Research from 247Moneybox.com shows that Brits aren’t too worried about retirement, and many underestimate both the costs of residential care, and how much they should have in their pension pot in order to live well in retirement.
- Respondents underestimated the pension pot size required to generate £17,000 a year income by £108,000
- 46% of savers prioritise a new car and holiday over saving for a house deposit or building their pension pot
- Respondents also underestimated the cost of annual residential retirement care by 30%
- 63% of respondents were not worried about their standard of living when they retire
Find out more on 247Moneybox.com