Almost three-quarters (74%) of Brits are not on track to retire with sufficient funds, highlighting a looming retirement crisis that needs urgent attention.
Nigel Green emphasized that 'too many people are simply not saving enough, and they don't realize just how much more they will need to retire comfortably in the future.'
Respondents underestimated necessary retirement savings, struggling to consider inflation and healthcare costs in their financial planning for retirement.
With inflation at an average of 3.5%, individuals need to drastically reassess how much they will need saved to maintain their current lifestyle years down the line.
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