Retirement Saving ‘Should Start in 20s’

A survey conducted by Lottosend indicates that almost 60% of the British public think that people should start saving toward retirement when they are in their twenties.

The survey asked 1,500 people across the UK at what age they think people should start saving for retirement. The results indicated that the majority of people believe that starting to save at a younger age is more worthwhile for your retirement.

While the number one response to this question was that people should start saving in their 20s, the second most popular answer was that people should start saving in their 30s demonstrating that there is a clear belief in starting to save money a significant amount of time before retirement.

The results of the survey also illustrated that the older people were the earlier they thought that people should start saving. In contrast, many younger people answered that people should not start saving until their 50s, with over 10% of people selecting this answer.

The Top ResponsesAge Percentage

20s 59.7%

30s 22.4%

40s 8.7%

50s 9.2%

Responses by Location20's (682 responses)

England 62.4%

Northern Ireland 53.4%

Scotland 59.7%

Wales 56.6%

30's (267 responses)

England 21.6%

Northern Ireland 33.3%

Scotland 20.9%

Wales 35.5%

40's (98 responses)

England 7.3%

Northern Ireland 13.2%

Scotland 7.7%

Wales 2.6%

50's (105 responses)

England 8.6%

Scotland 11.8%

Wales 5.3%

Results by Age18-24

20's 49.3%

25-34

20's 52.6%

35-44

20's 59.8%

45-54

20's 64.5%

55-64

20's 67%

65+

20's 71.1%