In the second of a series of articles about the importance of setting long-term savings goals, there is a need recognise why it is important to carry out effective retirement planning in Chelmsford.
In research carried out on behalf of Aegis Financial Planning, it was found that, when asked whether they had started
planning for retirement, just 36% of unretired over-55s had done so in quarter two of 2016. This was the lowest percentage to have arisen in practice since tracking this data began in 2014 as a mark of the lack of effective retirement planning in Chelmsford.
Moreover, although 41% of those to have been surveyed on behalf of Aegis Financial Planning had thought about it
but not taken any action, almost one in four (23%) had not even thought about it yet due to the apparent lack of need to carry out effective retirement planning in Chelmsford.
Asked to identify the most important personal choices or decisions they face to ensure a happy retirement, the most common response from unretired over-55s surveyed on behalf of Aegis Financial Planning was making the most of their retirement finances so they have enough money to fund the remainder of their life (63%). Therefore, this would seem to imply that the need for effective retirement planning in Chelmsford was essential.
Significantly, the research to have been completed on Aegis Financial Planning’s behalf recognised that having sufficient money for the rest of their life was more important than maintaining their health once they retire
(59%) and deciding whether to stay in their current home or move to a new property (31%) when it comes to retirement planning in Chelmsford.
Among those to have been surveyed on behalf of Aegis Financial Planning who had already retired in quarter two of 2016, one in four (25%) said budgeting their money has been the most difficult aspect of their retirement so far, making it their most common concern when it comes to retirement planning in Chelmsford.
Mirroring over-55s’ general concerns about making their money last in retirement, 13% of those surveyed on behalf of Aegis Financial Planning who are yet to retire feel more anxious about this as a direct result of the ‘pension freedoms’ launched in April 2015, up from 10% a year ago so as to emphasise the need for effective retirement planning in Chelmsford.
At the same time, however, it was recognised on behalf of Aegis Financial Planning that there is also uncertainty about their options as a direct result of the new pension rules: just 12% feel their retirement plans might be affected by the extra flexibility offered by the pension freedoms, yet almost a third (32%) do not know when it comes to their retirement planning in Chelmsford.
For more information for those concerned with the importance of retirement planning in Chelmsford, please contact our dedicated Essex-based staff at Andrew Douglas Wills and Legal Services now via www.andrewdouglaswills.co.uk or on:
01376 348 997
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