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business focus Why should I retire?
The view of retirement for investors has changed. Our research shows retirement is no longer seen as a separate phase of life, says Martyn Begbour of UBS
UBS recently asked 318 UK investors how they think about retirement. The results show that work and retirement are no longer seen as separate and distinct phases of life.
In the UK, there are three broad themes:
Respondents enjoy their jobs More than you might think don’t see work just as a means to an end or a way of paying the bills. Entrepreneurs especially say that they find Monday mornings just as exciting as Friday evenings.
There’s evidently no rush to give up work and, rather than counting the days until they can retire, investors are wanting to carry on.
It’s not a time to slow down or avoid risk
Only 23% of professionals see themselves as retiring in the traditional sense – doing no work at all. Almost half of respondents are looking forward to this next period of their life.
Once at state retirement age, well over half of respondents believed they will be exactly the same person – just in an older body.
“Also, going against the stereotype that older people are more cautious and conservative, the opposite rang true for the respondents of our survey, says Begbour.
'There’s an overwhelming response that the investors surveyed believe their greater
knowledge and experience equips them better to take calculated risks and that their confidence has grown as they have gotten older.”
Leaving a legacy
Preserving history and culture for future generations is on the minds of 65% of respondents and providing for their loved ones is the main motivation in accumulating wealth today.
More than half also believe that wealthy people should give back – that their expertise would be valuable to a charitable cause.
The results show us that the traditional notion of ‘building a pension to fund life after retirement’ has changed and life does not stop but it continues to require planning.
The full UBS Investor Watch 2016 report can be read at
ubs.com/investorwatch-uk.
Details: Martyn Begbour 07887-450664
martyn.begbour@
ubs.com ubs.com/south&southwest-uk
Credit: UBS Investor Watch 2016 (UK)
businessmag.co.uk THE BUSINESS MAGAZINE – SOLENT & SOUTH COAST – JUNE 2016
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