Quiet Retirement For Most Britains

Everyone has the dream of finally finish work at 65 and then setting off on the round the world cruise, or visiting the grandchildren in Australia, or even buying a place abroad maybe in Spain or France and living the high life. We deserve it, we have worked long and hard for our pension and this is our reward. However, it seems that many of us cannot afford to do the wild retire ride and are settling for the quiet life at home. Perhaps seeing more of the family or spending more time in the garden.

Retired people in the UK are beginning to have more modest expectations when it comes retirement, it has been claimed. A study by a leading financial services company revealed that 26 per cent of people believe they will be limited to one annual holiday in their old age, with 94 per cent admitting they did not think they would be able to afford a round-the-world trip after giving up work.

Some 96 per cent of those questioned also revealed a second home would be out of the question in their twilight years. This means that more homes in the UK will be needed for retired people and there will be less available for younger people.

The head of products and marketing at Lincoln Financial, said: "Long gone are the days when people expected to be able to head off into the sunset for the trip of a lifetime once retired." He added the British people are instead focusing on simple luxuries, such as taking up new hobbies.

Earlier this year, research revealed 41 per cent of people in the UK are facing running out of retirement income by the age of 85. This could become a problem when more and more of us are living longer and the average age of the population is rising all the time. Many people are now expected to live until over 80 years.

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