accompanying blogs provide a beacon that helps keep Satan from your savings.
All here at Moneyplus wish you both a safe and happy Halloween.
The information in this blog or any response to comments should not be regarded as financial advice. Pensions are investments and their value can go up or down and may be worth less than you paid in.