Article preview: It’s hard to picture the future. Various studies have found that we tend to reward ourselves today, at the expense of our future selves. This heuristic can apply in areas including health and diet (one more doughnut surely won’t hurt?!) to our personal finances. When it comes to retirement planning, 51% of us focus on current needs and wants at the expense of providing for the future. Only 23% of people are confident they know how much they need to save.
Retirement rule of thumb from new living standards
This 893-word blog post looks at the new UK Retirement Living Standards, which could help people picture their future retirement and what that might cost. Written on 17th October 2019.
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