The Future of Retirement Life after work? Canada Report

Size: px
Start display at page:

Download "The Future of Retirement Life after work? Canada Report"

Transcription

1 The Future of Retirement Life after work? Canada Report

2

3 Contents Foreword by HSBC Introduction Key findings Part 1 The transition to retirement Part 2 Retirement aspirations versus reality Part 3 Leaving a legacy Part 4 Income, spending and saving in retirement Part 5 Practical steps towards a better retirement 3

4 Foreword Welcome by HSBC At HSBC, our purpose is to help customers fulfil their hopes and dreams and realise their ambitions, for themselves and their families, by enabling them not only to manage their financial affairs today but also to plan for their long-term financial future. I am therefore delighted to introduce the latest report in The Future of Retirement series of independent global research studies, commissioned by HSBC. Life after work? is our ninth report and compares the real-life experience of today s retirees with the views and expectations of those still working towards retirement. With the benefit of this hindsight, the report explores key retirement issues including transitioning into retirement, ensuring an adequate post-retirement income, leaving a legacy for future generations and achieving later life aspirations. It also includes some practical steps that people can take to help secure a more comfortable retirement. In this report we can see how a new retirement landscape is slowly emerging. The desire to live a full life after work can be seen in the widely held aspirations for healthy and prosperous retirement. People also aspire to leave a positive financial legacy for their children and grandchildren, during retirement and through inheritances. Yet such goals are being put at risk by a failure to prepare adequately. Indeed, many of those in retirement regret not having saved more when they were younger, or having retired too soon, and share the impact those decisions are having on achieving their retirement aspirations. I hope that the revealing insights in this report, and the practical lessons shared by today s retirees, will encourage everyone to take the necessary steps towards a more comfortable retirement. Simon Williams Group Head of Wealth Management, HSBC 4 The Future of Retirement Life after work?

5 Introduction The Future of Retirement is a world-leading independent research study into global retirement trends, commissioned by HSBC. It provides authoritative insights into the key issues associated with ageing populations and increasing life expectancy around the world. The latest global report, Life after work?, is the ninth in the series and is based on a survey of more than 16,000 people in 15 countries conducted between July 2012 and April While previous Future of Retirement reports have largely focused on how people plan and save for a comfortable retirement, this report looks at the process of retiring itself, and compares the real-life experiences of people in retirement with the expectations of those of working age. This country report, based on the views of over 1,000 respondents, highlights the main findings about living in retirement and the implications for people saving for retirement. The first part focuses on the transition from working to retirement and the prevalence of semi-retirement. The second part explores how people s expectations of retirement compare with the reality of living in retirement, how well current retirees are prepared for their retirement, and what is the best financial advice that they have ever received. The third part takes a closer look at various forms of legacy, including loan and gift giving, the funding of others during retirement, and inheritance. The fourth part analyses what people are earning, spending and saving in retirement, and where this money comes from. The final part outlines some practical steps that people can take to improve their financial well-being in later life. Unless otherwise stated, the data is country-specific, figures are rounded to the nearest whole number and monetary values are expressed in local currency. The global report, other country reports and all previous reports are available on Since The Future of Retirement programme began in 2005, more than 125,000 people worldwide have been surveyed

6 Key findings One-in-six (17%) people who are not fully retired, expect they will never be able to afford to retire from all paid employment. Working age people expect to retire on average at 63, two years older than their parents, who on retired average at 61. Over a quarter (26%) of year olds have semi-retired, and two-fifths (41%) of year olds expect to do so. Of the retirees who have been unable to achieve all their retirement aspirations, more than half (54%) cite having less money to live on than envisaged as the reason, while a third (33%) blame health issues. Encouragingly, more than half (54%) of today s retirees say that their preparations for retirement turned out to be at least adequate. On the other hand, two-fifths (40%) did not prepare adequately: of these, two-fifths (40%) only realised this at or after entering retirement and nearly half (47%) do not think they will ever make up this shortfall. When retirees were asked about the best financial advice they have ever received, the most popular answer was Start saving at an early age (chosen by 57%), followed by Don t spend what you don t have (53%) and Start saving a small amount regularly (51%). The majority of both those fully retired (81%) and not fully retired (60%) have never received a significant financial gift or loan from parents or relatives. A quarter of the working age people who have received such a gift or loan used it to help with their education (26%), paying off debts (26%), housing costs (25%) or the purchase of a major item (26%). Inheritance expectations differ between retirees and working age people: more than half (57%) of retirees expect to leave an inheritance, whereas only two-fifths (39%) of those not fully retired expect to receive one. Entering retirement was accompanied by a fall in income for 72% of retirees. However, this drop in income was not matched by a similar drop in spending, with only 48% experiencing a fall in outgoings in retirement. State and company pensions dominate retirement income provision: amongst retirees, 45% of income comes from state pensions and 31% from company pensions/benefits. 6 The Future of Retirement Life after work?

7 36% expect to semi-retire, on average at age 61 Part 1 The transition to retirement The age at which retirement is taking place is increasing. Working age people say that they will be able to afford to retire on average at 63 whereas their main earning parent retired from all employment on average at 61. Moreover, people would be happy to work on average until age 63, suggesting that today s workers do not resent working for longer than their parents did. These average figures hide the fact that 17% expect never to be able to afford to give up all paid employment. Semi-retirement involves a reduction in working hours but a continuation of some paid employment as one approaches or reaches retirement age. Over two-fifths of those not fully retired either plan to semi-retire (36%) or are already semi-retired (6%). Moreover, whilst over a quarter (26%) of year-olds are already semi-retired, over two-fifths (41%) of younger people (25-34 year-olds) expect to move into semi-retirement before retiring fully. Figure 1: Over a quarter of 55 to 64 year olds are semi-retired, more than two-fifths of younger workers expect to semi-retire Q: Do you expect to move from working full-time into semi-retirement before you retire fully? (Base: Not fully retired) % 27% 23% 33% 30% 38% 28% 34% 15% 32% 27% Don t know No Yes I expect to move into semi-retirement 20 36% 41% 37% 34% 26% Yes I have already moved into semi-retirement 0 6% 2% 2% 4% Average year olds year olds year olds year olds 7

8 Semi-retirement is currently not the norm amongst retirees: only 22% were given the option, although of those who had the option two-thirds (67%) took it up. Of those who plan to semi-retire, many have positive reasons for doing so: nearly half (47%) are motivated by wanting to keep active physically and mentally, 41% because they like working and 35% because they feel it will ease the transition into retirement. However financial issues are also a concern, with nearly a third (32%) planning to semi-retire because they cannot afford to fully retire. Figure 2: The reasons for choosing semi-retirement are largely positive Q: Why do you expect to move or why have you already moved from working full- time into semi-retirement? (Base: Not fully retired) I would like to keep active/keep my brain alert I like working and want to continue in some capacity I would like an easy transition into retirement I cannot afford to retire full time I need to bridge a shortfall in retirement income I no longer need to work full time I am still/will be paying off my mortgage I am still/will be paying off other debts Health reasons/physical demands of my work My household expenditure is higher than I envisaged I have/will have family members to support past normal retirement age Other reason Don t know 2% 4% 7% 15% 15% 14% 12% 17% 23% 32% 35 % % 47% 17% expect never to be able to afford to fully retire 8 The Future of Retirement Life after work?

