According to a recent study, 68 per cent of UK citizens have not considered how many years’ worth of retirement they will need to find provisions for.
The research examined early retirement in modern Britain, compiling data regarding a range of factors, from where in the country Britons would like to retire and the average size of their pension pots, to whether they were prepared for the length of their retirement.
While it can be difficult to know with certainty the duration between when you cease working to the time you pass away, experts in retirement planning in Chester, London and other major cities help savers to get financially prepared for the future. From ensuring that their clients have adequate income in retirement, to making provisions for dependents and healthcare needs, wealth managers can be relied on for a comprehensive service.
As well as finding that most Britons had not thought about the number of years as a retiree they would need to fund, the study also discovered that 58 per cent of respondents expected they would retire between the ages of 65 and 69.
In terms of people interested in enjoying an early retirement, the research revealed that Britons living in big cities such as Edinburgh, Manchester and Leeds found the notion most attractive.
Statistics show that 60 per cent of the UK’s labour force retired between 65 and 69, however many others opt to retire as quickly as they can when they reach the age of 55, when they can access their personal pension.
