Saving for your future
Saving isn’t rocket science. Retirement planning is simply about working out how much you need to save now, so you could live how you want later.
We’re not talking about a massive change in your lifestyle either. Cut down on a couple of coffees a day and you’ll save £100 a month, which over 30 years would mount up to £36,000. Still need that caffeine fix?
Please note, the value of an investment can fall as well as rise and isn’t guaranteed. You could get back less than you originally invested.
How ready is the UK for retirement?
Not so much, according to our latest Retirement Readiness report(Opens new window). Right now, only 12% of the UK population are on track for the retirement they want. That means 88% of UK adults need to adjust either their savings or their expectations to achieve the retirement they’d like.
By comparison, 42% of Brits are almost on track but need to do more, 35% have made a positive start but probably need a helping hand to move forward, and 11% have their heads firmly buried in the sand. Which are you?