I met up with my financial advisor last week and he shared a very interesting perspective:
“We can’t rule out the state pension stopping completely”
I personally don’t think that’s going to happen BUT in a previous blog I wrote, it is clear that it is not enough to retire on, and the gap identified could widen. For example, it’s very likely that it will not grow with inflation.
How would you cope financially if the state pension was to stop or decrease?
Would you be ok perhaps, after tightening a few leaky expenses or would you find yourself in deep sh**? Perhaps you are already struggling to pay the bills!
If the latter, then I suggest you take some time out to think about your options and consider what you could do today that your future self will be thankful for.