People coming up to retirement are choosing to save rather than spend, research has found.
Prudential's Class of 2012 found six in ten (57%) surveyed will save to have enough to live on in retirement, while others (43%) would prefer to spend money on leisure, with travelling (35%) a top priority for many.
Vince Smith-Hughes (pictured), retirement income expert at Prudential said: "Today's retirees are likely to spend longer in retirement than previous generations so it is encouraging to see that they understand the importance of saving money to ensure they can live comfortably."
In addition, women are more likely than men to prioritise saving during retirement - 62% of women will be thrifty with their finances compared with half (52%) of men.
However, a worrying trend is only a quarter of retirees will save for potential healthcare or long term care needs.
But Smith-Hughes said overall the results were encouraging as it showed people were more aware that saving should not stop when you retire.
He added the secret for a comfortable lifestyle in retirement was "saving as much money as possible, from as early an age as possible", while consulting a financial adviser would help retirees make the most of their pension pots.
And while those spending their cash on holidays could be seen as wasteful, Smith-Hughes admitted it "seems like a fair reward for all their hard work during their working lives."
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