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Health and wealth top the list of retirement fears
Health and wealth top the list of retirement fears
Hargreaves Lansdown
3 Dec 2018 United Kingdom Pensioners & Retirement
Key Details:
  • A recent Hargreaves Lansdown study explored the pressing fears and expectations of people towards retirement.
  • Fears
    • Health and wealth top the list of the biggest retirement fears. When asked to pick their top three retirement fears; not having enough money (48%), becoming ill (43%) and losing mental capacity (38%) were deemed the scariest.
    • 29% of people fear being lonely, yet this is least common among the over 55s (only 19% class this as a top three fear).
    • Around 20,000 people finishing work each year are estimated to be dreading spending more time with their other half.
  • Expectations
    • 91% of people expect to spend at least half of their time with their partner. Over half of people expect to spend three quarters of their time with their partner.
    • Those closest to retirement plan on spending the most time with their partner once finishing work.
    • Travel (46%), free time (41%) and spending time with a partner (31%) are the things we are looking forward to most.
    • There may be trouble ahead… men and women aren’t totally in agreement on how they’ll spend their time.
  • The results come from a Hargreaves Lansdown study that looked at the attitudes of a nationally representative sample of 1,516 non-retired people.
  • There may be trouble ahead
    • Couples across the country are expecting to spend significant time with each other in retirement, yet there are differences in how people plan to spend their time:
      • 27% of men chose ‘spending time with their partner’ in their top three retirement desires, compared to 36% of women.
      • 12% of men are excited by looking after the grandchildren, compared to 17% of women.
      • 15% of men can’t wait to spend time watching TV and films, compared to only 7% of women.
      • 3% of people dread the idea of spending more time with their partner once retired. Assuming 700,000 people retire each year, that’s over 20,000 people not relishing the extra time with their other half.
source: Hargreaves Lansdown Press Release
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