The number of people celebrating their 100th birthday in the UK is on the rise. As life expectancy continues to increase, it is more important than ever to plan financially for a 100-year life.

According to the Office for National Statistics (ONS), there were 16,600 centenarians in 2024 – double the number in 2004 (21 October 2025). 

Among those marking the milestone this year is the renowned natural historian Sir David Attenborough. The broadcaster turned 100 on 8 May, and he continues to share his passion for nature with the world. 

Attenborough shows that entering later life doesn’t have to mean taking a step back. You could still embrace new experiences and create a life you love. 

However, planning for a 100-year life often raises important questions about how to arrange your finances to secure the life you want, including how to ensure you have “enough” and what strategies are appropriate for you.

This guide explores some of the steps you might take to plan for a 100-year life.

Download your copy here: How to plan for a 100-year life

If you have any questions about planning for your later years, please get in touch.

Please note: This guide is for general information only and does not constitute advice. The information is aimed at individuals only.

All information is correct at the time of writing (April 2026) and is subject to change in the future.

With the youngest of the baby boomers now in their early 60s, business owners in this generation could benefit from considering exit strategies if they haven’t already. 

An article in the Guardian (29 March 2026) notes that as small business owners prepare to retire, their companies could disappear. After you’ve dedicated so much time to your business, you might want to take steps to create a lasting legacy, and an effective exit strategy may help you achieve that goal.

While some entrepreneurs prepare to step back, there are eager individuals who are ready to take the reins. Deciding what’s right for you and your business may feel daunting, but going through the different options could help you feel more in control. 

Here are four different exit strategies to consider:

1. Find a buyer for your business

Selling your business to another person or company could help you obtain the funds you need to be financially secure, especially if it offers a strategic advantage to prospective buyers. 

While a sale seems straightforward, there’s often a lot of work to do beforehand. To increase the potential sale price, you might want to spend time increasing your customer base or reducing potential risks. As a result, it’s a process you might benefit from starting years before you plan to step back. 

With this option, you may be liable for Capital Gains Tax (CGT) on the gains you’ve made, but there are allowances and reliefs that could reduce the eventual bill. 

2. Pass your business to a family member

For some business owners, selling to a stranger might be difficult. Instead, the prospect of the business staying within the family may be comforting.

Whether you want your child or another family member to be your successor, a transition period is often a good idea. This could help your family member build the skills they need to take over the management of the business. 

From a tax perspective, passing your business to a family member could be useful, as it may be possible to defer a CGT bill. If you want to leave your business to a family member when you pass away, tax reliefs could reduce a potential Inheritance Tax bill. 

3. Facilitate a management buyout

In a management buyout, your existing management team could take control of the business. In some cases, this results in a lower price than if you sought an outside buyer, but it could be a more efficient option.

You might also find this a good choice if your legacy is important, and you won’t be passing the business to a family member. You already know the team, so you might worry less about the future of the business and its employees. 

Again, you may be liable for CGT if you choose this option. 

4. Use an Employee Ownership Trust

Finally, it’s possible to transfer your shares to an Employee Ownership Trust (EOT), which is then held for the benefit of employees. This would allow the business to continue and employees to remain in their current roles.

Depending on your circumstances, choosing an EOT as an exit strategy could be beneficial from a tax perspective, thanks to tax relief. However, keep in mind that you’ll usually be paid from future profits over several years, which may not align with your plans. 

You could choose to play an ongoing role in the business 

Remember, you don’t have to sever all ties with your business. You could choose to play an ongoing role in its operations.

For some, sitting on the board of directors could allow them to strike a new work-life balance that suits them while retaining some oversight. Alternatively, you might still be a shareholder in the business or even continue to work as an employee. 

Setting out your preference now could help you structure your exit strategy so that it aligns with your wishes. 

A financial plan could help you prepare for your next chapter 

Stepping away from your business is likely to represent a significant lifestyle change. Having a financial plan tailored to your new goals could help you enjoy the next chapter of your life, whether you plan to relax in retirement or are keen to start a new venture. Please get in touch to talk with us. 

