Research commissioned by CIS (Co-op Insurance) has found that Britain is gripped by a fear of growing old, Gerontophobia. In simple terms, people fear the inevitable and are therefore failing to plan their finances properly.
The research revealed that 33% of people aged 18-25 say the word pension makes them think about old age and that the images formed in their minds put them off planning for the future. Live today, forget tomorrow.
Our view
As ever, education and taking advice on financial planning is key.
was established with its thousands of pages of financial information to remove the mystery and fear that surrounds finance. As your "financial therapist" you always know that we are at the end of a computer or telephone to help you if you need us.
Need help or advice? Visit the Help Zone to find out about all the different ways we can help you.
Prefer low cost guidance? Try our Ask An Adviser Service.
Earlier story on financial phobias.
Interest - a great list of phobias is covered on the website Retrac Hypnotherapy.e.g. Medomalacuphobia - the fear of losing an erection (the girls in the office reckon "floppophobia" is much better).
e.g. Cacophobia - the fear of ugliness (our version bag-jobophobia or baganailsophobia)