Financial Freedom

During the last decade, technological advancement in the workplace coupled with changes in the economy make it impossible to sustain and predict income. In this ever changing environment, the requirement for a passive income becomes crucial, due to the following risks:

• As the economy changes more jobs will be outsourced
• Younger staff can be brought in at cheaper rates
• Requirement for school fees and university planning
• Work pressure means that individuals need to work longer hours
• Some individuals also have elderly parents to provide for
• Children remain dependent for longer as they struggle to get on the housing ladder
• Changes in state pension means you have to wait till age 68 for a pension you may not even get.
• Every £100,000 in your pension can only provide £5,000 per year, meaning several individuals will have a pension shortfall
• Health issues may reduce your capacity to work