9 40% of retirees say that financially they have not prepared adequately or at all for a comfortable retirement Part 2 Retirement aspirations versus reality Retirement is the life stage when many people expect to have more free time, have no dependents to look after and achieve their later life aspirations. However, the reality of retirement does not always live up to peoples hopes: for example, extensive travel is a key retirement aspiration, but 31% say they have not achieved this aspiration. More modest aspirations such as spending more time with friends and family (achieved by 56%) and home improvements and gardening (45%) are much more likely to be realised. Figure 3: Retirees are only achieving some of their retirement aspirations Q: Many people have specific hopes and aspirations for their retirement. Which, if any, of the following have you been able to realise since retiring? Q: Which, if any, of the following hopes and aspirations have you been unable to realise since retiring? (Base: Fully retired) Spending more time with friends and family Home improvements/gardening Taking more exercise/playing more sport Frequent holidays Charity/voluntary work Extensive travel Buying a new car/other expensive item Learning a new skill/hobby Continuing to work to some extent Further education Starting a business Living abroad Writing a book Learning a foreign language None of these Don t know 3% 4% 3% 2% 1% 4% 6% 13% 13% 12% 13% 11% 11% 12% 11% 14% 15% 17% 17% 20% 23% 21% 20% % 25% 30% 31% 34% 36% 36% 45% 56% Aspiration achieved Aspiration not achieved 9

10 57% of retirees say that Start saving at an early age is the best financial advice they have ever received When asked why they have not been able to realise all their later life hopes and aspirations, retirees most often cite having less money to live on than they envisaged (54%), whilst a third (33%) blame health reasons and 22% state it is because they have less time than they thought they would. Of those who have less money than envisaged to realise their aspirations, three-quarters (74%) regret they did not save more. Over half (55%) of working age people say that financially they are not preparing adequately or at all for a comfortable retirement. In contrast, two-fifths (40%) of retirees think that they failed to prepare adequately (28%) or at all (11%) for a comfortable retirement. Amongst this group of retirees, two-fifths (40%) only realised their preparations were insufficient at or after entering retirement, and 47% do not think that they will ever be able to make up this shortfall. On a more positive note, 54% of retirees think that they are prepared at least adequately for retirement, although it is difficult to assess whether the extra healthcare costs associated with frail old age have been fully considered. Therefore, even those who believe they are prepared for a comfortable retirement should nevertheless regularly review their situation during retirement. Given that a lack of adequate preparation can be an obstacle to realising retirement aspirations, we asked retirees to look back at the best financial advice they have ever received. Start saving at an early age was the most popular piece of advice (chosen by 57%), followed by Don t spend what you don t have (53%) and Start saving a small amount regularly (51%). Figure 4: Two-fifths of retirees think they did not prepare adequately or at all for a comfortable retirement Q: Overall, financially do you think that you prepared adequately for a comfortable retirement? (Base: Fully retired) More than adequately About adequately Not adequately Not at all Don t know 11% 6% 11% 28% 43% Figure 5: Start saving at an early age is the best financial advice retirees have ever received Q: People sometimes say If only I knew then what I know now. Which, if any, of the following would you say is the best financial advice you have ever received? (Base: Fully retired) Start saving at an early age Don t spend what you don t have Start saving a small amount regularly Buy your own home as soon as you can afford to Buy only what you need Develop a financial plan for the future Save as much money as you can Obtain some professional financial advice Save up to buy something that you can t afford at the time Neither a borrower nor a lender be Invest in property Live for today rather than tomorrow Stick to low/lower risk savings Try high/higher return investments Other advice Don t know/can t recall 10 The Future of Retirement Life after work? 2% 2% 6% 12% 11% 21% 19% 31% 29% 43% 40% 37% 53% 51% % 57%

11 57% of retirees expect to leave an inheritance to their children Part 3 Leaving a legacy An important goal for many retirees is to leave a legacy to their children or other relatives, which often takes the form of a financial gift, loan or inheritance. This assistance from parents and older relatives can be very helpful to younger people in achieving important goals such as higher education or home ownership. However, receiving a significant financial gift or loan from parents is not the norm, with only 23% of the working age population having received such a gift and 15% receiving a significant loan, while just 17% of retirees have themselves benefitted from a gift and just 1% from a loan. Gifts or loans from relatives to younger people (25-34 year olds) are a little more common: 27% have received a gift, 18% a loan. Among working age people who have received a significant gift or loan, a quarter (25%) used it to help with the cost of housing (rent, deposit or mortgage repayments), whilst similar proportions used it to fund their education (26%), purchase a major item such as a car (26%), or to pay off their debts (26%). Younger people (25-34 year olds) are unsurprisingly more likely than average to receive gifts or loans to fund their education. Where gifts or loans are received, they can be of considerable value, with a total median value of $22,775 Canadian. However, despite the relative generosity of these gifts, 51% of working age recipients say it made no difference to their ability to save for retirement. Figure 6: Working age people are more likely than retirees to have received a significant financial gift or loan 81% 60% Q: Did/have your parents or other relatives ever given you a significant 100 financial gift or loan? (Base: All respondents) Fully retired Not fully retired % 17% 23% 1% 2% 4% Yes gift Yes loan No Don t know 11

