Research reveals figures on Londoners’ retirement planning

A recent report surveying London-based savers has discovered that almost 50 per cent of those in the UK capital aged 75 and over wish that they had prepared better financially for their retirement.

The study also uncovered that around 45 per cent of people in London in the age range of 45 to 65 have no clear picture of how much money they will require for their retirement. A total of 29 percent of retiree respondents also commented that they had underestimated the length of their retirement.

UK savers interested in retirement planning in Chester often look to wealth managers for advice. Wealth management teams can assess a person’s current financials and future retirement goals, before helping them plot a course to where they want to be when they stop working.

Unfortunately, the report found that only 21 per cent of Londoners surveyed were currently receiving professional financial advice on retirement plans. However, a third of Londoners compared to a quarter of British people in general aged 75 and over wish that they had taken on expert guidance on the matter.

It is worth noting that compared to the rest of the country, statistics show that individuals living in Britain’s capital are more likely to show concerns regarding their retirement. Experts commenting on the study concluded that as life expectancy continues to increase, flexible and comprehensive retirement planning is becoming even more crucial to ensure retirees have adequate provisions when they are no longer working.

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