Study Reveals Most Expect to Outlive Retirement Savings
On average, people across the world expect retirement to last 18 years — but they expect savings to run out after 10.
The findings are based on a survey of 15,000 working and retired people in 15 countries. Respondents were asked for their expectations of length of retirement, and to estimate savings based on their own definition. That could mean total income after retirement, or savings excluding state and occupational pensions.
Of those who say they haven’t saved for retirement, 44% blame the daily cost of living. And the vast majority of those surveyed say a major event — losing a job, poor health, buying a home or paying for a child’s education — has significantly affected their ability to save.