12 Inheritance is another way of leaving a financial legacy to children. Surprisingly, there are more retirees expecting to leave an inheritance (57%) than there are non-retirees expecting to receive one (39%). Only a small number (10%) of non-retirees have already received an inheritance. Inheritances are often used to fund longer term financial goals such as retirement: of non-retirees expecting to receive an inheritance (or who have already received one), 62% expect it to at least partly fund their retirement, with 11% expecting it to completely fund it. The median inheritance expected by working age people is $77,213, less than half of the amount that retirees are expecting to leave ($175,541). This difference can be explained in part by the fact that inheritances are often divided between more than one beneficiary. Figure 7: More retirees expect to leave an inheritance than younger people expect to receive one Q: Do you expect to leave an inheritance to your children? (Base: Fully retired) Q: In total, how much do you expect to leave in inheritances to your children including the value of any property, cash, etc? (Base: Fully retired) Q: Do you expect to receive an inheritance? (Base: Not fully retired) Q: In total, how much have you received and/or do you expect to receive in inheritances, including the value of any property, cash, etc? (Base: Not fully retired) Fully retired people expecting to leave an inheritance Working age people expecting to receive an inheritance Proportion of people Median value Proportion of people Median value 57% $175,541 Canadian 39% $77,213 Canadian Figure 8: Funding a dependent while in retirement is rare Q: Apart from you and your partner (if applicable), who of the following are you funding or do you expect to fund to a significant extent during your retirement? (Base: Fully retired) Q: Apart from you and your partner (if applicable), who of the following do you expect to fund to a significant extent once you are fully retired? (Base: Not fully retired) No one 52% 81% My children 7% 18% My grandchildren 4% 5% My parents 1% 9% Other dependents Charitable causes Don t know 2% 1% 3% 3% 12 The Future of Retirement Life after work? 6% 21% Fully retired Not fully retired

13 Another way that people can create a financial legacy in retirement is by funding a dependent: these are most likely be children but could also be grandchildren or even elderly parents. Funding dependents in retirement is relatively rare, with over four-fifths (81%) of today s retirees not doing so. Whilst over half (52%) of working age people do not expect to be funding dependents in retirement, more than a quarter (27%) expect to do so. These average figures hide a generational trend: 25% of year olds expect to still be funding their children in retirement, compared to just 6% of year olds. 13% of retirees are significantly funding other family members 13

14 Part 4 Income, spending and saving in retirement A major consequence of retirement is that income is likely to fall considerably, compared with beforehand. Nearly three-quarters (72%) of retirees say that their income has fallen in retirement, with 19% saying that their income has fallen by more than half, which contrasts with only 9% of working age people who expect their income to fall by more than half. Perhaps surprisingly, this fall in retirement income is not always matched by a corresponding fall in outgoings: 41% of retirees say that their spending is the same or greater than before. Where expenditure does fall, it does not do so by much: only a small minority (6%) have reduced their outgoings by more than half. Figure 9: For many people, income in retirement is not only lower than before, but also lower than expected Retirement income level vs. pre-retirement 19% 3% 4% 21% Retirement income level vs. expectation 20% 3% 4% 12% Q: Thinking about your income in retirement, how does it compare with your income immediately before you retired? If you moved from full to part-time working prior to retiring, please think about your final income in full time employment. Q: To what extent is your retirement income in line with your expectations BEFORE you retired from full time employment? (Base: Fully retired) 14 The Future of Retirement Life after work? 35% Greater About the same Up to 25% lower 26-50% lower More than 50% lower Don t know 17% 18% A lot more A little more About the same A little less A lot less Don t know 44%

15 This fall in income moving from full-time work into retirement has been anticipated by many, with 44% earning about as much as they expected, and 15% actually earning more. Nevertheless, it is concerning that almost two-fifths (38%) found that they are earning less than they anticipated in retirement, and even those whose retirement income is in line with their expectations face the possibility of extra healthcare costs should they enter frail retirement. Of those earning less than expected in retirement, the most commonly cited reasons are not planning sufficiently for retirement and still having outstanding debt (35% each). A further 31% blame an unexpected event or expense. 72% saw their income fall on retiring, and 19% saw it fall by more than half Figure 10: State and company pensions provide the vast majority of retirement income 120 Q: What proportion of your retirement income is funded from each of the following sources? (Base: Fully retired) % 2% 1% 1% 7% 5% 9% 2% 2% 8% 3% 11% 6% 7% 6% 60 31% 33% 28% Other sources (inheritance, selling a business, family & friends, lottery, windfall etc) Property income and assets, e.g. renting out, equity release, downsizing, sale Investments, e.g. bonds, endowments, shares, unit trusts, mutual funds Cash savings/deposits Personal pension(s) % 41% 51% Company pension(s) State pension(s)/benefits 0 Retirees Male retirees Female retirees The research also looked at where retirement income is coming from. The largest proportion of the average retiree s income comes from state pensions and benefits (45%), with most of the rest (31%) coming from company pensions. Working age people also expect a large proportion of income to come from the state (34%), although they think only 19% of their income will come from company pensions. Pre-retirees expect a further 13% to come from personal pensions, 10% from cash savings and deposits, and 10% from other investments. Male and female retirees have somewhat different retirement income sources, with women taking half (51%) of their income from the state (compared with 41% for men), reflecting differing employment patterns in the past for these two groups. 15

16 Part 5 Practical steps towards a better retirement Here are some important insights and practical actions, based on the global research findings, which may help today s retirement savers plan a better financial future for themselves. Action 1. Don t rush into retirement There is a view among retired people that they might have been too hasty in giving up paid employment. Nearly two-thirds (64%) who entered semi-retirement wished that they had stayed in full time employment longer. This regret is largely for positive reasons, with many retired people seeing work as an important means of keeping the body and mind active. Action 2. Don t rely on one source of retirement income Current retirees have three different sources of retirement income on average, wisely choosing not to generate all of their income from one place. Spreading their sources of retirement income and associated risks means that not all their eggs are in one basket. Action 3. Plan your retirement with family in mind Rather than family ties loosening in future, the family will continue to be a major consideration in retirement planning, and may even grow in importance for the next generation. While many people (40%) aspire to travel extensively during their retirement, nearly half (49%) of current workers expect to have some financial responsibilities towards others even when they are themselves retired. This includes ongoing financial responsibilities for their adult children as well as supporting frail elderly parents. Action 4. Be realistic about your retirement outgoings Many working people assume that their income needs will fall once they enter retirement. Yet 52% of people in retirement have seen no reduction in their outgoings, and 17% have seen their outgoings increase. Although people are familiar with the concept of increasing life expectancy, the consequent increase in later life medical and nursing care costs may not be well understood as people are still not doing enough to prepare themselves for these potential costs. 16 The Future of Retirement Life after work?

