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Dream retirement number is 57

10 October 2017

The nation remains excited for their retirement years, despite uncertainty about the state pension, according to the latest research by Portafina.

The study, which polled 2,000 people, found that over half of working Brits are eagerly anticipating their retirement, with 27% planning to use the time to fulfill a lifelong dream.

While 26% of respondents raised concerns about the cost of retirement, 29% said they would use their golden years to travel the world, increasing to 33% for those hoping to learn a new language.

The findings revealed 57 to be the average age at which respondents aspired to retire, with 32% stating they hoped to be able to quit work completely, while 40% noted that semi-retirement was an option and not just driven by financial reasons.

Whilst 15% of those considering semi-retirement said their decision was borne out of a need for extra income, 53% said it would allow them to ease into the change and 31% believed semi-retirement could be the perfect time to fulfill lifelong job ambitions.

Jamie Smith-Thompson, managing director at Portafina, said: “There is always so much negative press about retirement, which must seem so depressing for younger generations that feel they are facing decades of work in order to secure the future lifestyle they want – and deserve.

“With semi-retirement revealed to be a viable option for so many, and numerous retirees already using this as a way to fulfil lifestyle and career ambitions, the nation’s dream retirement age of 57 may be achievable to some degree – that’s something I think we can all get behind. It’s important to remember that this can only come about through people taking retirement planning into account as early as possible.”

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