New Year Pension Resolutions Research

New Year Pension Resolutions Research,

Royal London has commissioned research as part of the festive season to illustrate what many people who have retired have on their New Year resolutions list:

• 67% suggested they wanted to travel more
• 51% want to spend more time with family and friends
• 42% want to spend more time doing hobbies
• 30% want to leave a financial legacy for children and grandchildren

Not surprisingly

• 3% want to buy a fast car.
• 2% want to b more adventurous and do a parachute jump or a or a bungee jump

How many pensioners manage to achieve their resolutions?

Looking back on what they had done since retiring

• 26% of pensioners could not afford to do things that they wanted to do
• 36% wished they had saved to do those ‘bucket list’ items
• 21% said they should have save more simple to maintain their standard of living after finishing work
• 12% wish they have saved at least enough just to go on holiday once a year

On a positive note

• 45% of pensioners said they had travelled in the last year and 36% had a hobby or pastime

What can we conclude from this?

Around half of pensioners can do most things that they would like to and over a quarter cannot afford to do any of the things that they would like to do.

Why not? The feedback is clear, they wished they have saved more.

How can we help?

We offer a cash flow modelling and financial planning service that can help you budget and plan for retirement reality. Contact us to discuss your in retirement planning. We will help you work out where you are, what you basic targets are and then focus on achieving retirement goals to help you to a happy and active retirement.

Remembers the six PPPPPP.

• Property
• Preparation and
• Planning
• Prevents
• Poor
• Performance

And the classic

“No one plans to fail but many fail to plan”