According to a recent survey by Clerical Medical, if the UK population actually took saving for their retirement seriously, many would be able to retire early in financial comfort.
The comments from Clerical came about when the results of their survey showed that 78% of middle aged people admitted to having inadequate savings for retirement. Many had also taken up evening classes or part-time degree courses and were thinking of a change of career for their employment towards retirement, whenever it may be.
Our View
Everyone likes to plan their retirement but most people do it in their heads, rather than planning financially for it. If you were given the choice to retire at 50 rather than 65 would you? We would!
The only realistic way to achieve this is to save money, and not necessarily through pensions. Any form of saving will help you achieve a more financially secure future.
We are all living longer and for many this will mean a poorer, more strained retirement. Aren't we supposed to have fun when we retire?