News.

Jonathan Watts-Lay, Director, WEALTH at work, a leading financial wellbeing and retirement specialist, comments…

The cost of living crisis shows no signs of abating, piling pressure on every type of household after inflation rose by 9.4% in the 12 months to June 2022.

A survey of 2,000 UK adults was conducted by WEALTH at work, a leading financial wellbeing and retirement specialist. It asked people if there was anything they wish they had done differently when it comes to their finances, and what they wish they had known.

Over two fifths (42%) of UK adults say the increase in the cost of living has meant that they have reduced or stopped any regular savings.

A fifth (21%) of individuals have experienced someone trying to scam them out of their money, savings or investments.

Nearly half of UK adults (47%) say that financial worries impact their life and more than a quarter (26%) say that it makes them feel depressed and anxious, rising to more than a third (35%) of 35-54 year olds.

Cryptocurrencies are rapidly gaining popularity amongst investors due to being advertised as ‘get rich quick’ investments. They have particularly increased in attractiveness since the pandemic, with many people feeling obliged to take on greater risks to compensate for the economic uncertainty and concerns caused by the rising cost of living.

WEALTH at work has conducted a survey with the Pensions Management Institute to investigate the concerns pension Trustees (the people responsible for ensuring that a pension scheme is run properly) have have for their scheme members in the run up to their retirement and what support provisions they have in place.

The Wealth at Work group (“the Group”) – a leading financial wellbeing and retirement specialist has acquired technology firm Death by Design Limited (“DBD Digital”), based in Alderley Edge, Cheshire.