Big 5 0 Survey.
Sun Life’s Big 5 0 survey in March of over 50,000 people revealed that in the top 50 things people hoped to achieve by the time people were 50 included, interestingly, it is pensions that is one of the biggest worries.
Top things to have done by the time you are 50
There are a few that we have missed out on but we certainly won’t tell you which ones!
So What Worries the Over 50s?
It’s pension funds. So whilst you were happily jumping into pools fully clothed, skinny dipping in far off shores or dancing the night away with your 5 days passes at Boardmasters or Glastonbury, could this money have been spent elsewhere?
One of the key drivers behind this is of course when younger, you are living life, making a home, bringing up children and building your career. It is no wonder that pensions are lower priority in 20s, 30s and 40s.
The reality does hit at 50.
Many retirees also suggest that they retired too early.
They underestimated their income needs, overestimated how big their pension fund would be and how long it would last.
What to do?
Work out how much you will need.
Not just today but when you have retired.
Pension Shortfall Calculators
We have built two calculators to help you:
Pension Target Funding Calculator and Pension Shortfall Calculator