Nine out of ten people now approaching retirement risk using up all their savings before they die, suffering pension ‘burn out’ New research by Fund Manager, Fidelity highlights that 70% of individuals aged over 55 who have not yet retired have no idea how much they might withdraw from their savings, while most of the remainder are set to dip into their savings at potentially unsustainable rates.

The full impact of increased longevity has yet to be realised and how this can decimate people’s finances.

A 65 year old today has a 50:50 chance of reaching 87 and a couple retiring at age 65 face a one in six chance that one of them will live to a 100. This means that a retirement of upto 35 years will not be uncommon in the future.

Careful and early planning when it comes to people’s retirement is absolutely vital to ensure that a proper structure is in place and expectations are managed accordingly.

Retiring early with a good pension is possible but action is needed now.

If you would like to find out for free what your retirement income might be or to set goals for what you would like it to be then please contact Matthew Berry, Chartered Financial Planner of Park Row on 07968 013 895, 01204 364484 or via email on matthew.berry@parkrow.co.uk