The majority of UK savers who have thought about planning their retirement have done so "in their heads", shunning any formal planning or financial advice, according to an annual retirement survey by Franklin Templeton.
The research found about 72% of the UK public had formed some idea of how they would retire but of those 70% had not written down a formal retirement plan - advised or non-advised. The trend also affected higher earners - those earning more than £250,000 - of whom two-thirds (64%) were not using a financial adviser. At the same time, the public seemed to recognise the value advice can bring, with almost half (48%) saying they felt a financial adviser was "important" to retirement planning or generating income after retirement. Franklin Templeton warned of a "severe and chronic" lac...
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