Retirement is one of those milestones in life that many of us think about for decades – but ‘think about’ is not the same as ‘plan’.
And it’s that lack of planning – especially financial planning – that makes approaching retirement a time of high anxiety for millions of people according to a new report.
Charles Schwab polled those within 5 years of retirement and found that almost two thirds are overwhelmed by saving enough for retirement and more than half concerned about how they will manage different income sources in their retirement years.
The survey discovered that being overwhelmed by retirement is more common than for other key financial moments in life such as the financial impact of losing a job (41%), buying a home (33%), or paying for college (27%).
