Welcome!

Agile Computing Authors: Liz McMillan, Elizabeth White, ManageEngine IT Matters, Steven Lamb, Sematext Blog

Blog Feed Post

Many Misjudge How Much Money They Need for Retirement

Wednesday 25 June, 2014
£15,000pa needed to fund holidays, motoring and hobbies in retirement Three in ten over 40s have no plans in place to fund their retirement Six in ten wish they had started to put money aside for their retirement earlier A study of the over 40s found that two thirds already have some idea of how they would like to spend their retirement years and an income of around £15,000 a year is needed to sustain their planned lifestyle. For a couple, this means nearer £30,000 a year is needed for the ideal retirement. Researchers found that after finishing work, the average Brit intends to go on three holidays a year, one of which is abroad, run a car and also fill their time with a host of new hobbies and activities. But with bills and day-to-day living expenses to cover as well, that means the average pensioner needs to have almost £1,200 coming in each month to have the kind of retirement they are looking forward to. That amounts to a total of £14,185 for every year of their retirement. Clive Bolton, Managing Director of Retirement Solutions Director at Aviva, said: ''For many, their retirement is a time they are looking forward to, whether it's to get away from the pressures of work or simply having more time on their hands. ''Most people, even those who still have a few years to go until they retire, have got some idea of how they would like to spend their retirement. ''But whether those plans are travelling the world, starting a new hobby or simply visiting friends and family more often, it all costs money. “It's all very well to have an idea of what you want to do after you finish working, but many people underestimate how much money they will need. Your state pension is unlikely to cover everything you want to do during your retirement, so it's important to have some kind of financial plan in place to provide additional funds. ''The change to pensions and annuities announced in this year's budget now mean you can spend your pension pot how you want, but given we're all living longer too, it's still important to make sure you have enough put by to cover your annual costs for the long term.'' Holidays form a big part of those plans with over 40s planning at least one trip abroad each year, costing around £950 a time. As well as jetting abroad, they also intend to go on two breaks within the UK during that time with each trip setting them back an average of £317 – or £634 in total. A further three weekend trips or mini-breaks each account for another £177 or £532 a year. Filling their new-found spare time with hobbies and activities, such as starting a new class or club, playing golf or joining a gym will need an average of £176 a month. That's a total of £2,114 over a year. Visiting family and treating children and grandchildren with presents or days out will also require just under £100 per month, or £1,156 each year. Of top of that, pensioners will need just over £537 a month - £6,447 a year - to cover essentials like bills, utilities and food. Running a car will also see £170 spent each month or £2,044 over 12 months, while private health care or insurance will account for more than £25 a month or £308 a year. But researchers found that around three in ten over 40s have no plans in place to fund their retirement. And even of those that have a financial plan, 64 per cent admit it's probably not going to be enough to do everything they want to do. More than three quarters of over 40s even said they are worried about being able to afford all they have already planned during their retirement. And another 64 per cent are concerned about simply paying for day-to-day living costs. It also emerged that more than six in ten wish they had started to put money aside for their retirement earlier. But more than half don't really have any idea what sort of sum they need to save in order to be able to achieve the kind of retirement fund they are hoping for. Clive Bolton from Aviva continues: 'It's quite conceivable that people could live for 30 years in retirement, so it's important that they have funds available to support them, especially if they want to have an active and full lifestyle. It's good to see that over two thirds of those surveyed have plans in place to fund their retirement, albeit some are concerned that it's probably not going to be enough. Others don't have any idea of how much they need to save in order to have enough in retirement. “Aviva's new retirement planning tool can help people assess the estimated future value of their personal pension plans and how much income they might provide them with in retirement. It can also give them an indication of how much more they can accumulate if they change the amount they save each month.” See: http://www.aviva.co.uk/pensions-and-retirement/retirement-centre/retirem... Top twenty hobbies and activities to do in retirement Cooking/baking Take up a new class Photography Research your family tree Go to the gym Book club Go to antiques/vintage fairs Knitting Golf Yoga Writing Fishing Learn a musical instrument Dance classes Art class Go back to college Join a sports club Fix/build cars Skiing Poker/bridge club - Ends - If you are a journalist and would like further information, please contact: Fiona Whytock Aviva Press Office T: 01904 452659 / 07800 692299 E: [email protected] Notes to Editors: Aviva provides 31 million customers with insurance, savings and investment products. We are one of the UK's leading insurers and one of Europe's leading providers of life and general insurance. We combine strong life insurance, general insurance and asset management businesses under one powerful brand. We are committed to serving our customers well in order to build a stronger, sustainable business, which makes a positive contribution to society, and for which our people are proud to work. The Aviva media centre at www.aviva.com/media/ includes images, company and product information and a news release archive For an interactive introduction to what we do and how we do it, please click here http://www.aviva.com/library/reports/this-is-aviva/ For broadcast-standard video, please visit http://www.aviva.com/media/video/ Follow us on twitter: www.twitter.com/avivaplc/


