How does your future retirement look?
Most of us look forward to a comfortable retirement when we eventually reach out golden years, and we all want to be able to spend time travelling and seeing the world, spend quality time with loved ones, and do the things that you simply cannot do when you have work related commitments. However, many of us tend not to bother thinking about how we will fund our retirement when we are in our twenties and thirties – after all, retirement seems such a long way off at that stage. But the years soon catch up with you, and many people may find that they are suddenly thundering towards retirement age with no real plan in place to fund a comfortable retirement. Read more
Tags: ability, savings, older people, long way, pensions, Generations and Age Groups, retirement, help
Over 55s not ready for retirement
April 24, 2007 by admin
Filed under News, News-Banking
Millions of Britons aged 55 or over have not even begun to think about life after retirement.
That is according to new research by Abbey which found that around two million people in this age group have given it no thought at all.
In addition, 4.5 million people have not made plans for what they will do once they stop working.
This statistic is worrying many observers who say that many people are going to head into retirement and face a financial crisis due to their wayward banking.
The next generation is not looking much better either, with 1.8 million people between the ages of 45 and 54 not having considered retirement.
“This research shows the potential retirement time bomb that the 50 plus generation are facing,” warned Reza Attar-Zadeh, head of savings at Abbey.
According to Abbey’s study, one million people over the age of 55 feel that they will have to work through their retirement as they have little money put aside.
Added to this, 1.5 million in the same generation say that their home is their only form of financial insurance to see them through their twilight years.
