Financial planning 'crucial' for prospective retirees

www.moneynews.co.uk > Banking > Financial planning 'crucial' for prospective retirees

Financial planning 'crucial' for prospective retirees

Wed 20th Jun 2007

Prospective retirees should be reviewing their financial situation carefully and planning which financial avenues would best suit their needs.

Prudential's comments follow a survey carried out by the group indicating that a fifth of Britons say they will have to work for the rest of their lives to make ends meet.

Just over two-fifths of Britons also believe they will be able to stop working by the age of 65, the Prudential's report suggests.

Nearly one in ten Britons also speculated that they would not be able to retire until after their 70th birthday.

Gary Shaughnessy, managing director for Prudential's retail life and pensions arm, said the figures from the survey made for "depressing" reading.

He said that the group would be establishing a "new perspective on retirement planning, which recognises and promotes the fact that non-pension savings, investments and equity in property all play a vital role in enabling people to maintain their lifestyle in retirement".

Related News : Banking
	Young people 'should be taught to save'
	Families 'should plan for their children's future
	Switching bank accounts 'not as easy as banks portray'
	Brits facing finance difficulties 'should talk to their bank'
	Brits 'should utilise Isa allowances'
	Brits advised on investment options
	Children 'should be given bank accounts at 16'
	Falling inflation 'could help Brits save'
	Money worries 'are mounting for many'
	Contactless payment 'is secure and convenient'

Related News : Prudential
	One third of workers have no pension, claims Prudential
	Falls in the stock market 'will not affect some retirement savings'
	Pensioners 'to lose millions in spending power over next 12 months'
	Prudential supports government pensions calculator move
	Prudential notes pensions calculator pattern
	State pension 'may not be enough to retire comfortably'
	Prudential warns that retirees could face a life below the poverty line
	Prudential highlights retirement calculator trend
	Prudential notes growing pensions calculator trend
	Prudential notes gender gap in pensions calculator in 2010