Retirement alert: Could you run out of cash? Britons expecting inheritance issued warning | Personal Finance | Finance

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It showed the average monthly outgoing of a UK retiree sets them back £1,370, equating to £16,440 a year.

On average, retirees are putting away five percent of their retirement savings to cover later life care costs.

However, they are prepared to spend much more on holidays, leisure and hobbies.

While these endeavours are all important, abrdn has also warned that a failure to put enough aside for essentials could be devastating.





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