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 retire
• Two thirds (65%) are worried as they don’t know how long their pension will last
• Learn 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