Planning for a Longer Life: Wellbeing Tips and Financial Management Strategies

Average life expectancies have increased significantly in recent years, both in the UK and around the globe. While living longer is undoubtedly good news, it brings new challenges for our health and, crucially, our finances.

The Importance of Wellbeing

Maintaining your physical and mental wellbeing over a longer life requires more than just good luck. It involves making intentional choices about your diet, exercise, mental health, and lifestyle.

Making Healthy Choices

Consider incorporating more fruits and vegetables into your meals. Regular exercise can also help keep your body strong and your mind sharp. Don't forget to prioritise mental health, too! Activities like meditation or simply taking time for yourself can make a world of difference.

Financial Planning for Longevity

At the same time, increased longevity means your financial resources need to stretch further. Financial planning becomes essential to ensure you can enjoy later life without stress.

Key Financial Considerations

As we age, several financial aspects require our attention:

• Delaying Retirement: Living longer may mean you want to delay your retirement. This decision can help you accumulate more savings and increase your pension benefits.

• Planning for Care: Rising life expectancy could mean it’s more important to plan for care. Consider how you will manage healthcare costs as you age.

• Estate Planning: Estate planning strategies may need to change if you’re planning for a longer life. It's wise to revisit your will and any trusts you may have set up.

  
  

Download Our Guide

To explore these topics further, download your copy here: Planning for a longer life: Wellbeing tips and financial management strategies. This guide will help you understand how a longer life could affect your long-term plans.

Seeking Professional Guidance

If you’d like to talk to us about planning for a longer life, please get in touch. We’re here to help you navigate these important decisions.

Please note: This article is for general information only and does not constitute advice. The information is aimed at retail clients only.

Please do not act based on anything you might read in this article. All contents are based on our understanding of HMRC legislation, which is subject to change.

The Financial Conduct Authority does not regulate estate planning, cashflow planning, tax planning, trusts, Lasting Powers of Attorney, or will writing.

A pension is a long-term investment not normally accessible until 55 (57 from April 2028).

The fund value may fluctuate and can go down, which would have an impact on the level of pension benefits available. Past performance is not a reliable indicator of future performance.

The value of your investments (and any income from them) can go down as well as up and you may not get back the full amount you invested. Past performance is not a reliable indicator of future performance.