Looking into retirement may seem a premature move for some, however making plans now could stand you in better stead for a more stable financial future. People who are over 50 years old are an at-risk group of being impacted the hardest by the the cost-of-living crisis, a report shows.
A charitable organisation that is part of Edinburgh University discovered economic inactivity rates have increaesd by a third over the past three years for the over-50s age group. Research from the Edinburgh University’s Smart Data Foundry suggests people aged 50 to 54 could experience double the financial vulnerability risk than those aged 70 to 74.
As reported by Daily Record, it is thought massive spikes in inflation and rocketing energy bills are leaving those in their 50s and 60s facing the “perfect storm” of redundancy and ill-health, combined with a lack of savings on pension provisions, according to the leading UK data scientists.
