According to a survey by Lloyds TSB, the younger generation is more optimistic about retiring early than their parents. The survey revealed that a third of people under the age of 45 plan to retire before the age of 60 compared with just about one fifth of those over 45 who think they will be able to afford to retire earlier. 64% of all those surveyed said that they did not intend to work past 65 and most said they would not become bored if they did not work.
Our view:
The younger age response does not surprise us although it would be interesting to know how many of the younger generation are actually planning to do this or are just dreaming. Most people do not save or plan to retire early as home and family life takes over as you get older.
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