9 March 2020

17 of the UK’s top 20 areas for pensioners are seaside towns

easyMoney research shows that 17 of the top 20 UK locations with the highest proportion of pensioners are seaside towns

At the top of the list is Christchurch in Dorset, in which 41% of the adult population is aged 65 and over. This is significantly higher than the national average of 24%. Christchurch has seen a number of new retirement developments in recent years, which have attracted affluent older residents.

The area with the second highest proportion of pensioners is the New Forest, where pensioners represent 40% of the adult population. This is followed by North Norfolk (40%) and Clacton-on-Sea (39%).

People of retirement age choose to move to coastal areas for a number of reasons including the fresh sea air, stunning scenery, a quieter life, the odd ice cream and the local fish and chips. Moreover, seaside towns typically offer more space than cities and living costs tend to be cheaper.

Many of the UK’s coastal towns have created amenities and retirement facilities specifically to cater to the needs of incoming older residents.

In order to fund a retirement dream of living by the sea, savers could consider investing a small portion of their savings in higher-risk products as part of their investment strategy. easyMoney’s IFISA is backed by UK property and offers potential returns of up to 6% for a £20,000 investment – but remember, with investing, your capital is at risk.

easyMoney is not a cash savings account. You may not get back the full amount you put in. Your capital is at risk if you invest. Peer-to-peer investments are eligible for an Innovative Finance ISA which is not a Cash ISA. They are not protected by the Financial Services Compensation Scheme (FSCS). Money invested through easyMoney is concentrated in property and could be affected by market conditions. For the same reason, instant access cannot be guaranteed. We do not offer investment or tax advice.

easyMoney is the trading name of E-money Capital Ltd, a company incorporated in England & Wales. Registered office is 5 Fleet Place, London, England, EC4M 7RD (Company No. 04861007). E-money Capital Ltd is authorised and regulated by the Financial Conduct Authority (FCA) #231680.

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Tax, Savings & Property

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As the investment landscape continues to evolve, peer-to-peer lending (P2P lending) has emerged as a compelling alternative investment strategy, especially for clients of independent ﬁnancial advisors (IFAs) and wealth managers. While traditional investment vehicles like stocks, bonds, and mutual funds remain the go-to choices for many, P2P lending offers a way to diversify portfolios, generate attractive returns, and mitigate some of the risks inherent in market volatility.

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The amount of savers’ money stagnating in 0% interest accounts rose by £10bn over the past year.

Our research shows the total amount of money earning absolutely no interest grew from £163bn in 2018 to a staggering £173bn in 2019. That’s a ninefold increase from £18.5bn in 2009 when the near-zero rates era began.