Saving for a happy retirement

GOLDEN: Cash needed for golden years.

SAVING for retirement is something that workers should be thinking about from an early age, but with so many other “more immediate” expenses lurking around, it’s difficult to start putting away for a retirement that may seem a long way off.

If you happen to be one of the lucky few who work for a fabulous company that helps out in the pension department, well you’re better off than the majority of us who don’t have that option.

With work and job situations being tricky at the moment, many people are just living month to month and are much more concerned about paying bills and buying household necessities, than about saving for their golden years.

According to a recent report by JP Morgan Asset Management half of Britons below pensionable age are not saving anything for their retirement, with men saving the least.

More than 50 per cent of men and 39 per cent of women admitted to saving nothing, while 47 per cent of all those surveyed said they planned to rely on the state pension in their retirement.

Despite not saving for retirement, many of those surveyed in the report are expecting to retire on a nice comfortable income. Where exactly this income is going to come from they seem to have omitted from their dreamy equation!

People should take a step back from the present and start thinking about how you can save for the long term. Every little bit counts. 

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