If you were planning to run in the Abingdon Marathon in October this year, then just to let you know that the entries are now closed.
Running and training for a Marathon is a bit like preparing financially for retirement, starting your preparation early is advisable.
Yet one in seven of those planning to retire this year have made no personal pension provision and will be either totally or heavily dependent on the State Pension, according to research by Prudential.
The reality of many people’s reliance on the State Pension is underlined by the research, which shows that nearly one in five of those planning to retire this year will have an income below £8,600 a year.
To reach a minimum socially acceptable standard of living, a retired couple need an annual income of more than £12,500.
“It’s nice to get out of the rat race, but you have to learn to get along with less cheese” – Gene Perret
Is that the sort of financial future that you have?
More than 6 million Britons aged over 50 have no pension plan in place and look set to rely solely on the state pension in retirement. Yet almost half say they couldn’t live on this income alone.
Do you really want to have to go out to work after you have passed retirement age ?
If you’re unsure where you stand on pensions or your future income, why not contact us for a friendly chat and some advice.
