Caveat Emptor

It will soon be the next financial year and with it will come the new found "Pension Freedoms". No doubt the press will soon be full of stories of people who were duped and miss-sold something. With the exception of those who are not in 100% of their faculties why do people expect to be protected from their own stupidity? If something appears too good to be true then 99.999% of the time it is.

I suspect that many people will be better off if they buy an annuity - with all their faults and low rates of return. According to ageUK the  UK life expectancy estimates at the age of 65 (in reasonable health) are 86.1 for women and 83.6 for men (February 2015). So if you budget on living until 90 for women and 87 for men you are (statistically) going to be OK.

So for me that means my savings etc have to last another 20 years - a happy thought!