BlackRock’s babyboomer survey has revealed 40 per cent of those aged 55 to 74 have not started to save specifically for retirement yet despite two-thirds of respondents understanding the state pension will not be sufficient.
…“It’s important that babyboomers think very carefully about how they will sustain their income through a much longer retirement than previous generations. The challenge remains to encourage short-term savers to become long-term investors and what is really concerning is that four in 10 babyoomers haven’t yet started to save for retirement.”…
4/10 haven’t even started.
Of the 6 who have, who wants to bet most aren’t very far along?
“Meanwhile, almost one in five babyboomers will take the freedom to invest their money elsewhere, half choosing a cash savings account. What will be crucial here is to make sure they have the right roadmap ahead of them to generate the income they will need.”…
And they blame the Government for not making it appeal.
They’re old enough to retire (or within a decade) and they haven’t done diddly squat.
If you’re young like me, you’re screwed. Boomers have screwed us all over by voting in entitlements for themselves and crushing debt for us. Don’t really bother saving for retirement, it’s gonna get nationalised and confiscated too.