Yvonne Goodwin Wealth Management exec calls for focus on retirement calculator

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Yvonne Goodwin Wealth Management exec calls for focus on retirement calculator

Thu 21st Oct 2010

People must begin saving for their retirement early, according to an expert from Yvonne Goodwin Wealth Management.

Yvonne Goodwin, managing director of the organisation, pointed out that individuals do not seem to be getting much advice about long-term saving.

She claimed that once people start working there is no one telling them how they should be utilising their cash to ensure they have money when they retire.

In her view, many young consumers get wrapped up in short-term costs such as bills and forget that they should also be thinking about their pension provision.

"A retirement in poverty doesn't appeal to anybody, especially if you can do something about it when you're young. The sooner you start putting something away the better," Ms Goodwin remarked.

Her comments follow a study by HSBC, which indicated that one-quarter of 25 to 34-year-olds have no money put aside for the future.

In terms of adults in general, the report revealed that 19 per cent have no savings.

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