Prudential have released research figures that show that on average people expect a pension in retirement in the order of £18,053 pa. People expected to have to create savings of around £115,000 to acheive this.
The reality is that this level of savings, on current average annuity rates, is likley to deliver an income of around £10,000! People need to nearly double their savings.
Our View
The Savings Gap, the difference between what we should be saving and what we are saving is getting wider and wider.
It is all well and good taking nice holidays or buying expensive holiday homes in the sun, but they will be of little benefit if you do not plan for your future financially.
That holiday home then may become a dream of something you used to have.
Take advice from us now about your position - ask us for a free assessment.