From MoneyWeek · · 1m
Retirement Savings Anxiety
63% of UK adults fear running out of retirement money.
In brief
63% of UK adults fear running out of retirement money. 63% of UK adults worry about running out of money in retirement due to emotional, cultural and generational factors. Originally reported by MoneyWeek.
Financial anxiety in retirement
63% of uk adults worry about running out of money in retirement.
Why retirees feel anxious
Money psychotherapist vicky reynal says anxiety is an emotional defence mechanism.
Cultural factors in spending
Many brits feel proud of being thrifty and identify self-denial as virtuous.
Generational mindset shift
Retirees from 70s and 80s tough times fear returning to high mortgage rates.
Need for permission to spend
Lucie spencer says retirees need permission to spend money in retirement.
Financial planning solutions
Evelyn partners creates cash flow models to project retirement income and spending.
Cost of financial advice
Financial advice costs between £100 to £350 per hour according to moneyhelper.
Therapy for anxiety
Therapy can help retirees face fears of dependency and ageing without material focus.
The main idea
63% of UK adults worry about running out of money in retirement due to emotional, cultural and generational factors.
