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We all dream of having a carefree and financially healthy retirement. Unfortunately, for some of us this dream will never be realized. There are a number of reasons why the dream of a carefree retirement will remain elusive for some members of the public. These include: Not preserving retirement savings for example, when changing jobs. Not achieving the expected investment return on retirement savings, or fees eroding too much of their retirement savings. Simply not saving enough for retirement during their working lifetime.
It is generally accepted that in order to receive an adequate post-retirement income clients have to save at least 15% of their annual salary income throughout their careers. Of course, the later they start to save towards retirement, the larger this proportion needs to be.