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Financial retirement issues vex older Britons
18 March 2008 12:00
Many people have several concerns regarding retirement, according to a new study, with a considerable proportion of them related to income and homeownership issues.
Maintaining quality of life in retirement was ranked as the greatest priority among 45-to-75 year-olds on Lincoln Financial Group's index, followed by having an enjoyable retirement and then by having sufficient income to maintain their current lifestyle.
Keeping their homes after finishing working was meanwhile ranked eighth among these Britons' needs, while linked to this was their strong desire to die at home, fourth on the overall list, as well as the requirement that they be able to stay at home if ill.
Some of these concerns are particularly troubling for particular age groups, with one in eight 55-to-75 year-olds worried about maximising and protecting their savings and one in seven over-65s apprehensive about being able to keep their homes.
Lincoln's Simon O'Connor noted that many people are heading into retirement with major anxieties over what should be an enjoyable time of life, but insisted that financial advisers and providers are developing new products designed to meet their needs.
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