According to a recent suvey, today’s society of under 25’s has had a change of attitude on what they would like to do when they retire. Most of them would like to spend time with grandchildren and on long holidays. Experts are pleased at this change of approach, but warn that they must start to prepare for it now or their dreams may not be reached.
Today pensioners, over 65’s, still have money problems and a free bus pass was still a top priority for them. However, those who own their homes are benefiting from the increase in house prices over the last few years and are able to unlock some of the value, giving them a more financially secure future.
Our view
What people say and what they do are normally two different things when it comes to pensions. The reality of the amount of money you need to save to have a secure retirement is huge. Many people spend hundreds of pounds a month on holidays and running cars and good living yet spend pennies on pensions.