Distributed by http://www.pressat.co.uk/

Read the original blog entry...

@ThingsExpo Stories
IoT is rapidly changing the way enterprises are using data to improve business decision-making. In order to derive business value, organizations must unlock insights from the data gathered and then act on these. In their session at @ThingsExpo, Eric Hoffman, Vice President at EastBanc Technologies, and Peter Shashkin, Head of Development Department at EastBanc Technologies, discussed how one organization leveraged IoT, cloud technology and data analysis to improve customer experiences and effi...
Internet of @ThingsExpo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with the 19th International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world and ThingsExpo Silicon Valley Call for Papers is now open.
"We've discovered that after shows 80% if leads that people get, 80% of the conversations end up on the show floor, meaning people forget about it, people forget who they talk to, people forget that there are actual business opportunities to be had here so we try to help out and keep the conversations going," explained Jeff Mesnik, Founder and President of ContentMX, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
With 15% of enterprises adopting a hybrid IT strategy, you need to set a plan to integrate hybrid cloud throughout your infrastructure. In his session at 18th Cloud Expo, Steven Dreher, Director of Solutions Architecture at Green House Data, discussed how to plan for shifting resource requirements, overcome challenges, and implement hybrid IT alongside your existing data center assets. Highlights included anticipating workload, cost and resource calculations, integrating services on both sides...
Manufacturers are embracing the Industrial Internet the same way consumers are leveraging Fitbits – to improve overall health and wellness. Both can provide consistent measurement, visibility, and suggest performance improvements customized to help reach goals. Fitbit users can view real-time data and make adjustments to increase their activity. In his session at @ThingsExpo, Mark Bernardo Professional Services Leader, Americas, at GE Digital, discussed how leveraging the Industrial Internet a...
Big Data engines are powering a lot of service businesses right now. Data is collected from users from wearable technologies, web behaviors, purchase behavior as well as several arbitrary data points we’d never think of. The demand for faster and bigger engines to crunch and serve up the data to services is growing exponentially. You see a LOT of correlation between “Cloud” and “Big Data” but on Big Data and “Hybrid,” where hybrid hosting is the sanest approach to the Big Data Infrastructure pro...
"My role is working with customers, helping them go through this digital transformation. I spend a lot of time talking to banks, big industries, manufacturers working through how they are integrating and transforming their IT platforms and moving them forward," explained William Morrish, General Manager Product Sales at Interoute, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
A critical component of any IoT project is what to do with all the data being generated. This data needs to be captured, processed, structured, and stored in a way to facilitate different kinds of queries. Traditional data warehouse and analytical systems are mature technologies that can be used to handle certain kinds of queries, but they are not always well suited to many problems, particularly when there is a need for real-time insights.
The best-practices for building IoT applications with Go Code that attendees can use to build their own IoT applications. In his session at @ThingsExpo, Indraneel Mitra, Senior Solutions Architect & Technology Evangelist at Cognizant, provided valuable information and resources for both novice and experienced developers on how to get started with IoT and Golang in a day. He also provided information on how to use Intel Arduino Kit, Go Robotics API and AWS IoT stack to build an application tha...
IoT generates lots of temporal data. But how do you unlock its value? You need to discover patterns that are repeatable in vast quantities of data, understand their meaning, and implement scalable monitoring across multiple data streams in order to monetize the discoveries and insights. Motif discovery and deep learning platforms are emerging to visualize sensor data, to search for patterns and to build application that can monitor real time streams efficiently. In his session at @ThingsExpo, ...