17 52% saw their outgoings stay the same or increase on retiring

18 HSBC Insurance Holdings Limited 2013 All rights reserved. Excerpts from this report may be used or quoted, provided they are accompanied by the following attribution: Reproduced with permission from The Future of Retirement, published in 2013 by HSBC Insurance Holdings Limited, London. Published by HSBC Insurance Holdings Limited, London Designed and produced by Global Publishing Services and Cicero-Group HSBC Insurance Holdings Limited 8 Canada Square London E14 5HQ

The Future of Retirement Life after work? Global Report

The Future of Retirement Life after work? Global Report The Future of Retirement Life after work? Global Report Contents 4 5 6 8 12 16 22 30 35 36 38 Foreword by HSBC Introduction from the author The research Executive summary Part 1 - The transition to retirement

More information

The Future of Retirement Life after work? Global Report

The Future of Retirement Life after work? Global Report The Future of Retirement Life after work? Global Report Contents 4 5 6 8 12 16 22 30 35 36 38 Foreword by HSBC Introduction from the author The research Executive summary Part 1 - The transition to retirement

More information

The Future of Retirement A new reality. Canada Report

The Future of Retirement A new reality. Canada Report The Future of Retirement A new reality Canada Report Contents Foreword 3 4 5 6 9 12 17 Foreword by HSBC Introduction Key findings Part One: Getting the retirement you want y Retirement hopes and fears

More information

The Future of Retirement. A new reality. Singapore Report

The Future of Retirement. A new reality. Singapore Report The Future of Retirement A new reality Singapore Report Contents 3 4 5 6 Foreword by HSBC Introduction Key findings Part One: Getting the retirement you want Retirement hopes and fears How much money will

More information

The Future of Retirement Choices for later life. Global Report

The Future of Retirement Choices for later life. Global Report The Future of Retirement Choices for later life Global Report Contents 4 Foreword 6 Key findings 8 Executive summary 10 The rise of semi-retirement 16 The hopes and dreams of a new retirement generation

More information

The Future of Retirement A balancing act. Singapore Report

The Future of Retirement A balancing act. Singapore Report The Future of Retirement A balancing act Singapore Report The research The Future of Retirement is a world-leading independent research study into global retirement trends, commissioned by HSBC. The global

More information

The Future of Retirement A balancing act. Global Report

The Future of Retirement A balancing act. Global Report The Future of Retirement A balancing act Global Report Contents 4 Foreword by HSBC 6 Key findings 8 Executive summary 10 A life less comfortable 14 Making sacrifices 16 Ready or not 20 Juggling priorities

More information

The Future of Retirement

The Future of Retirement The Future of Retirement Generations and journeys Global The Future Report of Retirement Generations and journeys Foreword Approaches to finances Finances in retirement Practical steps Key findings Priorities

More information

19,000. years. Retirement. Uncovered 4,700. Average income GAP. Lifting the lid on retirement income in the UK today. Expected.

19,000. years. Retirement. Uncovered 4,700. Average income GAP. Lifting the lid on retirement income in the UK today. Expected. Average income 19,000 Expected retirement 21 years Reality 4,700 GAP Expected Retirement Income Uncovered Lifting the lid on retirement income in the UK today contents Foreword carlton hood 3 Executive

More information

BRIEF. Survey Results Summary

BRIEF. Survey Results Summary Research Insights BRIEF The Role of Real Estate In Funding Retirement Retiree and Pre-retiree Opinions The Fidelity Research Institute is designed to advance knowledge of how proven investment theory and

More information

The Future of Retirement The power of planning

The Future of Retirement The power of planning The Future of Retirement The power of planning Singapore Report Foreword It has been our constant endeavour to make research available to our customers and distributors to create awareness for the need

More information

The Future of Retirement A new reality. Global Report

The Future of Retirement A new reality. Global Report The Future of Retirement A new reality Global Report Contents 4 5 6 8 12 Foreword by HSBC Introduction by the author The research Executive summary Part 1: Aspirations for a comfortable retirement y Key

More information

SPANISH LIFETIME MORTGAGE

SPANISH LIFETIME MORTGAGE SPANISH LIFETIME MORTGAGE The following presentation relates to a Lifetime Mortgage which is available to European owners of Spanish Residential properties who are fluent in English. Golden Age Distribution

More information

EQUITY RELEASE GUIDE. Everything you need to know about equity release.

EQUITY RELEASE GUIDE. Everything you need to know about equity release. EQUITY RELEASE GUIDE Everything you need to know about equity release. An informative guide from the equity release specialists The informative guide to equity release... Equity release has come a long

More information

CONTENTS ABOUT AIA STUDY BACKGROUND EXECUTIVE SUMMARY. KEY FINDINGS Quality of life Financial security Retirement Family and education

CONTENTS ABOUT AIA STUDY BACKGROUND EXECUTIVE SUMMARY. KEY FINDINGS Quality of life Financial security Retirement Family and education Report Philippines 2014 CONTENTS ABOUT AIA STUDY BACKGROUND EXECUTIVE SUMMARY KEY FINDINGS Quality of life Financial security Retirement Family and education 4 6 8 10 12 16 18 20 REPORT PHILIPPINES 3

More information

Ready. Set. Retire. Exploring the path to and through retirement. A Retirement Experience study from the Voya Retirement Research Institute.

Ready. Set. Retire. Exploring the path to and through retirement. A Retirement Experience study from the Voya Retirement Research Institute. Ready. Set. Retire. Exploring the path to and through retirement. A Retirement Experience study from the Voya Retirement Research Institute. Ready. Set. Retire. This study is a fresh look at the experience

More information

A Guide to Equity Release in Retirement

A Guide to Equity Release in Retirement A Guide to Equity Release in Retirement 1. Introduction For the retirement you deserve 2. What is Equity Release? 3. Equity Release Plans The options available to you 4. The Application Process 5. Questions

More information

Contents. Introduction... 1. Key Findings... 1. 1. India s Changing Retirement Landscape... 2. 2. Retirement Expectations and Aspirations...

Contents. Introduction... 1. Key Findings... 1. 1. India s Changing Retirement Landscape... 2. 2. Retirement Expectations and Aspirations... Contents Introduction... 1 Key Findings... 1 1. India s Changing Retirement Landscape... 2 2. Retirement Expectations and Aspirations... 4 3. Retirement Saving and Planning... 7 4. The Retirement Savings

More information

Post Budget At Retirement Market - A Report

Post Budget At Retirement Market - A Report Post Budget At Retirement Market - Qualitative Consumer Research Commissioned by syndicate members: This report is for media use only and may not be reproduced or circulated in its entirety. Any quotes

More information

Online Survey of Employees Without Workplace Retirement Plans

Online Survey of Employees Without Workplace Retirement Plans Online Survey of Employees Without Workplace Retirement Plans Report of Findings Conducted for: State of California October 2015 Prepared by Greenwald & Associates 2015 1 Table of Contents Methodology

More information

Can Equity Release Mechanisms fund long term care costs? Desmond Le Grys

Can Equity Release Mechanisms fund long term care costs? Desmond Le Grys 2001 Health Care Conference Can Equity Release Mechanisms fund long term care costs? Desmond Le Grys 1 Introduction 1.1 Scope This paper attempts to explain why equity release products have rarely been

More information

Everything you need to know about equity release.

