According to research from UK thinktank Phoenix Insights, middle-aged people in a long-term relationship in Britain find it easier to make plans for retirement than singles.
The statistics showed that 45% of respondents between the ages of 45 and 54 believe planning for their future finances is easier when in a relationship.
Figures sourced from the Office for National Statistics (ONS) showed that people who live by themselves spend an average of 92 per cent of their disposable income every month. In comparison, households with two adults spend an average of 83 per cent.
Commenting on the statistic, the UK thinktanks said that the latter of these two scenarios leaves more money free that can be put towards long-term savings. The study also revealed that 48 per cent of middle-aged people in a committed relationship regularly put money away to form part of their retirement income, as opposed to 37 per cent who are single.
The survey also highlighted that couples have the advantage of sharing costs on daily expenditure and utilities, which enables them to allocate more funds to savings and retirement plans.
Couples and single people alike often reach out to retirement planning specialists in Chester, Sheffield and other major cities when they experience concern regarding their financial future. Wealth management teams can help savers plot a course towards their retirement, with action points and strategies that help them make the most of their nest egg and tax efficient giving.
