Sixty is the most popular age to retire early.
That’s according to research carried out by Aviva.
One in four (25%) of workers surveyed said they intended to celebrate their 60th birthday by leaving the world of work behind.
The biggest reason for heading into retirement at that particular time – given by 32% of those surveyed – was to ‘enjoy a new lifestyle’, and to ‘have more freedom whilst still being fit and well enough to enjoy it’.
Twenty-six per cent of the workers surveyed hoped to retire early as a result of ‘being in a financially stable position’ – and being able to afford to quit working.
And there were 20% of those surveyed who said they were aiming for 55 as the age when they would look to finish work.
However, do you know if you can actually achieve that aim?
Do you know what it will cost to live the post-working life you want?
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.
Indeed, the Aviva survey also revealed that 47% of those people that had retired at their chosen age had seen their finances take a hit. It also showed that 24% of those people who had gone back on their retirement plan and returned to working had done so because they experienced financial problems or concerns.
A financial wellbeing programme established by an employer – and run by an independent, trustworthy financial organisation – can help employees plan in detail for their retirement, and ensure they can make the informed decisions they need to enjoy a stress-free, financially sound life after their working careers are over.
This is where we come in.
Lifetime’s supportive financial wellbeing programme helps staff fully understand their finances, take control of their lives, and make good financial decisions today, tomorrow and in the future.
Take a look: https://partners.lifetime-fm.com/