Please note:

This article is for general information only and does not constitute advice. The information is aimed at individuals only.

All information is correct at the time of writing and is subject to change in the future.

Please do not act based on anything you might read in this article. All contents are based on our understanding of HMRC legislation, which is subject to change.

The Financial Conduct Authority does not regulate tax planning or estate planning. 

The 2026/27 tax year started on 6 April 2026. While you have until 5 April 2027 to use tax-efficient allowances and exemptions, making a plan now could be valuable. 

Here are four powerful reasons to consider your tax strategy for the current tax year. 

Avoid last-minute stress as the end of the tax year approaches 

Using tax year allowances and exemptions is often associated with the end of a tax year.

However, leaving decisions until the last minute could mean it’s more stressful than it needs to be, and you might make a rushed decision that isn’t right for you. In addition, delays could occur, which means you miss the 5 April 2027 deadline. 

Instead, using the start of the year to review decisions means you have plenty of time to assess what’s right for you. 

Potentially benefit from an additional year of interest or growth 

If you have a lump sum to save or invest, using allowances early in the tax year means you could potentially benefit from additional months of interest or returns. When you consider the effect of compounding, you could be better off using some of your allowances now.

One option to consider is your ISA annual subscription limit. In 2026/27, you can place up to £20,000 into ISAs. You can choose to save or invest in an ISA to suit your goals. 

Adding a lump sum to ISAs at the start of the tax year or drip-feeding contributions over the months could yield better results than waiting until April 2027, particularly when you factor in compounding.

Similarly, the pension Annual Allowance is £60,000 or 100% of your annual income, whichever is lower, in 2026/27. This is the amount you can add to your pension this tax year while retaining tax relief.

Your pension is usually invested. Depositing a sum now could mean your additional contribution has a longer period to potentially deliver returns and boost your retirement savings. 

Remember that all investments carry some risk, and it’s important to understand what level is appropriate for you. Investment returns are not guaranteed, and you could lose money. 

Create a strategy for disposing of assets

If you plan to dispose of assets, you might need to pay Capital Gains Tax (CGT) if you make a profit. 

The Annual Exempt Amount means you can make up to £3,000 in gains in 2026/27 before tax may be due. Reviewing your options now could allow you to create an effective strategy for disposing of assets.

For example, if you have several assets to dispose of, you might spread the sale of them across the current and next tax years to use the Annual Exempt Amount for both years. Alternatively, you can pass on assets to your spouse or civil partner tax-free, which may allow you to use both your allowances. 

Setting a plan early in the tax year means you have time to consider your tax position and goals, and adjust your plan if necessary. 

Plan whether to gift assets this year

Over the course of the year, you might want to gift assets to loved ones. This could support beneficiaries and also make sense from an Inheritance Tax (IHT) perspective. 

In 2026/27, the nil-rate band is £325,000. This is the amount you can pass on when you die before your estate might become liable for IHT. Fortunately, there are ways to mitigate a potential IHT bill, including passing on your assets during your lifetime.

Not all gifts are immediately outside of your estate when calculating IHT. Some gifts may be included in your estate for up to seven years, so making use of these allowances might be an important IHT strategy. 

In 2026/27, gifting allowances include:

• Up to £3,000 to one or more people, known as the “annual exemption”, which you can carry forward for one tax year
• Up to £250 per person, so long as another allowance has not been used on them
• Gifts for a wedding or civil partnership of £5,000 for your child, £2,500 for your grandchild or great-grandchild, and £1,000 for anyone else
• Regular gifts that come from your income. There is no limit on how much you can give, but you must be able to maintain your usual living costs after making the gift. 

Reviewing your plans now means you can make them part of your budget and overall plan. It could also allow you to identify effective ways to support your family and friends. 

