Over-50s 'concerned about rising living costs'
Two-thirds of individuals in the UK over the age of 50 believe they will find it difficult to make ends meet into retirement, according to reports.
A study carried out by market research company Opinium Research for LV= states that many people approaching retirement do not think they will be financially secure due to the rising cost of living.
It polled 1,665 over-50s and found that on average people believed they would need £20,100 a year to allow for a comfortable standard of living after giving up work.
LV= chief executive Mike Rogers told the Press and Journal: "Despite the well-publicised £27 billion savings gap, it is worrying that as many as a quarter of the people we surveyed are making no provision whatsoever towards their retirement."
Such news could be of interest to those looking for an effective way to save for retirement.
In related news, figures released by Friends Provident have found that nearly a million UK women hope to find a man to support them and provide financial security.
It found that a number of females are not currently saving and instead are relying on bagging a rich boyfriend or husband.
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