🚨 Thinking of retiring before you’re 67? Here’s what you need to know!
Dreaming of retiring at 62? You’re not alone, but the reality might be different for many in Britain. Recent research shows the average worker expects to clock out only at 67, with rising living costs and pension uncertainties widening the gap between hopes and reality.
The so-called ‘Retirement Expectation Gap’ has expanded again this year. Many are worried that the future of the State Pension isn’t secure, and the Triple Lock’s stability is a concern for many. For those in the North East, the dream of retiring seems even more distant, with a six-year gap between desired and expected retirement ages.
Shockingly, only 15% of adults prioritise pension savings, yet small increases in contributions can make a big difference. For instance, someone earning £25k and upping their pension savings by just 2% from age 22 could see a £51k boost by 67!
Catherine Foot from the Standard Life Centre for the Future of Retirement highlights the need for change. Flexible working, retraining, and support for carers could make working into later life manageable and even enjoyable.
Are you ready for the future? Or do you feel locked into working longer than you’d like? It’s time to reconsider priorities and face retirement with confidence! 🌟💼 #RetirementReality #FuturePlanning #PensionPriorities