Get in touch

Your financial circumstances and goals will affect which allowances and exemptions are appropriate for you. If you’d like to discuss how you might improve your tax efficiency in 2026/27 and work with us to create a tailored plan, please get in touch. 

Please note:

This article is for general information only and does not constitute advice. The information is aimed at individuals only.

All information is correct at the time of writing and is subject to change in the future.

Please do not act based on anything you might read in this article. All contents are based on our understanding of HMRC legislation, which is subject to change.

The value of your investments (and any income from them) can go down as well as up and you may not get back the full amount you invested. Past performance is not a reliable indicator of future performance. 

Investments should be considered over the longer term and should fit in with your overall attitude to risk and financial circumstances.

A pension is a long-term investment not normally accessible until 55 (57 from April 2028). The fund value may fluctuate and can go down, which would have an impact on the level of pension benefits available. 

The tax implications of pension withdrawals will be based on your individual circumstances. Thresholds, percentage rates, and tax legislation may change in subsequent Finance Acts.

The Financial Conduct Authority does not regulate tax planning, Inheritance Tax planning or estate planning. 

Building wealth without a financial plan may be like searching for a destination without a map. You might miss the most efficient route, take an unnecessary detour, or miss your intended target altogether. A clear plan could be essential for helping you reach your goals. 

If you’re simply accumulating wealth, your assets don’t have a clear structure. Seeing the balance in your bank account rise can be comforting, but you’re taking a passive approach. 

In contrast, with a financial plan, your assets have an intentional structure designed with your goals in mind. As a result, the decisions you make are deliberate. 

If the value of your assets is rising, you might assume you’re on the right track, but creating a financial plan is often still valuable. 

Why a tailored financial plan matters 

1. Looking beyond the value of assets could paint a clearer picture

An increase in the value of an asset can feel like you’re on the right track to reaching your financial goals, but the number is only one part of the information you need to build a full picture.

Imagine you’re reviewing your pension and whether you’re on track for retirement. Seeing that you have £300,000 in your pension might feel good. However, that figure alone doesn’t tell you what income you might receive when you retire or when you’ll be able to step back from work.

A financial plan can help you understand what your assets could mean for your lifestyle now and in the future. It could also help you identify potential gaps and provide an opportunity to close them. 

2. A financial plan may bring together multiple assets 

One of the challenges of simply focusing on wealth is that you might view each asset in isolation. Often, you’ll need to bring together multiple assets to gain a clear idea of your financial health and what your options are.

Returning to the retirement planning example, you may use your pension alongside savings and investments to create an income. In addition, whether you may have debts, such as a mortgage, in retirement will affect the income you’ll need. So, if you only consider your pension, you may be missing essential details.

3. You could identify tax allowances and exemptions 

Working with a financial planner could help you identify appropriate tax allowances and exemptions that might allow you to get more out of your finances. 

Let’s say you’ve decided to invest £250 a month to support your long-term goals. Using a Stocks and Shares ISA could mean your potential investment returns are not liable for tax. Tailored advice might help you recognise how changes to the way you manage your finances could make them more efficient. 

4. A strategy might help you measure the impact of your decisions 

If you’ve not set clear goals and planned for them, it can be difficult to assess the impact of your decisions. 

Working with a financial planner to create a cashflow model could provide a way to visualise your finances and how they might change over time. You can use this model to test different scenarios, so you might see the impact of adding money to your pension compared to overpaying your mortgage.

It’s important to note that the outcomes of a cashflow model are not guaranteed, but it can provide useful insights when you’re making decisions. 

5. A clear plan could reduce impulsive decisions 

Another benefit of understanding the effect of your decisions is that it could reduce impulsive or emotional decision-making, as you’re able to see the bigger picture. 

Get in touch to talk about your financial plan

If you’d like support in creating a long-term financial plan, we’re here to help.

Please note:

This article is for general information only and does not constitute advice. The information is aimed at individuals only.

All information is correct at the time of writing and is subject to change in the future.

