Business & Personal Finance

                                                                             (image courtesy http://www.islands.com)

According to a recent HSBC report on retirement, Generations and journeys, working people feel more pressure than ever to save for their retirement. The study revealed that the current generation of retirees started saving for their retirement at age 35 and retired at age 58. Today, however, working age people are starting to save five years earlier and expect to work until age 60. And despite starting to save earlier, many people don't think they have saved enough. This same report also reveals that nearly a quarter of working age people haven't even started saving for their retirement. Pre-retirees have started to lose faith in public pensions and many say that they will rely on their properties to partially fund their retirement by downsizing or selling their properties.

HSBC's research has identified four things people can do to make their retirement more comfortable:

1. Think about what your expenses will be in retirement

              Make a list of your expenses so that you don't have any surprises.

2. Start saving early for retirement

             By starting early, you will build a bigger retirement fund.

3. Get professional advice

             Look at all kinds of sources of information but make sure it comes from a professional.

4. Financial ups and downs happen to everyone.

             Life can get expensive and you might feel the need to put saving for retirement on the back burner from time to time. When things gets difficult, take a look at your finances and try to find other ways to continue contributing to your retirement fund.     

For books and ebooks on how to save for your retirement, take a look at the following: