3 in 5 Brits feel stressed about later life planning

25–34-year-olds feel under most pressure (74%)Almost three quarters (71%) of Brits are stressed about not having enough money to do the things they want to do when they retireTwo thirds (65%) are worried as they don’t know how long their pension will lastLearn some simple steps to keep on track and feel more in control of your savings

Whilst Stress Awareness Week is encouraging best practices for stress-management and wellbeing, Aviva’s latest research has found that when it comes to later life planning, more than three in five people (61%) feel stressed when they think about their retirement. This figure rises to almost three quarters (74%) of 25–34-year-olds.

Unsurprisingly, given the current economic climate, all age groups, with the exception of the over 55s, admit to being stressed about: 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%); and how early they need to start paying into a pension (49%).

25-34s top the anxiety charts when it comes to retirement planning.

In the majority of cases, the most anxious across all age groups are the 25–34-year-olds [see table below] with the starkest contrasts in numbers being around how early they need to start paying into a pension (70% vs 49% nat.avg), whether or not they should have more than one pension pot (70% vs 50%) or if they are paying enough into their pension savings (77% vs 59%). 

To read the full article from Aviva, CLICK HERE

Authored by Aviva