New research found that women are more worried about running out of money compared to men.
Fear of running out of money in retirement is most likely in Scotland compared to the rest of the UK, with nearly two-thirds of Scots concerned their savings will not last them through retirement, new research from Investec Wealth & Investment shows, which has offices in Edinburgh and Glasgow.
Around 68 per cent of those living in Scotland are concerned they do not have enough money for retirement. This is much higher than the UK average of 56 per cent. Commenting on the findings, Ade Babatunde, Chartered Financial Planner at Investec Wealth & Investment , said: “It is extremely worrying to see such high numbers of people in Scotland concerned about running out of money in retirement and not having enough money saved. This is particularly high in Edinburgh, Glasgow and the whole of Scotland compared to the rest of the UK.
Top Money Stories Today The financial expert added: "The larger your pension pot is at retirement, the more options and flexibility you will have when you come to draw an income. Therefore, we would urge anyone concerned about retirement savings to talk to a financial adviser.”
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