Lifestyle, Our Generation, Retirement Pensions & Insurance
In a recent study, commissioned by Skipton Building Society, researchers found that most people have a positive attitude towards retirement, with many seeing this as an opportunity to spend more time with family, go on holiday and live a more relaxed life. They described this time in their lives as the ‘golden years’, stress-free’ and ‘exciting’, in fact the average Brit views retirement as 65% positive and just 35% negative.
It appears that we view retirement in a more positive light the closer we become to it, with those under fifty more likely to see it as a negative. The prospect of retirement when you are in your twenties is a far off thought, and may seem boring while you are having an exciting life. But for 72% of the people taking part in the study, retirement was something to look forward to, with four in ten even admitting to being jealous of those who have already quit work.
It’s not entirely golden for everyone, as 57% of people admitted to being at least a little bit worried about their life after work, with financial worries being the biggest concern. Other worries concerning people were ill-health, not being able to use their brains, being lonely, bored and not having anything to get up for each day. Despite their money worries, less than half of Brits have some kind of plan in place as to how they are going to fund their retirement, and even more worryingly, 48% of those over fifty admitted to having no retirement fund, despite approaching the end of their working life.
For the eight out of ten people who said they would feel more positive about their retirement if they had their financial plan in place, help is now more readily available. Skipton Building Society realise that many of their customers are aged fifty-plus and find retirement and pension planning confusing, especially in light of the changes to State Pension entitlement. On July 1st they launched a unique new High Street retirement planning service – Skipton – For Life Ahead.
Teamed with Skipton Financial Services (SFS) their wholly owned financial advice subsidiary they can help you to effectively plan for the future, and take the worry out retirement, leaving you time to enjoy life to the full.