Everything you need to know about equity release. Everything you need to know about equity release. An informative guide from the equity release specialists Welcome to the Retiredom guide to equity release. Equity release has come a long way since regulation

More information

Your retirement could have even more going for it

Your retirement could have even more going for it Your retirement could have even more going for it A straightforward guide to equity release For no obligation advice: call 0800 015 0993 www.justretirementsolutions.com Contents Imagine what you could

More information

Men retiring early: How How are they doing? Dave Gower

Men retiring early: How How are they doing? Dave Gower Men retiring early: How retiring are they doing? early: How are they doing? Dave Gower During the first half of this century, men generally stayed in the labour force until at least age 65. In the second

More information

Sun Life Canadian UnretirementTM

Sun Life Canadian UnretirementTM Sun Life Canadian UnretirementTM Index 2013 Canadian Unretirement Index Report Life s brighter under the sun Table of contents Five years of the Canadian Unretirement Index 2 Section 1: A late retirement

More information

Life insurance. Shedding light on. a practical guide to helping you achieve a lifetime of financial security

Life insurance. Shedding light on. a practical guide to helping you achieve a lifetime of financial security Shedding light on Life insurance a practical guide to helping you achieve a lifetime of financial security Learn more about: Safeguarding your loved ones Protecting your future Ensuring your dreams live

More information

THE RESPONSIBLE EQUITY RELEASE GUIDE. Everything you need to know about equity release.

THE RESPONSIBLE EQUITY RELEASE GUIDE. Everything you need to know about equity release. THE RESPONSIBLE EQUITY RELEASE GUIDE Everything you need to know about. An informative guide from the specialists Welcome to the Responsible guide to. Equity release has come a long way since regulation

More information

Changing the shape of British retirement. www.homewise.co.uk

Changing the shape of British retirement. www.homewise.co.uk Changing the shape of British retirement Free Phone 0800 043 33 66 About us Welcome to Homewise Like many people, you may have spent years looking forward to a dream retirement lifestyle, perhaps wanting

More information

Introduction 1 Key Findings 1 Recommendations 1 The Survey 2. 1. Retirement landscape in Canada 3. 2. Retirement aspirations and expectations 3

Introduction 1 Key Findings 1 Recommendations 1 The Survey 2. 1. Retirement landscape in Canada 3. 2. Retirement aspirations and expectations 3 Contents Introduction 1 Key Findings 1 Recommendations 1 The Survey 2 1. Retirement landscape in Canada 3 2. Retirement aspirations and expectations 3 3. Planning for retirement 5 4. Making it easy to

More information

Equity Release Guide. www.seniorissues.co.uk

Equity Release Guide. www.seniorissues.co.uk Equity Release Guide www.seniorissues.co.uk For more information or to speak to one of our trained advisers please telephone our Senior Issues Team on 0845 855 4411 The Caesar & Howie Group 7/3/2008 EQUITY

More information

1 Tools for Financial Planning

1 Tools for Financial Planning PART 1 Tools for Financial Planning Chapter 2 Planning with Personal Financial Statements How to increase net cash flows in the near future How to increase net cash flows in the distant future Chapter

More information

Boomer Expectations for Retirement 2015. Fifth Annual Update on the Retirement Preparedness of the Boomer Generation

Boomer Expectations for Retirement 2015. Fifth Annual Update on the Retirement Preparedness of the Boomer Generation Boomer Expectations for Retirement 2015 Fifth Annual Update on the Retirement Preparedness of the Boomer Generation April 2015 About the Insured Retirement Institute: The Insured Retirement Institute (IRI)

More information

Your Guide to Equity Release

Your Guide to Equity Release Equity release has enabled me to go on more holidays, purchase a new car and make some major household purchases. The service provided met our financial needs in an efficient and helpful way. John, Sutton

More information

LEGAL & GENERAL HOME FINANCE. Guide to Lifetime Mortgages

LEGAL & GENERAL HOME FINANCE. Guide to Lifetime Mortgages LEGAL & GENERAL HOME FINANCE Guide to Lifetime Mortgages A lifetime mortgage could give you the freedom to really enjoy your retirement. We re delighted you re finding out more about lifetime mortgages.

More information

Introduction 1 Key Findings 1 The Survey 1. 1. Retirement landscape 2

Introduction 1 Key Findings 1 The Survey 1. 1. Retirement landscape 2 Contents Introduction 1 Key Findings 1 The Survey 1 1. Retirement landscape 2 2. Aspirations and expectations for a changing retirement 2 Canada is ranked third in the AEGON Retirement Readiness Index

More information

Consumer Services. The Help to Buy Hopefuls

Consumer Services. The Help to Buy Hopefuls Consumer Services The Help to Buy Hopefuls Experian Insight Report January 2014 1 Introduction 2014 is a year when the Government s home-buying initiative, Help to Buy, will be on the minds of many would-be

More information

Saga Equity Release Advice Guide

Saga Equity Release Advice Guide Your guide to Equity Release Expert advice with no obligation Your introduction to equity release Your retirement should give you the freedom to do all the things in life you haven t had time for. However,

More information

Freedom. Contentment 85% Retirement 20/20. Slowing down gradually. Volunteering Disappointment. Security. Financial stress. Excitement.

Freedom. Contentment 85% Retirement 20/20. Slowing down gradually. Volunteering Disappointment. Security. Financial stress. Excitement. REPORT 2015 Retirement 20/20 Achieving retirement fulfillment years CELEBRATING FamilyProsperity Excitement Freedom Having to work Security Fulfilling work Slowing down gradually Boredom Financial stress

More information

Average income 6,300. Expected. Reality GAP REDEFINING RETIREMENT HOW THE UK IS ADAPTING TO THE NEW WORLD OF RETIREMENT

Average income 6,300. Expected. Reality GAP REDEFINING RETIREMENT HOW THE UK IS ADAPTING TO THE NEW WORLD OF RETIREMENT Average income 19,700 Reality 6,300 GAP Expected REDEFINING RETIREMENT HOW THE UK IS ADAPTING TO THE NEW WORLD OF RETIREMENT CONTENTS FOREWORD CARLTON HOOD 3 EXECUTIVE SUMMARY 4 SECTION 1 THE RETIREMENT

More information

Equity Release Guide. Helping you make the right decision. nationwide service all lenders available personal visits. www.therightequityrelease.co.

