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Retirement is a subject that weighs heavy on the mind of most people throughout their lives. From property to pensions, there are countless schemes a person can put in place to prepare for getting older and eventual retirement. Most require years of frugality and hard work, for minimal end benefit. As each generation ages and progresses into the retirement stage of life, economies around the world appear to struggle under the load. This is why it is more important than ever to make sure every preparation is taken to ensure a safe and comfortable retirement at a time in life when any hard earned money can still be enjoyed.
The below table demonstrates the difference in state pension payments against the cost of living in several different countries. It is obvious that there is a massive discrepancy between state payments and the affordability of living during retirement, further demonstrating the need to plan for the future.
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Q4 2021
2022 onwards
