People overestimate their financial ability and are not saving enough for retirement, research by Vital Research for Wealth at Work found.
Six in ten people (63%) think their financial knowledge is either 'excellent' or 'above average' according to a new survey that quizzed 1,015 UK working adults. The survey found more than two in five (41%) know they are not saving enough for a comfortable retirement. Wealth at Work found that respondents overestimated their financial ability on general financial issues including managing a monthly budget, debt and managing savings. A quarter (25%) of respondents said their financial ability was 'excellent', 38% said 'above average', and 33% 'average', while only 4% said 'below...
To continue reading this article...
Join COVER for free
- Unlimited access to real-time news, key trend analysis and industry insights.
- Stay on top of the latest developments around health and wellbeing, diversity and inclusion and the cost of living crisis.
- Receive breaking news stories straight to your inbox in the daily newsletter.
- Members only access to monthly programme 'The COVER Review'
- Be the first to hear about our CPD accredited events and awards programmes.