Sunshine Today, Rain Tomorrow: Are We Underestimating The Cost Of Retirement?
Research from 247Moneybox.com, one of the longest established online payday lenders in the UK, indicates that we are grossly underestimating how much we need to save up in a pension pot to pay for retirement. Respondents underestimated the pension pot size required to generate ÂŁ17,000 a year income by ÂŁ108,000. 46% of savers prioritise a new car and holiday over saving for a house deposit or building their pension pot. Respondents also underestimated the cost of annual residential retirement care by 30%. 63% of respondents were not worried about their standard of living when they retire.
Via: https://www.247moneybox.com/