One Size doesn’t fit all

What’s the safest way to save for retirement?
The ONS asked respondents to their Wealth and Assets Survey covering Great Britain covering July 2016 to June 2017 about their preferences in planning for their retirement.  “There are a variety of ways in which people can save for their retirement including pension schemes, savings accounts, investment in property and other investments. Non-retired adult respondents to the Wealth and Assets Survey (WAS) are asked to choose one option from a list of possible options to identify the one they consider to be the safest way to save for retirement. “ 
The majority considered it to be employer pensions (40%) with 30% saying property. 13% said personal pensions and 5% saving accounts.3% selected other with 2% opting for premium bonds and investing in 1% stocks and shares.

This variety really shows the plethora of options but also differences in attitudes.  That is why when working with clients at Beaufort Wealth Management Limited, we have a set process in terms of exploring and gather data and client attitudes to risks but no set recommendations as they are entirely driven by the clients’ financial goals, attitude to risk and capacity to loss and even then, when we talk through our findings the client remains in control in selecting the options which they feel most suit their goals.