Research from online lender 247Moneybox indicates that “living for the moment” is perhaps being taken a little too much to heart amongst UK adults. The survey, conducted recently, of 100 UK adults revealed that short-term savings goals such as holiday outranked a pension or building a house deposit.
Compounding this the survey also revealed that the respondents underestimated the cost of living in retirement with the majority not worried about their standard of living when they stop working. If perhaps, the £300k pension pot quoted as generating around £17k a year income sounds far too sensible then the infographic does show some “YOLO” (you only live once) alternatives that cost £300k – 3 private jet round the world trips anyone?
Saving money for the retirement is unfortunately not a top priority for many Britons, and here is what else takes over when it comes to spending money on: