Health, happiness and holidays
As a set of priorities, these sound pretty good. The three ‘Hs’ of health, happiness and holidays are the key priorities for the babyboomer generation when considering retirement, according to new research from AXA Wealth.
Of course there is a fourth ‘H’ that retiring babyboomers will also need to consider – household expenses.
People in this age group are still placing too much reliance on income from the State and property.
The research found that 25% of this generation expect the State to pay most of their pension. Over half of the babyboomer generation have no private pension provision and 43% are not part of a company pension scheme.
Around a third of those surveyed expect to retire at age 65, the traditional retirement age. However, one fifth plan to retire at age 70 and 8% say they will never retire.
Health, happiness and holidays are great objectives to have for retirement, as long as you have a plan for achieving the level of income required to support them.