Monday, February 16, 2015

HSBC's retirement research - worth downloading

For years, HSBC has been conducting global research on retirement related issues.

The latest report is 'The future of retirement - balancing act'.

You can download it from here. 

Other than committing the cardinal sin (in my view) of having most of the graphics based on water and older people cavorting about it is pretty good.

Of course, all research like this should come with a health warning that the company has a vested interested in you spending more of your hard earned money on funding your retirement.

Nothing much new, but a lot more data to support what we already know. Life is getting tougher and tougher for retirees.

Two-thirds (69%) of working age people are worried about running out of money in retirement, while 66% are concerned about having enough money to live on day-to-day in later life.

Retirement is not the main savings priority for 85% of working age people.

Paying off their mortgage and/or other debts (46%) is the biggest barrier preventing working age people from preparing adequately for a comfortable retirement.

And so on and so on.

The French are the most pessimistic about their ability to survive in their retirement whilst the Indians seem to have no worries.

The Australians are not that happy.

HSBC has lots of country reports that drill down into much more detail.

Definitely worth reading. Dick Stroud

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