Majority of Brits are stressed about retirement finances

A new survey has revealed that nearly three-quarters of Brits are feeling stressed about not having enough money to enjoy their retirement.

The Aviva survey shows that 61% of people feel stressed when thinking of their retirement, and interestingly, this figure increases to 74% for those aged between 25 and 34.

The top reasons given for respondents’ retirement stress are:

• Whether or not they will have enough money set aside at retirement to do all the things they want to do (71%).
• How long their pension pot will last (65%).
• Whether or not they are paying enough into their pension pot (59%).
• How early they need to start paying onto a pension (49%).

Alistair McQueen, Head of Savings and Retirement at Aviva, said, “It’s only natural, in a world where most people are worried about things that are beyond your control – the rising cost of living, increasing inflation, and interest rates that haven’t been seen for years – that you may also feel out of depth when it comes to things like pensions and later life preparations.

“However, with a little planning, and simple rules of thumb, you can easily feel more in control of your savings and know if you are on track for the lifestyle you want in your retirement.”

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