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Worrying about saving enough for retirement is more common than you may think

Determining how much you need to save for the retirement you want can be difficult enough without actually having to save the money. Your requirements and desires will change over time in the same way that your income is likely to fluctuate. You can’t be expected to know exactly what you’ll need in 5 years time, let alone 20 or 30, depending on where you are in your journey towards retirement.



As we’ve seen from the events of 2020, even the safest predictions can be subject to unexpected outcomes. It appears that this uncertainty is reflected in the minds of savers, according to Schroders 2020 Global Investor Study.


The study is an independent survey of over 23,000 investors from 32 different locations globally, and responses were collected between 30th April and 15th June 2020. The study suggests that 41% of investors across the world fear that they will not have enough savings to fund their retirement. The time at which the survey took place may be a factor itself as to why some respondents feared a savings shortfall. Whilst responses were being collected the Coronavirus pandemic was in full swing, subsequently upheaving previously held notions of job security and general stability. There were, however, specific answers within the survey which point to more definite reasons as to why people are worried about their retirement savings.


When asked if they believe that the state provided pension in their country was not enough to live off, 55% agreed. In fact, only 19% thought that it was sufficient.

This view can likely be attributed in no small part to constantly shifting pension rules, which leave many expectant retirees stumped as to what they should prepare for. In fact, 41% of investors agreed that the adapting of rules by governments led them to the conclusion of not seeing the point in trying to save specifically for their retirement.

Having a plan can be helpful. If you have any concerns about your own pension or retirement savings, you may benefit from seeking the advice of a professional. Feel free to get in touch and explore the options that are available to you.

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