Yorkshire Bank: Isa saving 'savvy'
www.moneynews.co.uk > Banking > Yorkshire Bank: Isa saving 'savvy'
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Money News |
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Yorkshire Bank: Isa saving 'savvy'
Thu 15th Mar 2007
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Research carried out by Yorkshire Bank shows that, with only one in eight Britons saving enough for a comfortable retirement, over a quarter of parents are hoping that their children will be able to provide them with financial support in later life.
However, an aspiration to save is apparent among today's consumers, with 60 per cent saying they were aware they should be saving for retirement but that the costs of modern life were preventing them from doing so.
Gary Lumby, head of retail at Yorkshire Bank, advised that to get the most out of their savings, consumers should invest in a cash or stocks and shares Isa.
He described how saving with a Yorkshire Isa could help people become financially secure more quickly, as they are tax-free.
"The deadline for people to make the most of their tax-free savings allowance is fast approaching, which is why we are urging anyone who has not sorted out an Isa this year to do so quickly," he added.
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