Equity Release Guide. Helping you make the right decision. nationwide service all lenders available personal visits. www.therightequityrelease.co. Equity Release Guide 0800 612 5749 www.therightequityrelease.co.uk Helping you make the right decision nationwide service all lenders available personal visits 1 Welcome to The Right Equity Release Who

More information

The 2015 Self-Assessment Guide For Long Term Care Insurance

The 2015 Self-Assessment Guide For Long Term Care Insurance The 2015 Self-Assessment Guide For Long Term Care Insurance A JOINT PUBLICATION BY: SHIP State Health Insurance Assistance Program And Indiana Partnership Long Term Care Insurance Program Both of the Indiana

More information

Saving and Investing Among Higher Income African-American and White Americans

Saving and Investing Among Higher Income African-American and White Americans The Ariel Investments 2010 Black Investor Survey: Saving and Investing Among Higher Income African-American and Americans July 21, 2010 1 For further information, contact Merrillyn J. Kosier at Ariel Investments

More information

Retirement planning. Facilitator s guide. brought to you by the commission for financial capability

Retirement planning. Facilitator s guide. brought to you by the commission for financial capability Retirement planning Facilitator s guide brought to you by the commission for financial capability Welcome to the Facilitator s guide Thinking about retirement is the first step you need to take to achieve

More information

Making the most of your retirement

Making the most of your retirement Making the most of your retirement A guide to equity release and our advice service Provided by Contents Welcome from the Age UK Group 3 Do more with your retirement 4 What is equity release? 5 Is equity

More information

LEGAL & GENERAL HOME FINANCE. Guide to Lifetime Mortgages

LEGAL & GENERAL HOME FINANCE. Guide to Lifetime Mortgages LEGAL & GENERAL HOME FINANCE Guide to Lifetime Mortgages A lifetime mortgage could give you the freedom to really enjoy your retirement. We re delighted you re finding out more about lifetime mortgages.

More information

CAVENDISH EQUITY RELEASE. The Essential Guide. Equity Release TRUSTED & IMPARTIAL ADVICE SINCE 1985

CAVENDISH EQUITY RELEASE. The Essential Guide. Equity Release TRUSTED & IMPARTIAL ADVICE SINCE 1985 CAVENDISH Equity Release TRUSTED & IMPARTIAL ADVICE SINCE 1985 EQUITY RELEASE The Essential Guide INDEX Welcome to Cavendish Equity Release 3 How can Equity Release be used? 4 Why is specialist advice

More information

CompareEquityRelease.com. Your Guide To Equity Release

CompareEquityRelease.com. Your Guide To Equity Release CompareEquityRelease.com Your Guide To Equity Release C ontents About this guide 3 Let s talk money 4 The options 5 What is equity release? 13 How does equity release work? 14 Which type of scheme is best?

More information

Family Net Worth in New Zealand

Family Net Worth in New Zealand Reproduction of material Material in this report may be reproduced and published, provided that it does not purport to be published under government authority and that acknowledgement is made of this source.

More information

Guide to Equity Release

Guide to Equity Release Guide to Equity Release Find out how you could unlock cash from your home in association with One of the Yours guides designed to The Guide to Equity Release in association with 1 help you make the most

More information

Retirement. Providing solutions for your future

Retirement. Providing solutions for your future Retirement Providing solutions for your future ,,,, We firmly believe that retirement is a time to enjoy the rewards of your lifes hard work and having access to the funds to turn your ideas and dreams

More information

Personal Affordability and Lung Size - It's a Cash Flap For the Elderly

Personal Affordability and Lung Size - It's a Cash Flap For the Elderly PROTECTION REPORT BEFORE AND AFTER THE MORTGAGE MARKET REVIEW JUNE 2015 HOMEOWNERS A R E FAR MORE AWARE OF THE WAYS THEY SPEND THEIR MONEY IS THIS GREATER AWARENESS CHANGING ATTITUDES TOWARDS OUR FINANCIAL

More information

A simple guide to getting more from your future with. Aviva Equity Release. Best Equity Release Lender

A simple guide to getting more from your future with. Aviva Equity Release. Best Equity Release Lender A simple guide to getting more from your future with Aviva Equity Release Best Equity Release Lender J4602_PF011120_1015.indd 1 09/10/15 8:06 pm Contents An introduction to Aviva Equity Release What is

More information

Age, Demographics and Employment

Age, Demographics and Employment Key Facts Age, Demographics and Employment This document summarises key facts about demographic change, age, employment, training, retirement, pensions and savings. 1 Demographic change The population

More information

WHAT IS EQUITY RELEASE? WHY CONSIDER EQUITY RELEASE?

WHAT IS EQUITY RELEASE? WHY CONSIDER EQUITY RELEASE? WHAT IS EQUITY RELEASE? Equity Release can free some of the capital tied up in your home, while you continue to live there. This money can be in the form of a tax-free lump sum, a regular income or a combination

More information

UBS Investor Watch. What is wealthy? Top insights: Analyzing investor sentiment and behavior 3Q 2013

UBS Investor Watch. What is wealthy? Top insights: Analyzing investor sentiment and behavior 3Q 2013 UBS Investor Watch Analyzing investor sentiment and behavior 3Q 2013 What is wealthy? Top insights: 1. Wealth equals no financial constraints on activities 2. Cash is still king 3. Investors control risk

More information

M&G Guide to Retirement Income

M&G Guide to Retirement Income M&G Guide to Retirement Income 2 Working out how to make adequate financial provision for retirement is one of the most important financial decisions most of us will ever face. However, it can be a daunting

More information

SOA 2010 Annual Meeting & Exhibit Oct. 17-20, 2010. Session 119 PD, Impact of Housing on Economic Security in Retirement

SOA 2010 Annual Meeting & Exhibit Oct. 17-20, 2010. Session 119 PD, Impact of Housing on Economic Security in Retirement SOA 2010 Annual Meeting & Exhibit Oct. 17-20, 2010 Session 119 PD, Impact of Housing on Economic Security in Retirement Moderator: Anna M. Rappaport, FSA, EA, MAAA Presenters: Thomas N. Herzog, ASA Anna

More information

Saving, borrowing and payment methods in Finland

Saving, borrowing and payment methods in Finland 0 Federation of Finnish Financial Services Contents. INTRODUCTION. Purpose of the survey. The survey in practice. SPENDING PLANS AND CURRENT FINANCIAL SITUATION. SPENDING PLANS AND TARGETS, FUNDING OF

More information

Your Guide to Equity Release

Your Guide to Equity Release Equity release has provided me with financial stability. I now have the opportunity to help my family, go on holiday, and make some home improvements. Mr W, East Sussex Your Guide to Equity Release Contents