You think you know what’s in your data. But do you? Most organizations are now aware of the business intelligence represented by their data. Data science stands to take this to a level you never thought of – literally. The techniques of data science, when used with the capabilities of Big Data technologies, can make connections you had not yet imagined, helping you discover new insights and ask new questions of your data. In his session at @ThingsExpo, Sarbjit Sarkaria, data science team lead ...
Extracting business value from Internet of Things (IoT) data doesn’t happen overnight. There are several requirements that must be satisfied, including IoT device enablement, data analysis, real-time detection of complex events and automated orchestration of actions. Unfortunately, too many companies fall short in achieving their business goals by implementing incomplete solutions or not focusing on tangible use cases. In his general session at @ThingsExpo, Dave McCarthy, Director of Products...
Amazon has gradually rolled out parts of its IoT offerings in the last year, but these are just the tip of the iceberg. In addition to optimizing their back-end AWS offerings, Amazon is laying the ground work to be a major force in IoT – especially in the connected home and office. Amazon is extending its reach by building on its dominant Cloud IoT platform, its Dash Button strategy, recently announced Replenishment Services, the Echo/Alexa voice recognition control platform, the 6-7 strategic...
WebRTC is bringing significant change to the communications landscape that will bridge the worlds of web and telephony, making the Internet the new standard for communications. Cloud9 took the road less traveled and used WebRTC to create a downloadable enterprise-grade communications platform that is changing the communication dynamic in the financial sector. In his session at @ThingsExpo, Leo Papadopoulos, CTO of Cloud9, discussed the importance of WebRTC and how it enables companies to focus...
Verizon Communications Inc. (NYSE, Nasdaq: VZ) and Yahoo! Inc. (Nasdaq: YHOO) have entered into a definitive agreement under which Verizon will acquire Yahoo's operating business for approximately $4.83 billion in cash, subject to customary closing adjustments. Yahoo informs, connects and entertains a global audience of more than 1 billion monthly active users** -- including 600 million monthly active mobile users*** through its search, communications and digital content products. Yahoo also co...
"There's a growing demand from users for things to be faster. When you think about all the transactions or interactions users will have with your product and everything that is between those transactions and interactions - what drives us at Catchpoint Systems is the idea to measure that and to analyze it," explained Leo Vasiliou, Director of Web Performance Engineering at Catchpoint Systems, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York Ci...
SYS-CON Events announced today that LeaseWeb USA, a cloud Infrastructure-as-a-Service (IaaS) provider, will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. LeaseWeb is one of the world's largest hosting brands. The company helps customers define, develop and deploy IT infrastructure tailored to their exact business needs, by combining various kinds cloud solutions.
Is your aging software platform suffering from technical debt while the market changes and demands new solutions at a faster clip? It’s a bold move, but you might consider walking away from your core platform and starting fresh. ReadyTalk did exactly that. In his General Session at 19th Cloud Expo, Michael Chambliss, Head of Engineering at ReadyTalk, will discuss why and how ReadyTalk diverted from healthy revenue and over a decade of audio conferencing product development to start an innovati...
It’s 2016: buildings are smart, connected and the IoT is fundamentally altering how control and operating systems work and speak to each other. Platforms across the enterprise are networked via inexpensive sensors to collect massive amounts of data for analytics, information management, and insights that can be used to continuously improve operations. In his session at @ThingsExpo, Brian Chemel, Co-Founder and CTO of Digital Lumens, will explore: The benefits sensor-networked systems bring to ...
SYS-CON Events announced today that 910Telecom will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Housed in the classic Denver Gas & Electric Building, 910 15th St., 910Telecom is a carrier-neutral telecom hotel located in the heart of Denver. Adjacent to CenturyLink, AT&T, and Denver Main, 910Telecom offers connectivity to all major carriers, Internet service providers, Internet backbones and ...