Apr 21 2012: As someone who has practised as a financial adviser in the UK since 1986 it's clear that the path most people are on with regard to planning for retirement is wholly inadequate. In the UK the average pension fund for a retiree in the private sector is less than £30,000! We have been seduced by those that went before that retirement at 60 or before is a realistic option. Unfortunately the war generation like my own mum have had such a good time in terms of healthcare, pension and state assistance that younger people believe they too can have this. They can't and they won't. Retirement will be an experience for those in their 70's at the earliest. Governments needs to create 'sinking' funds for future retirees and investments need to be made for retirement from birth! Those investment need to be locked up until age 65. Access is not an option and compounding can then really work it's magic!
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A reply on Conversation: A conversation with Prudential: As people are living longer, how can we plan for a retirement that could last up to 30 years or more?
A comment on Conversation: A conversation with Prudential: As people are living longer, how can we plan for a retirement that could last up to 30 years or more?