There’s a reason that your 50th birthday is a ‘Golden Birthday’. At 50, you know what you want from life… and how to get it! We believe that’s something worth celebrating!
Contrary to some misconceptions, turning 50 today looks nothing like it did before. Today’s 50-year-olds are travelling more often for leisure than the generation before. They are picking up new hobbies at a great pace and are more focused on their health and wellbeing than ever before.
However, the financial planning, and financial advice ultimately seems to be lower on the priority list. In fact, our recent survey amongst 3000 Britons aged between 45 and 85 revealed that:
- 64% of those turning 50 in the next five years have never sought advice about their income in later life.
- More than half (54%) of people aged 45–59 don’t feel confident in their financial security for retirement.
- Over a quarter (27%) of pensioners say their retirement income is lower than they expected at 50.
- More than a third (36%) of people aged 45–49 feel financially concerned about turning 50.
The shortfall in advice could be for a number or reasons. For example, people may not know that it’s available to them, or they may think advice is too expensive. Perhaps more realistically, life happens – everyone is so busy these days, sometimes thoughts about pensions just fall by the wayside.
The Pension Commissions commitment to review auto-enrolment – particularly the minimum contribution levels – only highlighted the need for more active saving. However, too little is being said about pension engagement. Pension engagement has typically been low, and many reach retirement with a pension that hasn’t reached its full potential.
That’s what we’re going to change!
Our One Million More campaign aims to encourage one million more working people to seek advice – and reap the rewards of advice.
Analysis has found that if someone aged 50 sought advice now, they could grow their pension pot by £17,640 by the time they were 65*. If our campaign succeeds in helping one million people to seek financial advice, this could help 50-year-olds across the country achieve a potential uplift in savings of up to 17.6 billion!
Don’t delay! Take that first step and join the one million more Britons taking charge of their financial future today. Download your free copy below!