Last month saw the publication of the annual Scottish Widows Savings Report - now in its 8th year. It is a survey of over 5,000 people in the UK, exploring the nation's attitude towards saving. The findings are, as ever, interesting and at the same time quite disturbing. Most worrying is the finding that the amount of people with no savings at all has risen from 31% to 33%. Conversely, however, for those that do have savings of up to £50,000 the amount saved has on average gone up for the 2nd year in a row. Perhaps the most interesting finding from this survey is the attitude of people. For instance, in the 18 - 34 year old category, only 44% thought that individuals should take responsibility for their saving. It does not clarify who they think should be responsible! Some findings are fairly predictable - the oldest age group has the most savings and the youngest age group is prepared to take the highest risk . The age group with the lowest level of people with savings is 35 - 49 year olds, no doubt reflecting the cost of bringing up a family. According to the survey, women earn less, spend less and have less debt. What comes through the survey as a whole is the low level of saving that we have as a population. For those with under £50,000 of savings (88% of the population) the average figure is just £10,200. If you would like to discuss or review your own investments or pensions then please call us. Initial meetings are without cost and we are happy to come to see you in the comfort of your own home. See our advert below. This article does not constitute advice and should not be taken as a recommendation to undertake any course of action mentioned without consulting a relevant professional. 30 Phonebox Magazine ---------------- ADV 15C N INDEPENDENT FINANCIALADVISERS brings you FinanceMatters Are you saving enough? A 65 year old male retiring at the end of 2012 would, on average, receive 56% less pension than in 1994, and a 65 year old female, 50% less. ThesameresearcihssuedbyMoneyfacitnsearly2013alsoshowsannuityratesinthe UKhavefallenin 15ofthelast18yearsandthereductiownas11.5%in2012alone. If youwishto reviewyourpensionarrangemenotsr youareapproachinrgetirement, whynotcontactAdvisotno seehowwemaybeableto maximistehebenefiftrom yourretiremenptlanning. Ourfinancialadviserswill helpyouto: • ensureyouhaveaclearfinanciapllanforthefuture • provideprotectioanndpeaceofmindforyourfamily • makethemostofyourhardearnedsavingsandinvestments • saveforyourretirement •minimiseyourpersonatalxliabilities • protecytourestateforyourbeneficiaries ...andgiveyouaccessto ongoingadviceandsupport