Monday 16 September 2019

Positive outlook growing over finances in retirement

'March results for the Retirement Optimism Index showed an improvement in confidence concerning retirement.' Stock image
'March results for the Retirement Optimism Index showed an improvement in confidence concerning retirement.' Stock image

Mark Evans

More people felt confident in their financial readiness for retirement, as gains in the markers in 2019 resonate with investors. The main Irish stock index ended last week at a six-month high, boosted by better sentiment about Brexit.

The Bank of Ireland/ESRI Savings and Investment Index, which measures sentiment towards saving and investment, was unchanged at 102 in March, but investment and saving sentiment had gone in opposite directions.

Investment sentiment improved on the back of a sharp increase in confidence about the outlook for markets.

This was offset by softer saving sentiment which slipped back from February.

The divergence is down to risk versus reward, with the attitude to savings up when risks on the markets are seen as high.

March results for the Retirement Optimism Index showed an improvement in confidence concerning retirement. More respondents (58pc) felt financially prepared.

The number of people who say they would find it difficult to live comfortably in retirement fell to 36pc.

Irish Independent

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