Catching Up With Online Business

Overestimating your retirement savings
Are you relying on the state pension to maintain your standard of living?
Approximately 18 per cent of individuals who are looking to give up work during 2010 admit they will be banking on the state pension and income from investments to fund their retirement, according to insurer Prudential.
Almost a third of people who are about to retire either do not know how much they will obtain from the state pension or overvalue how much they will have.
But the up-to-date information from the Office for National Statistics demonstrate that the normal spending for a household headed by someone aged between 65 and 74 is £321 a week.
The research found that across every individual who are considering retiring this year, the state pension will make for an average of 34 % of their income. Occupational pension schemes will make up 36 per cent of the average individuals retirement income, with 11 % coming from different investments and 9 per cent contributed by personal pensions.
The government has agreed that it cannot sufficiently provide pensions at an appropriate level in the future. It is up to each person to ensure they have adequate provision for retirement.
Consilium Asset Management Limited are Financial Advisers based in Bristol, South Gloucestershire.