Some interesting findings from a recent report from Telda, show that those in retirement with a higher income experience a higher quality of life. Three in ten with low income say that a shortage of money prevents them from doing what they want to do, in comparison to one in ten with a high income. Another finding showed that three in ten retirees say that shortage of money never prevents them from doing what they want to do compared to two in ten workers.
It was also found that three in ten workers say their health never prevents them from doing the thing they like to do, compared to six in ten retirees.
Living standards remain the same when people transition into retirement because consumption patterns change, for example there is less financial outgoings such as mortgages, there are less or no dependents, more time to shop around and get better prices and savings are no longer required , along with free travel and reduced tax.
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