We all know how important Pensions are, and we also know that planning ahead is absolutely essential if we expect future financial security. However, the majority of us have done very little to properly prepare for our retirements. In fact, about two-thirds of us will not even have sufficient income to just squeak by – far from our general expectations of comfortable and secure retirement years. Most of us picture a retirement where we maintain the standard of living we enjoyed in the years prior, while having plenty of time to do all of the fantastic things we put off during our busy day-to-day work lives. Just how much income we need to do so often eludes us – as does the likelihood that we’ll be financially far worse off during retirement.

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