Pensioners Dont Budget
Published / Last Updated on 30/08/2008
Pensioners Don’t Budget
Prudential warns, pensioners are failing to budget for life in retirement despite the economic slowdown. The life and pensions firm said nearly a third of people – 29 per cent were spending £8000 more in their first year of retirement than in subsequent years, only to regret their splurge as the reality of living on a pension began to bite. Its study also found that 34 per cent said they just “played it by ear” and a mere 17 per cent saw a financial adviser for advice on living on a pension.
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