View more on these topics

Third of people aim to retire in 50s

Over a third of people in the UK hope to retire in their 50s, according to research by the Million Dollar Round Table.

However, the association is concerned that many people may be leaving a savings plan too late to achieve their goal.

While the majority of the 1,000 people questioned in the survey said they intend to save for their retirement, the findings revealed a tendency to put off saving indefinitely.

Almost two-thirds of working respondents said they would not worry about retirement provision until nearer the time and intended to put their immediate needs before any plans for the future.

More than a third of those already retired said that, although they wished they had saved more effectively for retirement, they did not have enough money to do so while working.

The survey found that 20 per cent of respondents believed the state pension would be enough to survive on during their retirement.

The MDRT believes the introduction of stakeholder in April will be a vital stepping stone in getting more people to save for their future and to realise their goal of retiring early.

President Tony Gordon says: “Retirement may seem a long way off for most of us but we now live in an era where the onus is on us, as individuals, to plan and save for it. Putting a financial plan in place early on in life not only spreads the cost of saving but also gives valuable peace of mind.”

Recommended

Why all advisers should be IFAs

An open letter to the FSAThe decision to depolarise sales of stakeholder pensions is being taken without consideration of the consequences. The intention is to make available any stakeholder pension (SHP) via direct salesforces which may be offering their own in-house plan. A salesperson for a bank who offers the bank&#39s own SHP could also […]

Trust in deed

Many wealthy families have established some of the most valuable asset-holding trusts in existence in the world today. As well as maintaining anonymity in the conduct of financial affairs, there are a number of advantages associated with the use of a trust in the overall management of your wealth. What is a trust and how […]

Keep splits simple

The thought of integrating complex financial engineering in an Isa may turn off some advisers, particularly in the midst of a hectic Isa season when keeping it simple is likely to be the IFAs&#39 mantra. But despite the pitfalls of technical complexity, there are considerable benefits to investors by using split-capital investment trusts, ways of […]

Term of endearment

If you take five minutes to read this article, six people in the UK will die while you do so. If you take half an hour each week to read Money Marketing, 36 people will die in that time. No wonder Benjamin Franklin could say with confidence that in this world nothing can be certain […]

Guide front cover - thumbnail

Guide: how to… audit your auto-enrolment scheme compliance

As the Pensions Regulator starts to bare its teeth and the changes mentioned in the Budget and Queen’s Speech start to come into force, it is essential that you understand your scheme and the processes you need to undertake to ensure it remains compliant. Our second re-enrolment guide looks at how to audit the key areas of your auto-enrolment scheme.

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com