Three-quarters of UK adults have carried out little or no planning when it comes to the money they will need in later life and retirement.
That’s according to a new report carried out by Standard Life.
Their survey took in the thoughts and opinions of 5,000 18-91-year-olds in the UK.
And 73% admitted that they had done little or no planning around the amount of money they needed to live on in retirement.
Other statistics to emerge from the report included:
- 34% said they preferred to ‘live for today’ rather than ‘plan for tomorrow’.
- 28% admitted they never review their long-term financial strategy
- 62% said they focus on the ‘early, active stages’ when it comes to thinking about retirement
- And 52% of those surveyed said they simply avoid thinking about getting older in retirement, with the possibility of being less mobile or even in poor health
Taking control of your retirement planning is by no means an easy thing to do.
In this day and age of pension freedoms, you can easily get confused by all the numerous options and avenues open to you regarding your retirement.
And planning when to retire and how to pay for it can certainly be a daunting prospect.
If you need a guiding hand, then Lifetime can help you cut through the financial fog and find the best way forward, offering you the freedom, security and confidence to make the right choices.
Our specialists are passionate about delivering the best advice and adding value to your retirement planning.
We will help you understand your financial picture – and map out the future in a clear, concise and understandable way. If there is anything worrying you about your retirement and later life we can put solutions in place.
A fulfilling retirement needs Lifetime planning.
Contact us to see if we can help.