Retirees Are Finding Themselves Devoid Of The Funds To Make It During Their Golden Years

By Author: Chris McClelland
Total Articles: 4762
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After the stock market started to decrease, everyone who had interest in itobserved, including retirees. Over the past year, the income level for retirees has declined rapidly, in the United Kingdom, to 17,779 pounds in 2009, which is in excess of 800 pounds under what they were getting in 2008. The cause can be blamed on the diminishing market, including falling interest rates. When interest rates declined, it helped out folks with debt, but individuals whose income depends on the interest rate being high, it hurt.

Many who have looked frontward to their golden years are now finding themselves back to employment after being in retirement or they are holding off on retirement to keep on working. In a current study by Lincoln Financial Group, 41% of likely retirees believe that they will have to keep working to pay the bills and 11% do not believe that they have an adequate amount of money to last them until they are 70.

Many seniors who ca not afford their living expenditures anymore are going devoid of things like warmth or other kinds of energy. In the United Kingdom, there is something called the winter petroleum ...
... payment, that once covered 35% of the average gas and electric bill. Now, with higher energy costs, it only covers 20%. They are also going lacking or just trying to limit consumption of other resources like water, which was up 4.1%in price for 2009.

There is a little silver lining for potential seniors in the UK, Age Concern has estimated that 4.6 billion pounds goes unclaimed every year. The Department for Work and Pensions as well estimates that 310,000 citizens do not call for a home benefit, which accounts for 660 million pounds a year.

It is sad to see our parents and grandparents having to be anxious about whether or not the funds they have earned throughout their lives will endure them for the remainder of their lives. If prices were to continue mounting at the present speed, then those who were and are on unchanging income will be left in the cold.

One of the best things a retired person or someone looking into retirement can do for themselves is to check and see with a government officer or an accountant if there are any services, pensions, or additional forms of economic assistance that can assist them make to it. If you look at the quantity of money that goes unclaimed in the United Kingdom, then perhaps there are comparable unclaimed funds in other countries. The trick is to be capable to discover out where the funds are and how to acquire them.
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