Category: Finance for Contractors

Professional contractors have been reminded of the importance of preparing financially for their future.

Brits are not saving enough for their long-term requirements, said Patrick Connolly, head of communications at financial advice firm AWD Chase de Vere.

In the past, people have fallen back on the state provision or worked for the same firm all their life and built up a pension, but this is not a safe bet in the current climate, he warned.

"People have to rely on themselves. Too many people are simply not doing so," Mr Connolly commented.

"Mostly people are just not aware of what is in store for them, particularly when they hit retirement," he continued.

Brits should consider a whole range of investments, the expert advised, including property, cash, shares and fixed-interest investment.

By spreading financial commitments across different products, falls in some areas can be countered by growth in others, Mr Connolly explained.

Posted by Daniel Kelly