RETIREMENTTHE TICKING CLOCK
The pension’s time bomb may be ticking loud and clear,
but many people are still failing to take control of their
finances to ensure a comfortable retirement.
THE FUTURE ISN’T NEAR, IT’S HERE!
Our research found that a third of people (34%) say they
would have more income in retirement if they stopped
procrastinating and four in ten (41%) say they would have
fewer worries about the future. We often tell ourselves
that we’ll do a job tomorrow, and it seems that we dismiss
the impact of procrastination on our finances more at a
younger age. Whilst just one in ten (11%) 18-24 year olds
think they would have more income in retirement if they
stopped procrastinating, this figure rises to half (50%)
of those aged 55. As we move closer to retirement we
look back at our inaction and realise just how much our
procrastination has cost us.
KNOWING ME, KNOWING YOU
Our research also revealed that our relationships have
an impact on how we view procrastination and our
preparations for retirement. Two in ten single people
(17%) say they could retire more comfortably if they were
to stop procrastinating. However, couples seem to be
well aware of the cost of procrastination, with four in
ten (42%) agreeing that they would have more money in
retirement if they didn’t procrastinate. It might well be
that close company makes it easier to spot the error of
your ways – especially if reflected in your partner!
THE EXPERT’S VIEW:
As we get older, we start reminiscing and, at the
same time, focusing acutely on the future and the
years remaining. We become aware of the times we
procrastinated and begin to regret it and determine
not to procrastinate any more.
13
>55
YEAR OLD
COUPLES
50 40
%
%
THINK THEY WOULD
SAY THEY COULD
HAVE MORE INCOME
RETIRE MORE
IN RETIREMENT
COMFORTABLY IF
IF THEY STOPPED THEY WERE TO STOP
PROCRASTINATING PROCRASTINATING
11
%
17
%
18-24
YEAR OLD
SINGLETONS