We recently ran a retirement planning quiz to help people reflect on their future plans, and to better understand the kind of support people might need as they approach this next chapter of life.
The aim was simple: to shine a light on how prepared (or not) people feel when it comes to their retirement. Whether you’re five years away or fifteen, having clarity over your goals and a plan to get there can make all the difference.
So, what did we find?
Most people are planning big changes in the next decade
A huge 89% of respondents said they plan to retire or significantly change their approach to work within the next 5 to 10 years. It’s clear that for many, a new chapter is on the horizon.
But many aren’t sure they have enough
When asked how confident they were that they have ‘enough’ to last the rest of their life, 47% gave themselves the lowest score (1 out of 5). Only 6% rated their confidence at the highest level. That’s a sizeable gap between plans and peace of mind.
The majority have less than £100k in pensions and investments
Excluding property, 61% of people said their retirement savings total less than £100,000. For many, there is a high risk that their pension fund that may not stretch as far as expected — especially over a 20+ year retirement.
Planning is still a major blind spot
- 69% don’t have a plan for how they’ll draw down their assets
- 63% don’t review their investments regularly
- 68% don’t know how well diversified their investments are
- 66% don’t know what options their pensions offer
While many are thinking about retirement, fewer have a plan in place to make it happen. Most people we surveyed don’t know how they’ll draw on their assets, how their investments are structured, or what their pensions actually offer.
These blind spots can lead to missed tax-saving opportunities, unnecessary risks, or simply not making your money last. The details matter, and understanding them can be the difference between uncertainty and confidence in retirement.
The good news? It’s not too late to get a clear, personalised plan in place.
Ready to take control of your future?
If you’re unsure where to start, you’re not alone — we’re here to help. At Flying Colours Advice, we specialise in helping people feel confident about their financial future. Whether you need a detailed retirement strategy or just want to understand your options, our advisers can guide you every step of the way.
Get a Free Retirement Planning Consultation
Get in touch with our expert advisers to see how we can help you plan a future that works for you and your loved ones.
Source: Flying Colours Advice Limited, Based on 263 responses to the Retirement Ready Quiz between 23/01/25 to 26/02/25