The value of your investments (and any income from them) can go down as well as up and you may not get back the full amount you invested. Past performance is not a reliable indicator of future performance. 

Investments should be considered over the longer term and should fit in with your overall attitude to risk and financial circumstances.

The Financial Conduct Authority does not regulate cashflow modelling or tax planning. 

Like inflation, lifestyle inflation could affect your finances, and you might not be aware of the effects straightaway. Find out how it might impede your ability to reach your goals and some ways to manage it.

Lifestyle inflation refers to the tendency for spending to increase as your income rises. Often, this spending goes on luxuries, which may come to be perceived as essentials as you become accustomed to them.

Lifestyle inflation isn’t automatically bad. Indeed, it’s normal to make changes to your lifestyle as your finances improve. However, it’s important to look at what your additional spending is going on – is it making you happier? 

There is also often a tendency to focus on how an increase in income could boost your lifestyle now. Perhaps you’re looking forward to an extra holiday each year, attending fine-dining restaurants, or simply having a higher disposable income. 

Yet, a boost to your finances could be used to support your long-term plans. Rather than spending it now, placing the additional money into your pension or investing through a Stocks and Shares ISA might allow you to retire earlier. 

Being aware of lifestyle inflation could help you make informed decisions as your financial situation changes. 

6 useful tips for managing lifestyle inflation

1. Create a budget 

Creating a budget and regularly reviewing it could help you balance increasing your spending now and putting money aside for the future. It could mean you feel comfortable enjoying the results of your hard work, without worrying that you’ll derail long-term goals. 

2. Allocate a use for each pot of money

Splitting your income or wealth into different pots could be one simple way to effectively manage lifestyle inflation. Having an account that only holds your disposable income could allow you to indulge guilt-free when you want to treat yourself.

You might also use other pots for essential outgoings, medium-term goals, and long-term aspirations. When your finances improve, you may then decide how to split the additional income or wealth between these different pots to support your overall wellbeing. 

3. Automate your long-term savings

Unmanaged lifestyle inflation could lead you to spend more than you expect day-to-day.

One solution is to treat payments into savings or investments as an essential outgoing. You might do this by automating a payment, so it leaves your account in the same way as household bills. This could prevent you from unwittingly overspending in a way that might derail your long-term plans.

4. Avoid social comparisons

The 26th President of the United States, Theodore Roosevelt, is often attributed with the quote: “Comparison is the thief of joy.” More than a century after he’s reported to have said it, the saying still rings true.

Trying to match your lifestyle to others who appear to be living more extravagantly might mean you don’t fully enjoy what you already have. If you try to keep up, you might experience lifestyle inflation.

Remember, you often only see a snapshot of other people’s lives. Rather than comparing, try to focus on what would make you happy and the steps you could take to turn this into a reality.

5. Implement a delay before making changes 

If you’re tempted to make a large purchase or a big lifestyle change, implement a delay before you proceed. A simple break could help you filter out short-term impulses, so you can instead focus on what will really have a lasting, positive effect on your life. 

6. Use a cashflow model to understand the impact of your decisions 

Finally, working with a financial planner to create a cashflow model could help you understand the impact of your financial decisions.

For example, after a large pay increase, you might model the effect of adding 25% of the increase to your pension on your potential retirement income. You may then look at how the outcome would change if you increased it to 50%. 

By visualising how your decisions will affect long-term financial security, a cashflow model may help you strike a balance between short- and long-term lifestyle goals. 

The outcomes of a cashflow model are not guaranteed as they rely on accurate data and make certain assumptions, such as projected investment returns. However, they can be a useful tool when you want to understand how different options will affect your long-term finances. 

A regularly reviewed financial plan could help you assess how to use your wealth 

Reviewing your financial plan as your income or assets change could identify how you might use your wealth to support your wellbeing. Please contact us to find out how we might work together. 

Please note:

This article is for general information only and does not constitute advice. The information is aimed at individuals only.

All information is correct at the time of writing and is subject to change in the future.