More information

2/3 81% 67% Millennials and money. Key insights. Millennials are optimistic despite a challenging start to adulthood

2/3 81% 67% Millennials and money. Key insights. Millennials are optimistic despite a challenging start to adulthood 2/3 Proportion of Millennials who believe they will achieve a greater standard of living than their parents 81% Percentage of Millennials who believe they need to pay off their debts before they can begin

More information

How To Be Financially Successful

How To Be Financially Successful Employee Financial Wellness Survey 2015 results April 2015 Retirement Employer benefits Financial stress Investing Cash and debt management Risk management About this survey PwC s Employee Financial Wellness

More information

Financial literacy. Australians understanding money

Financial literacy. Australians understanding money Financial literacy Australians understanding money Financial literacy Australians understanding money Commonwealth of Australia 2007 ISBN: 0 642 74410 6 This work is copyright. Apart from any use as permitted

More information

14 th Annual National Report Card on Health Care. Embargoed until August 18, 2014 at 12:01 am EDT

14 th Annual National Report Card on Health Care. Embargoed until August 18, 2014 at 12:01 am EDT 14 th Annual National Report Card on Health Care Embargoed until August 18, 2014 at 12:01 am EDT National Report on Heath Care: Seniors Health Issues and the Impact of an Ageing Population August 2014

More information

Life insurance. Shedding light on A PRACTICAL GUIDE TO HELPING YOU ACHIEVE A LIFETIME OF FINANCIAL SECURITY. Life s brighter under the sun

Life insurance. Shedding light on A PRACTICAL GUIDE TO HELPING YOU ACHIEVE A LIFETIME OF FINANCIAL SECURITY. Life s brighter under the sun Shedding light on Life insurance A PRACTICAL GUIDE TO HELPING YOU ACHIEVE A LIFETIME OF FINANCIAL SECURITY LEARN MORE ABOUT: Safeguarding your loved ones Protecting your future Ensuring your dreams live

More information

For a free consultation call freephone. or visit www.responsible.org.uk

For a free consultation call freephone. or visit www.responsible.org.uk Responsible Guide To Equity Release How to release equity (and release it intelligently) Around 2m people over the age of 50 will rely on their property, not a pension, to pay for their retirement - Beck

More information

The self-employed and pensions

The self-employed and pensions BRIEFING The self-employed and pensions Conor D Arcy May 2015 resolutionfoundation.org info@resolutionfoundation.org +44 (0)203 372 2960 The self-employed and pensions 2 The UK s self-employed populace

More information

Main Report: The Burden of Property Debt in Great Britain, 2006/08 & 2008/10

Main Report: The Burden of Property Debt in Great Britain, 2006/08 & 2008/10 Main Report: The Burden of Property Debt in Great Britain, 2006/08 & 2008/10 Coverage: England and Wales Date: 13 May 2013 Geographical Area: Region Theme: Economy Key Points This release focuses on the

More information

A brief guide to Financial Planning Guide financial planning

A brief guide to Financial Planning Guide financial planning A brief guide to Financial Planningplanning Guide financial Table of Contents Financial Planning The Process of Financial Planning Why do I need a Financial Plan? Do I need a Financial Advisor? Tips to

More information

WOMEN S PERSPECTIVES ON SAVING, INVESTING, AND RETIREMENT PLANNING

WOMEN S PERSPECTIVES ON SAVING, INVESTING, AND RETIREMENT PLANNING WOMEN S PERSPECTIVES ON SAVING, INVESTING, AND RETIREMENT PLANNING 1 WOMEN S PERSPECTIVES ON SAVING, INVESTING, AND RETIREMENT PLANNING November 2015 Insured Retirement Institute 2 WOMEN S PERSPECTIVES

More information

China s Middle Market for Life Insurance

China s Middle Market for Life Insurance China s Middle Market for Life Insurance May 2014 Sponsored by: SOA International Section SOA Marketing & Distribution Section SOA Research Expanding Boundaries Pool The opinions expressed and conclusions

More information

Equity Release - A Good Option for the UK

Equity Release - A Good Option for the UK Guide to Equity Release in association with One of the Yours guides designed to The Guide to Equity Release in association with 1 help you make the most of your life Contents Why equity release? 4 Getting

More information

Contents. Introduction 1 Key Findings 1. 1. Canada s Changing Retirement Landscape 2. 2. Retirement Expectations and Aspirations 4

Contents. Introduction 1 Key Findings 1. 1. Canada s Changing Retirement Landscape 2. 2. Retirement Expectations and Aspirations 4 Contents Introduction 1 Key Findings 1 1. Canada s Changing Retirement Landscape 2 2. Retirement Expectations and Aspirations 4 3. Retirement Saving and Planning 7 4. The Retirement Savings Habit 9 Recommendations

More information

FREE GUIDE TO EQUITY RELEASE

FREE GUIDE TO EQUITY RELEASE FREE GUIDE TO EQUITY RELEASE Fresh thinking About this guide This guide is designed to be impartial and to help families and their older relatives explore the many different ways of funding a more comfortable

More information

2014 MILLENNIALS RESEARCH STUDY

2014 MILLENNIALS RESEARCH STUDY 2014 MILLENNIALS RESEARCH STUDY In response to interest about the financial needs and challenges of younger employees, Voya Financial conducted an online survey among roughly 2000 young adults aged 20-34

More information

401(k) Plan Participants:

401(k) Plan Participants: ICI Research Series 40(k) Plan Participants: Characteristics, Contributions, and Account Activity INVESTMENT COMPANY INSTITUTE INVESTMENT COMPANY INSTITUTE Spring 2000 40(k) Plan Participants: Characteristics,

More information

EXECUTIVE SUMMARY FINANCIAL LIFE STAGES OF OLDER CANADIANS ONTARIO SECURITIES COMMISSION

EXECUTIVE SUMMARY FINANCIAL LIFE STAGES OF OLDER CANADIANS ONTARIO SECURITIES COMMISSION EXECUTIVE SUMMARY FINANCIAL LIFE STAGES OF OLDER CANADIANS ONTARIO SECURITIES COMMISSION EXECUTIVE SUMMARY This research identifies the top financial concerns of older Canadians and places them in the

More information

Customer Guide. to lifetime mortgages. more 2 choose a range of lifetime mortgage plans to suit every need

Customer Guide. to lifetime mortgages. more 2 choose a range of lifetime mortgage plans to suit every need Customer Guide to lifetime mortgages more 2 choose a range of lifetime mortgage plans to suit every need From one of the UK s largest retirement lending specialists Please speak to your adviser for further

