This may come as a surprise to many a married person, but it seems that being single is far more expensive than being ‘in a relationship’. I’ve met many long-term singleton clients who profess to love their own company and whose lives, on the face of it, seem very ordered and whose homes are often cold enough to make one assume they’re saving on the heating as well as many other things. Apparently, sharing the costs does not double them, and this applies not just to day-to-day living, but also to future living and planning for retirement (for which read, putting money into a pension); which is apparently both more affordable and a higher priority for those who are hitched. The reasons are, I would hazard, a little more complex and, yes, everyone’s different; but the message is, keep swiping right or left or whatever if you want more years of gardening.
“Pension pot needed for basic retirement RISES 60% to nearly £110,000”
We’re often asked ‘how much do I need in my pension to be able to retire?” We have, as you might expect, to give a politician’s answer: ‘Well, that all depends’.