5d • 🔮 Future of Advice
Almost a third of retirees report worse standard of living
An interesting and slightly worrying statistic from recent retirement research:
31% of retirees said (probably not surprisingly) that their standard of living was actually worse in retirement than when they were working. Many admitted they underestimated:
- how much money they would need
- how long retirement would last
- and the long-term impact of inflation and rising living costs
What struck me is that this may not just be a financial planning issue. It may also be a financial education issue. Because many people still don’t fully understand:
what retirement really costs
how long money may need to last
how inflation quietly erodes spending power over time
or the lifestyle trade-offs that can emerge later in life
Which raises an interesting question for advisers: How could financial education play a bigger role in helping people prepare emotionally, psychologically and practically for retirement - not just financially?
Interested in members’ thoughts.
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Almost a third of retirees report worse standard of living
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