Worrying about money?

Dominic Thomas
March 2025 • 2 min read
Worrying about money?
Admittedly, all of us respond differently to pressure and some of us (if not all of us) create our own. I say this as a slight caveat to the statement I will now make. More than half of those aged over 55 are worried that they will run out of money.
This is the finding of research conducted by Oxford Risk, a rather bright bunch that offer services for modelling, measuring, managing and explaining risk to you our clients. As ever, the sample size of the survey wasn’t vast at just a touch over 1,000 people (all over the age of 55). Only 27% of them were not worried about running out of money in retirement.
It won’t please Gen X, Z or Y that around 12% are worried that they will likely be dependent on their children for financial support in their retirement, which when some reports laud the age of an enormous wealth transfer, clearly this will not be everyone’s experience and I suspect the hoped-for inheritance to finally enable joining the property market may be short-lived. It won’t help if your estate suffers a lot of inheritance tax.
Of course, some of this may be merely a reflection of the current cost of living crisis and inflation which at checkouts and cash registers seems to stubbornly ignore ONS official data. It may have something to do with a growing awareness of the exorbitant cost of care or maybe the apparent fragility of the state of the world.
I would love to be able to tell you that we can provide complete reassurance about the future, but it is of course unknown. What we can do is work with your real spending patterns and plans in conjunction with your existing resources and create a plan to avoid running out of money. This relies on regular reviews and sense-checking of our assumptions and your objectives. The intention is obviously to empower you to make informed decisions and have a high degree of confidence about the future, but no one can actually guarantee this, despite what they may be willing to tell you.
We aren’t afraid to wrestle with reality and construct a viable, sustainable plan for your future that will deliver successful outcomes, albeit within the context of a changing and imperfect world.
You don’t need to be worrying, we have a plan that will alleviate this, this is what we do and have done with great success.