More information

Financial Planning in Your 20s and 30s

Financial Planning in Your 20s and 30s Financial Planning in Your 20s and 30s Financial planning varies throughout the different stages of life. Older people are often focused on planning for a comfortable retirement, while younger people often

More information

Hopes, fears, and reality

Hopes, fears, and reality A Research Study Hopes, fears, and reality What workers expect in retirement and what steps help them achieve the retirement they want Retirement Strategies Background and methodology Overview This report

More information

Home Equity as a Source of Retirement Income February 2013

Home Equity as a Source of Retirement Income February 2013 Home Equity as a Source of Retirement Income February 2013 Written by Edwin L. Weinstein, PhD The Brondesbury Group, Toronto, ON 2013 The Brondesbury Group Home Equity as a Source of Retirement Income

More information

responsible equity release Responsible for your comfortable retirement The Latest On Equity Release In Just 800 Words

responsible equity release Responsible for your comfortable retirement The Latest On Equity Release In Just 800 Words The Latest On Equity Release In Just 800 Words Releasing equity with a lifetime mortgage Designed for those aged 55+, who own their property, are asset-rich and want to access to this wealth in a flexible

More information

MORTGAGE FACTSHEET -1-

MORTGAGE FACTSHEET -1- MORTGAGE FACTSHEET Choosing and obtaining a mortgage is not a simple task these days - whether you are a first time buyer, moving home, or remortgaging as you reach the end of your current incentive. This

More information

Fannie Mae National Housing Survey. What Younger Renters Want and the Financial Constraints They See

Fannie Mae National Housing Survey. What Younger Renters Want and the Financial Constraints They See Fannie Mae National Housing Survey What Younger Renters Want and the Financial Constraints They See Copyright 2014 by Fannie Mae May 2014 Table of Contents Research Methodology... 4 Executive Summary.....

More information

Is equity release the right choice for you? Protecting yourself If it isn t right for you, what are the alternatives?

Is equity release the right choice for you? Protecting yourself If it isn t right for you, what are the alternatives? Buyer s Guide : Content Page 1: What is equity release? Page 2: Is equity release the right choice for you? Page 3: Protecting yourself If it isn t right for you, what are the alternatives? Page 4: Lifetime

More information

MMI Omnibus Survey. Homeownership. Top-Line Results and Suggested Story Lines

MMI Omnibus Survey. Homeownership. Top-Line Results and Suggested Story Lines MMI Omnibus Survey Homeownership Top-Line Results and Suggested Story Lines Methodology: Cynapsus and Money Management International (MMI) developed a series of questions on the topic of homeownership,

More information

7 Reasons Why Property

7 Reasons Why Property 7 Reasons Why Property Investment can t be ignored. Know your options before it s too late. What is in this report? This report is a must read for anyone looking to improve their lifestyle and enjoy greater

More information

Confidential Estate Planning Questionnaire

Confidential Estate Planning Questionnaire Confidential Estate Planning Questionnaire Single Person This questionnaire is designed to help me evaluate your unique situation and create an estate plan that addresses your specific needs. Effective

More information

Investment-linked Insurance plans (ILPs)

Investment-linked Insurance plans (ILPs) Produced by > your guide to Investment-linked Insurance plans (ILPs) An initiative of This Guide is an initiative of the MoneySENSE national financial education programme. The MoneySENSE programme brings

More information

Pension freedom. Picking out the business winners and losers. 1,200 consumers surveyed. 12bn

Pension freedom. Picking out the business winners and losers. 1,200 consumers surveyed. 12bn April 2015: How your business can capitalise on a market that s been thrown open. Pension freedom Picking out the business winners and losers Introduction: Making sense of a new world of choice The new

More information

Protecting Your Loved Ones Every Step of the Way

Protecting Your Loved Ones Every Step of the Way Protecting Your Loved Ones Every Step of the Way Gerber Life Insurance Company Gerber Life Insurance Company, White Plains, NY 10605 5/10/2011 Gerber Life Insurance Company is a financially separate affiliate

More information

2015 Wells Fargo Retirement Study

2015 Wells Fargo Retirement Study 2015 Wells Fargo Retirement Study Table of contents Overview 1 Key findings 2 Background and methodology 8 Harris Poll conducted the survey online of 1,993 affluent investors, ages 30 75 who have $250,000

More information

Home Ownership and Superannuation White Paper

Home Ownership and Superannuation White Paper Home Ownership and Superannuation White Paper This paper contains general advice about our superannuation products and has been prepared without taking account of your objectives, financial situation or

More information

The Ariel/Schwab Black Investor Survey:

The Ariel/Schwab Black Investor Survey: The Ariel/Schwab Black Investor Survey: Saving and Investing Among Higher Income and Americans Ariel Investments, LLC and The Charles Schwab Corporation are non-affiliated entities, but co-sponsor the

More information

Guide to Equity Release

Guide to Equity Release Guide to Equity Release By Mel Wright Telegraph money Command= The right of Mel Wright to be identified as the author of this work has been asserted by her in accordance with the Copyright, Designs and

More information

Profile of Households Saving for College

Profile of Households Saving for College Investment Company Institute Research Series Profile of Households Saving for College INVESTMENT COMPANY INSTITUTE Investment Company Institute Research Series Profile of Households Saving for College

More information

largeequityrelease.com EQUITY RELEASE GUIDE Speak to one of our specialists today on 020 3824 0904

largeequityrelease.com EQUITY RELEASE GUIDE Speak to one of our specialists today on 020 3824 0904 largeequityrelease.com EQUITY RELEASE GUIDE Speak to one of our specialists today on 020 3824 0904 CONTENTS What is equity release?... 3 How much money could I raise through an equity release?... 4 What

More information

T. Rowe Price 7TH ANNUAL PARENTS, KIDS & MONEY SURVEY

T. Rowe Price 7TH ANNUAL PARENTS, KIDS & MONEY SURVEY T. Rowe Price 7TH ANNUAL PARENTS, KIDS & MONEY SURVEY Detailed Results / March 2015 Contents Family Financial Profile 3 Financial Knowledge 12 Parenting 17 Discussing Financial Matters 30 Habits & Priorities

More information

2012 HOUSEHOLD FINANCIAL PLANNING SURVEY

2012 HOUSEHOLD FINANCIAL PLANNING SURVEY 2012 HOUSEHOLD FINANCIAL PLANNING SURVEY A Summary of Key Findings July 23, 2012 Prepared for: Certified Financial Planner Board of Standards, Inc. and the Consumer Federation of America Prepared by: Princeton

More information