We recently commissioned research into how the British population is currently saving for retirement. This revealed that over half of UK savers are placing their funds in products that ‘add no significant value’ to their investment.
A further 35 per cent are currently saving nothing for retirement.
Out of 803 respondents:
- 25 per cent are currently contributing to a pension;
- 18 per cent are saving in cash in a high street savings account or cash ISA;
- Four per cent are relying on future inheritance; and
- One per cent are choosing to invest in property.
Those who are preparing for retirement by saving in cash are getting little to no return on their investment.
To find out how you can save more effectively, speak with a True Potential Wealth Management Partner today.