A pension is a long-term investment not normally accessible until 55 (57 from April 2028). The fund value may fluctuate and can go down, which would have an impact on the level of pension benefits available. Past performance is not a reliable indicator of future performance. 

The tax implications of pension withdrawals will be based on your individual circumstances. Thresholds, percentage rates, and tax legislation may change in subsequent Finance Acts. 

The Financial Conduct Authority does not regulate cashflow modelling.

This guest blog was written by Chris Budd, who wrote the original Financial Wellbeing Book as well as The Four Cornerstones of Financial Wellbeing. He founded the Institute for Financial Wellbeing and has written more than 100 episodes of the Financial Wellbeing Podcast. 

Ask small business owners when they plan to sell their business, and you invariably get the same answer: in five years. 

Go back a year later, ask the question again, and the answer has typically not changed: in five years.

Five years is a time scale which is close enough to sound real, but far enough away to not have to do anything about it.

Unfortunately, this often means that when the time does come to sell the business, neither the business nor the owner themselves are ready for the sale. As a result, not only does the business not achieve the value they hoped for, but the owner very often struggles personally with the transition.

There are many business advisers out there who can help prepare a business for sale. But what about preparing yourself?

Here are a few tips on how to prepare yourself to sell your business.

How much do you need to sell the business for?

I’ve asked this question of many business owners over the years, and the answer typically has two characteristics. 

Firstly, it will be a figure such as £1 million. Now, I have a principle in life to never trust a round figure. Somebody who says their business is worth an amount like £1 million probably has not really looked into what the business is worth; they are guessing, often based on what they heard other businesses have been sold for. 

Secondly, the question doesn’t ask the value of the business; the question asks what you need to sell it for.

This is where financial planning comes in. Most people think they have an idea of what they need for life after work. However, without a financial plan, this can only be a guess. When selling a business, this can be crucial. 

If you think you need £1 million, but the business is only worth £500,000, then you might not be able to sell the business yet. If the business is worth £2 million, however, then you have options.

Key to this financial plan is understanding what life will look like after the business is sold. This is very often where things get especially difficult.

Who are you and who will you be?

I once worked with a shareholder, founder and chair of a business, Davey Consulting Ltd (name changed). He was aged in his late 60s. He had no particular role in the business, but liked to pop into meetings and offer his opinion. Privately, the employees and executives shared with me that this was a real problem, but nobody wanted to tell him. 

I asked: Why didn’t he just retire?

One answer was especially enlightening: “Because today he’s Bob Davey of Davey Consulting Limited. When he retires, he’ll just be Bob Davey.”

Business owners, and founders in particular, often feel defined by their business. They can find it extremely difficult to envisage what life might look like after the business is sold. Consequently, they do not take the first step in preparing themselves for the sale.

One objective of every business owner should be to make themselves the least important person in their business. After all, if you’re the most important person, then that business will be very hard to sell. Understanding what life looks like post-sale and finding a new role in life is a key part of this process.

What will you lose, and what will you gain? 

Someone coming to the end of their career is likely to experience three characteristics in their working life:

• They are likely to be competent. They’ve done the job for a long time; they know their stuff.
• They’re part of a team. They have interactions with others. 
• They have a purpose. They can see how their work affects others.

Once the business is sold, these three things will go with the business. That financial plan, therefore, needs to start with consideration of how these aspects of their life will be replaced.

Unable to see over the fence

This process can take many years. An owner has often spent so much time building the business, investing so much of themselves, that seeing beyond the business to a different life can be very difficult. 

Two tips, therefore, are to start early (about five years should do it!), and to get help. Preparing that financial plan should start with what life might look like post-sale, then work out how much is needed to achieve that life. 

Once this financial plan has been formed, and the owner feels ready for the sale of their business, the preparation of the business for sale can really begin.

Please note:

This article is for general information only and does not constitute advice. The information is aimed at individuals only.

All information is correct at the time of writing and is subject to change in the future.