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The recent performance of UK shares may dissuade some investors from buying FTSE 100 and FTSE 250 stocks. However, British shares continue to offer long-term growth potential that could make a real impact on your retirement plans.
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Senior Couple Walking With Pet Bulldog In Countryside
As such, now could be the right time to avoid the rising gold price and purchase a range of stocks. At age 50, you are likely to have sufficient time for them to recover after the recent stock market crash.
Investing in UK shares at age 50
Investing money in UK shares at age 50 may seem like a risky move. After all, retirement is likely to be 15-20 years away. For individuals who have no retirement savings, or who are concerned about their retirement prospects, buying gold may seem to be a better idea than purchasing
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With the State Pension age continuing to rise, building a retirement savings portfolio is likely to become increasingly important for many people.
Assets such as buy-to-let property, cash, bonds and gold may seem appealing after the recent stock market crash. However, investing money in UK shares while they’re trading at cheap prices could be a better idea.
Through building a diverse portfolio of stocks, you could enjoy a robust passive income in older age that offers financial freedom.
State Pension challenges
As well as a rising State Pension age, the amount paid to retirees is relatively disappointing. At present, it amounts to around £9,110 per year. That’s around a third of the average salary in the UK. As such, it’s unlikely to provide most people with enough money to pay all necessary bills and expenditures each month.
Furthermore, there’s a real threat the rate at which pension payments rise could