Earlier this year investment company Legal & General asked 2,000 people over the age of 55 about their goals and aspirations for the future. The majority (72%) of over-55s felt that they still have goals in life that they would like to achieve.
Putting ones feet up and relaxing in retirement didn’t always seem to be high on the agenda. People seem to relish taking on new challenges and hobbies. Amongst things mentioned were, writing memoirs, dancing, holidays and even conquering mountains!
These life goals hopefully go some way to helping people stay young, feeling invigorated and maybe even challenging the perceptions of what retirement actually means.
However, when looking at things that potentially prevent people hitting their goals, it would appear funding and affordability was the biggest barrier. Only 14% of the survey’s respondents felt that they were financially comfortable and 23% stated that they were not all comfortable.
Funding your life goals can be done in a variety of ways. Savings, downsizing homes, working more and working for longer all come into play. Of course, pension planning is a good start to achieving these goals later in life. Why not start planning now and review your retirement planning to make sure you’re on track?
Contact Nathan Glaister or Ainslie Cowie at our Carlisle office on 01228 530913 or speak to Phil Jackson in our Penrith office on 01768 864466.